Last year the median house prices in both these scenic enclaves reached record highs with agents reporting a notable increase in upcountry buyers as well as a spike in enquiries from international investors after travel restrictions were eased.
Best sale prices and volumes
Nancy Massing, Managing Director of the Lew Geffen Sotheby’s International Realty Cape Peninsula franchises says, “Prior to the pandemic, the highest median house price in Noordhoek was R7.275 million in 2017 but last year it achieved a new record high of R7.65 million.
“And in Kommetjie, the record median price of R3.51 million achieved in 2021 has already been eclipsed this year with a jump to R4.35 million. And last year, a record number of houses (98) also changed hands.
“Lightstone data further reveals that while 70% of the stable owners and 100% of recent sellers in Noordhoek during the past year were aged over 50, 100% of the recent buyers were aged between 36 and 49, which depicts the changing demographic.”
“Last year we began to see real movement again with many enquiries from Gauteng and KwaZulu-Natal buyers looking move to the area, and international enquiries have also notably picked - not only from Germany, the UK, France and Belgium as per the norm, there has also been unusually high interest from US buyers,” says Lilian Bron, Noordhoek Area Specialist for the group,
She adds that gated communities are most sought-after by upcountry buyers for whom security is always a priority.
Partner Area Specialist, Linette Kempster, “says sales of vacant stands are doing particularly well in low-density Chapman’s Bay Eco Estate which offers excellent potential for capital growth and many of our existing estate homes are either under offer or already sold”.
Well-priced and sought-after property
“The most active price band in Noordhoek is R5 million to R10 million however, many upcountry buyers are astounded when comparing prices between Cape Town and other provinces although most consider the lifestyle and tranquil, scenic environment well worth the price.”
In neighbouring Kommetjie, homes priced between R3.5 million and R5 million are most sought after with those offering sea views, proximity to the beach and flatlets being especially popular according to Area Specialist, Natalie Cooper.
“That being said, the whole market has done exceptionally well since lockdown restrictions began to ease with a much higher volume of higher-priced properties selling than in previous years.
“There is also ongoing development in the area to keep up with the growing demand. Riverside Village, about 1km from the beach, is selling vacant stands and, with a design manual available, buyers will be able to design and build their own homes.
“Village Lane is a sectional title development of modern apartments in the central area with a choice of either upstairs units with balconies or downstairs units with gardens.”
Considerable commercial development and appealing possibilities
Kommetjie has seen considerable commercial development in recent years with very little commercial expansion in Noordhoek, however, according to Robin Lautenbach, Commercial Specialist for the group, one of the last remaining large stands in Noordhoek has just come up for sale and, with current rural zoning it offers appealing possibilities.
Noordhoek has currently *34 new property listings, according to property24 Trends Data, with the average asking price for the area being R3.795 million. The average sale price per erf for 2021 was about R3.1 million, while Section Scheme Units for the same period is about R870 000.
The latest residential listings on Property24 show that four-bedroom homes are most widely available, at an average list price of R6.5 million. Sellers in the area fall within the 50-64 years age group (41%), while 30% of buyers fall within the same age group.
Click here to see all the sale and listing price trends in Noordhoek
With its current zoning, the 8 000sqm plot in Crofters Valley would be ideal for a number of ventures, from farming and equestrian to residential development or even probably an exclusive guesthouse.
“One of the main advantages of this erf is its excellent position which boasts sweeping views from Kommetjie across to Chapman’s Peak and, as the surrounding land has already been developed, these views can never be lost.
And, with the land being gently sloping, buildings can be placed strategically to optimise these views.”
Kommetjie has currently *11 new property listings, according to property24 Trends Data, with the average asking price for the area being R3.395 million. The average sale price per erf for 2021 was about R3 387 500, while Section Scheme Units for the same period is about R1 337 500.
The latest residential listings on Property24 show that four-bedroom homes are most widely available, at an average list price of R64.3 million. Sellers in the area fall within the 50-64 years age group (38%), while 53% of buyers fall within 36-49 years age group.
Click here to see all the sale and listing price trends in Kommetjie
Massing says idyllic locations alongside the ocean, tranquil settings and laidback country lifestyles set these two suburbs apart from most areas in Cape Town, firmly placing them in a class of their own.
“With its quiet leafy lanes, Noordhoek has a serene rural atmosphere, offering residents the epitome of a relaxed village lifestyle. Equally laid-back, Kommetjie still enjoys a strong sense of community and is especially appealing to water sport enthusiasts and nature lovers.”
Great outdoor living
“Those who love the great outdoors are spoilt for choice in this scenic region as they can indulge in all manner of activities including hiking, fishing, horse riding, boating and cycling without venturing very far from their front doors.”
“We are in a really positive phase of the market with loads of potential lying ahead for buyers and sellers. The growth of the market and our company in the area allows us to currently expand into new areas and we are busy growing our remarkable team,” she says.
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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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