Queenstown lies at the foot of the Hangklip Mountain, equidistance between the towns of Cathcart and Sterkstroom in the Eastern Cape Province.
This three bedroom, one bathroom family home has cosy living spaces and built-in cupboards in the kitchen. There is an outside room with a bathroom on the property, a garage and an alarm system. It is on the market for R880 000 - click here to view.
It is the commercial hub and administrative centre of a prosperous farming region. Nicknamed the ‘Rose Capital of South Africa, due to the ample gardens and rose bushes seen in and around the town, it is known for its beauty, climate and welcoming atmosphere. The ideal placement of the town on the Komani River has also made it a popular stopover for those visiting the Wild Coast and Karoo Heartland.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says it is one of the few areas where the most active age group of consumers are those between 50 and 64 years old. He notes that this demographic accounts for 42.44 percent of the existing owners, 42.11 percent of the recent sellers and over 50 percent of recent buyers.
The next largest group is those aged between 36 and 49 years old, who account for 35.71 percent of the buying activity. Buyers aged between 18 and 35 years represented 14.29 percent of the consumers buying property in the area. Over 66 percent of the existing homeowners have lived in the area for 11 years or more.
This four bedroom, two bathroom home has large living spaces, a modern kitchen with an island counter and a fitted study. The house has a private entertainment area with pool, covered braai and bar area, as well as a double garage. The property is fully enclosed and has an alarm system, complete with beams. It is on the market for R1.995 million - click here to view.
According to Lightstone, property consists mostly of freestanding homes that make up 90.10 percent of the current market stock, while 9.9 percent are sectional title units. Goslett says that property prices grew steadily from 2004 up until 2008 and then dipped slightly in 2009. He notes that while no sectional title units were sold during 2010, the average price of a freestanding home gained momentum and hit a record high of R1.141 million during 2013.
While the property prices grew from 2004 to 2007, the number of sales transactions concluded decreased. In 2008 the number of sales spiked, dropping again during 2009. From 2010 the number of sales begun to increase and the figures seen in 2011 were close to those seen during the boom period.
According to Goslett the most sought-after real estate is property that falls within the R800 000 and R1.5 million price bracket. These homes account for 37.5 percent of all properties sold from March 2012 to February 2013.
He says another popular price bracket were homes priced between R400 000 and R800 000, and 31.3 percent of properties sold within the same period fell within this price range. Around 18.8 percent of properties sold for under R400 000, while 12.5 percent were sold from between R1.5 million and R3 million.
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