Rapid tran­sit sys­tem set to boost prices in Melk­bosstrand

Weekend Argus (Saturday Edition) - - PROPERTY -

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.

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