In many areas along the Western Seaboard, properties are being subdivided and new residential development is taking place, providing property buyers with good opportunity for long-term growth.
This four bedroom, four bathroom penthouse in Bloubergstrand has a skylight, underfloor heating and a glass staircase with LED lighting. It is on the market for R8.895 million -– click here to view.This is according to Candice Fraser, principal of Fine & Country’s new Western Seaboard office, who says the Western Seaboard is attractive to many buyers as it offers value for money and great lifestyle elements.
Fraser says her office services the areas from Milnerton, Sunset Beach, Lagoon Beach and West Beach to Big Bay, Table View, Bloubergstrand and Parklands/Parklands North, to mention a few.
“The Western Seaboard suburbs are continuing to grow in popularity as the value and the growth of property prices are strong. Property growth in these areas is as high as 10% to 15% per annum in some areas, especially in Sunningdale and Parklands North which are exceptionally popular suburbs,” says Fraser.
“The property value growth in these regions is attributed to the buying influence of the younger population and first-time buyers, who see value in the area and what it has to offer.”
Fraser says while Lagoon Beach mainly attracts investment buyers looking for sectional title properties ideal for holiday rentals, areas like Milnerton and Flamingo Vlei are attractive options for families. “The types of property available in the area reflect this as it is made up of a mix of large family homes, retirement villages and small pockets of sectional title apartments.”
According to Fraser, Parklands, Parklands North, Table View and Royal Ascott tend to attract predominantly young families and first-time buyers as it offers a mix of secure estates, sectional title complexes and medium-sized family homes.
This brand new four bedroom, two bathroom home in Parklands North has a double-volume entertainment area, braai and private garden. It is on the market for R2.695 million - click here to view.“Sunset Beach, on the other hand, will appeal to those looking for a large family home or property within a gated estate. while West Beach and Sunningdale are mainly made up of family homes,” says Fraser.
She says the higher-end properties and apartments are mainly situated in Bloubergstrand, and the popular and trendy Big Bay area offers buyers a blend of large family homes in security estates, townhouses and sectional title apartments.
Talking about popular price brackets among buyers along the Western Seaboard, Fraser says entry-level homes are found mainly in Parklands, Parklands North, West Beach, Sunningdale, Table View and Royal Ascot. “The lowest priced homes are typically situated in Parklands East and start at about R 700 000, which will purchase a two bedroom sectional title apartment.”
Mid-level properties start from around the R1.4 million mark and range up to about R3 million, which is a very popular price rang along this stretch of Cape coast, and top-end properties are priced from approximately R3.5 million and go up to the R5 million mark, says Fraser.
She says this will typically afford a buyer a family home in Parklands North and on the higher end in Big Bay. The most expensive homes are found in Blouberg, Sunset Beach, Blouberg Extension 1 and here, buyers are looking at R6 million upwards for a property, whether its sectional title situated within a secure estate or a family home.
Fraser says most of the rezoning, subdividing and development is taking place in Milnerton, Table View and surrounds, as well as Parklands North.
She says in the Milnerton area, more and more people are looking to subdivide their properties as the erf sizes are large. In Table View and surrounds, Fraser says the trend of subdividing properties is also prevalent, however, these properties are being rezoned from GR1 to GR5, which allows for more high-density development, specifically for the development of sectional title apartments.
Fraser says there is also much development taking place in the Parklands North precinct, which is mainly plot-and-plan style estates being created by developers. “Parklands North is an up-and-coming area that is highly sought after, especially by first-time home buyers and investors.”
Speaking to prospective buyers looking to purchase property on the Western Seaboard, Fraser says it’s very important to be ‘bond ready’ if finance will be required to purchase a property.
She says buyers should also make sure they deal with a reputable agent who is registered and holds a valid Fidelity Fund Certificate. They should also make sure the seller provides a property disclosure form to avoid having to face legal battles over defects that were not disclosed at the time of sale that only become apparent once the sale is concluded.
Sellers on the other hand need to ensure their property is in a reasonable condition and well priced in order to sell it within a reasonable amount of time, says Fraser.
“Sellers also should be mindful of agents that inflate prices just to get a mandate. They need to take into account the market conditions and sales prices achieved for similar homes in the area so the property does not become stale and buyers lose interest, as this will only be detrimental to the sale,” says Fraser.
Linda Erasmus, CEO of Fine & Country Sub-Sahara Africa, says she welcomes the Western Seaboard office to the fold and believes their professionalism and passion when it comes to property will ensure their success.
Fraser says she has worked in the South African real estate industry for the past 14 years, and during this time owned and operated a property firm in the Western Seaboard area over the past nine years.
“I realised it was time to take the next step, and when the opportunity came to join the prestigious international brand of Fine & Country, it was an easy decision for both myself and my team, who are very excited to operate in the upper quartile of the market and be part of this incredible brand,” says Fraser.
“I felt synergy in our ethos, which I believe to be a fundamental aspect of any business relationship.”
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