Bergvliet property is reportedly in demand with reasonably priced homes offering good value for money close to schools and other conveniences.
Three bedroom home in Diep river priced at R759 000.
Tony Clarke, MD of Rawson Properties says Rawson Properties’ Bergvliet franchise achieved a December 2011 turnover 250 percent higher than that of December 2010 and that it is currently on track to set a new record for its January sales while budgeting for a 20% increase in sales this year.
This should be telling the buying and investing public something about the fast-growing popularity of residential property in Bergvliet and many of its adjacent suburbs, he says.
John Weston, Rawson franchisee for these areas, says property here has performed better financially than in most other Cape Town areas.
The huge popularity of these areas, he says stems from the fact that they are seen by the increasing numbers of upwardly mobile people, who formerly may have lived in “disadvantaged” suburbs, as not only prestigious but also just affordable to the new middle class.
This two bedroom flat in Heathfield (lower Bergvliet) is priced at R599 000.
Sales prices quoted by Weston appear to bear this out. Freestanding homes in Bergvliet are now selling at R1.5 million to R3.4 million and homes at this higher level having all the bells and whistles. In Meadowridge from R1.4 million to R3 million, Diep River from R400 000 to R2.5 million, Plumstead from R900 000 to R2.5 million, Southfield from R600 000 to R1.2 million and Heathfield and Alphendale from R520 000 to R1.8 million.
Especially popular right now, says Weston, are these last two areas – as well as apartments in Heathfield which can sell for as little as R400 000.
Bergvliet and Meadowridge, he adds, are particularly attractive to upwardly mobile people because their schools continue to achieve excellent results at both matric and primary school levels. Bergvliet High School matric students last year achieved a 98% pass rate.
Also attractive to many, he says, are the large, high standard retail centres of the areas. The upgrading of the Blue Route Mall to be completed in April, Weston predicts will set a whole new shopper profile.
Ongoing demand, he says, has also made the area attractive to property investors. “Those buying in the less expensive areas like Southfield can now achieve a 7,5% nett growth from day one - a two bedroom apartment in Diep River sold recently for R650 000 is able to get a R5 000 per month rent.”
Renovations, too, says Weston, are achieving good returns. In one case a large home in Diep River is being split in two, both sections upgraded and then sold separately under sectional title. Similar innovative improvements are now being carried out throughout this territory.
A fact which may surprise property watchers is that this Rawson franchise achieves a 95% success rate in its clients’ bond approvals. This, says Weston, is the result of all agents becoming adept at helping clients to assess what they can afford in relation to the National Credit Act criteria – and, he adds, his close liaison with the Rawson in-house bond origination division, Rawson Finance, is of great value.
“All in all, if you are looking to buy in a reasonably priced precinct with the ability to withstand almost any economic downturn, it can be shown that Bergvliet and its environs are a very safe choice,” says Weston.
Weston listed three properties in different price categories that he believes currently offer good value.
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