Southern Suburb area specialists say there has been consistent interest from local buyers looking to upgrade to more quarantine-friendly homes in the Western Cape. The area is also popular with semi-gration buyers from Gauteng and other inland areas, as well as foreign buyers.
READ: Top Western Cape suburbs where you can snap up properties in the R2m to R4m price range
Cape Town’s Southern Suburbs are renowned for being an excellent area for family buyers especially given the access to some of the country’s top schools, says James Lewis, managing director for Seeff Southern Suburbs.
Buyers have a choice of great suburbs that offer family houses in the R2 million to R4 million price range to choose from depending on their needs and type of home and area that they are looking for. This popular Cape Town area is green with tree-lined roads, offering a great suburban lifestyle, yet with all the amenities that you need on your doorstep.
Dawn Bloch, Area Specialist for Lew Geffen Sotheby’s International Realty in Lakeside and Kirstenhof and Zwaanswyk, says properties priced between R2 million and R3 million have always been desirable in Lakeside and Kirstenhof, which both offer excellent value for money. “My partner, Lee-Ann Davis, and I have concluded many sales in this price bracket since June 2020 when the market opened up after lockdown.“
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Last year saw Kenilworth Upper outperforming Claremont Upper for the first time in recent memory, with 12 and eight sales respectively, adds Lew Geffen, Sotheby’s International Realty Area Specialist, Barbara Manning who states that the significant factor is that Kenilworth Upper is seen as "offering better value than Claremont Upper".
The Constantia Wine Valley is also a big drawcard and there are plenty of outdoor opportunities to walk, cycle and enjoy a horse ride all the way across Constantia Nek to Hout Bay.
Rondebosch and Newlands are sought for the close proximity to UCT and top schools, for example, Bishops, Rondebosch Boys and Rustenburg Girls. Harfield Village, Claremont and Lynfrae are particularly popular for the well-priced houses in the area. Other popular areas which offer houses in the R2 million to R4 million range include Tokai, Bergvliet and Plumstead.
“Most of our buyers are searching mainly for three- and four-bedroom freehold family homes with two bathrooms, an open-plan to the living area, double garage, garden and pool, if available. There are also apartments and smaller homes available which make great starter homes and a foot into this market,” says Bloch.
The Southern Suburbs has currently *754 new property listings, according to Property24 Tends Data, with the average sale price for the area being R1.825 million. The average sale price per erf for 2020 was about R2.3 million, while Section Scheme Units average sale price for the same period is R1.25 million.
The latest residential listings on Property24 show that two bedroom homes are most widely available, at an average list price of R1.8 million. Sellers in the area fall within the 36-49 years (32%), while 39% of buyers are between 18-35 years - followed by 37% within 36-49-years age group.
Click here to see all the latest trend data for the Southern Suburbs
'Tokai price correction'
Tokai has also bounced back after a price period correction during 2018 and 2019, with 2020 house sales up by 41% on the previous year, says Claude McKirby, Co-Principal for the group’s Southern Suburbs office.
According to McKirby, the upper end of the market in Constantia has also done consistently well overall, notwithstanding the pandemic, with sales and enquiries generally being better in 2020 than the previous year.
“Interestingly, although the mid-value bands were the most consistent last year, holding steady since March, there was a spike in the monthly inflation of the luxury sector in June which, for the first time since early 2018, rose above the annual inflation in that sector.
READ: Cape Town's Southern Suburbs appeal bucks luxury market lull
“There has also been considerable interest from swallows and foreign buyers who are already, or are looking to become permanent residents and this can largely be attributed to the comparative value the area offers and the quality lifestyle residents enjoy.”
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*Property24 Listings Data Disclaimer: The trends detailed in this article are based on Property24 listings, current at the time of publishing, and property transfer data supplied by Deeds offices, which typically take 3-4 months to reflect. Suburbs are listed according to Property24's geographical database. In some areas this will include both commercial and residential properties. The age demographic data of buyers, sellers and stable owners is determined over a six-month period. These Property Values should not be used as a substitute for independent professional advice and is subject to Property24.com Terms and Conditions.
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