Surge in West Coast winter property sales
Unusual trend as one company more than doubled turnover compared to last year
THE CAPE West coast has had an active winter season when it comes to residential property sales, which is most unusual, given the typical seasonality of this market, according to Pam Golding Properties (PGP).
“The par t i c ul arly c ol d weather in July and August did not keep buyers away, with continued enquiries and offers in most areas, from Yzerfontein all the way north through the West Coast National Park to Langebaan and Saldanha Bay, and further north to Britannia Bay, Shelley Point and Velddrif/Port Owen,” says PGP’s area manager for the West Coast, Stephanie Wynne Cole.
“Surprisingly, June showed the best results of the year, an almost unheard of occurrence. Our agents sold property worth nearly R15 million, more than double the R6m sold in June 2012. We’ve had a very busy few months, with sales for January to August totalling 57 properties worth more than R68m – a substantial increase on the 35 sales for the same period during 2012.”
Wynne Cole says demand is coming primarily from cash buyers looking for second homes for holiday use, as well a s f a mil i e s who want t o move to the area permanently. Buyers were mainly from Cape Town, Stellenbosch and Paarl, some locals moving within Langebaan, and a small number from elsewhere in Africa.
Demand is concentrated in several price ranges, including vacant plots from R200 000 to R400 000, t ownhouses and modest homes from R700 000 to R1.5m, and l arg e r f amily homes priced from R2m to R4m. This year PGP has also sold two luxury properties priced at over R5m each.
“Most buyers a r e s t i l l extremely value- conscious,” says Wynne- Cole, “and are being selective about their purchases; they are prepared to wait for the right home at the right price. But it is encouraging to see the overall upturn, as well as specifically the renewed interest in vacant plots – a sector that has been fairly quiet for the past few years.
“This is indicative of the number of families moving into the area, who wish to build their own new homes large enough to accommodate their lifestyle needs. On the other hand, many holiday homes are on the market at below replacement cost, so it makes good sense to buy instead of build, if you are looking in this market segment.”
The West Coast is an established residential area with a wide range of amenities from a major shopping mall to several private schools, most of which are expanding their capacity to meet the growing demand from permanent residents.
“It’s also encouraging to see the newer residential estates s t ar t i ng t o mature,” s ays Wynne Cole, “particularly the Langebaan Golfing Security Estate, where a number of quality homes are being built by reputable companies. Yzerfontein with its Blue Flag beach is another area where demand is high, especially from holiday and weekend buyers. The quaint town of Paternoster is also increasingly popular for its range of restaurants and fishing village ambience.”
New shops and small commercial clusters are opening throughout the West Coast region, and PGP has moved into new premises in Velddrif.
“The area is enjoying a surge of popularity and a sense of momentum which will accelerate once the Industrial Development Zone at Saldanha starts taking shape.”
Call Stephanie Wynne Cole o n 0 8 2 5 7 0 6 5 4 0 o r e mail stephanie. wynnecole@ pam golding.co.za.
EASY LIVING: This four-bedroomed Port Owen waterfront home on the access-controlled Admiral Island, with its own private jetty, is for sale at R6.99 million.