Surge in West Coast win­ter prop­erty sales

Un­usual trend as one com­pany more than dou­bled turnover com­pared to last year

Weekend Argus (Saturday Edition) - - PROPERTY -

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.

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