Rapid transit system set to boost prices in Melkbosstrand
ALTHOUGH there are clear signs that the Melkbosstrand residential property market has bottomed out and prices are set to rise again, those buying here in the next two to three months will still find that they can benefit from the substantial – up to 25 percent – price drops that have taken place over the past 18 to 24 months, says Dave Evans, co-principal (with his wife, Anne-Marie) of the Rawson Properties Melkbosstrand franchise.
“This means that despite the demand for Melkbos homes, many can still be had for under R2 million. Indeed, the average sale price this year has been R1.2m.
“A two-bedroom cottage in Duynefontein was sold recently for just over R1m,” says Evans.
At the other end of the scale this franchise has one or two Melkbos homes on its stock lists that are priced from R5m to R11m.
Evans says in the first quarter of 2009 the Rawson franchise sold 21 properties with an average value of R1.167m. In the second quarter it sold 18 properties at an average of R1.6m, and other agencies are experiencing a similar upturn.
Evans says the new rapid transit system to be installed between Table View and the city will raise the value of all homes in the area.
“Obviously, there will be many who still stick to their cars, but Cape Metro is hoping 15 to 20 percent of the residents here will use the system, which could reduce their travel time by 45 minutes. The traffic congestion into the city is the only negative factor attached to West Coast property. The new system could bring about a significant change.”
REASONABLE PRICE: This f our bedroom home i n Duynefontein, Melkbosstrand, is for sale at R1.995 million through Rawson Properties.