Hout Bay mar­ket healthy in spite of re­ports of slow­ing price growth this year

Weekend Argus (Saturday Edition) - - PROPERTY -

AL­THOUGH sales ac­tiv­ity is no doubt a lit­tle slower in Hout Bay this year, con­di­tions are still very favourable for sell­ers, says James Lewis, li­censee for Se­eff southern sub­urbs, Hout Bay and Llan­dudno.

“Just re­cently, an­nual sales in the sub­urb reached R1 bil­lion. Our agents are still find­ing that well-priced property can sell within 40 days, es­pe­cially be­low those priced be­low R6 mil­lion,” says Lewis.

“The av­er­age sell­ing price in Hout Bay is also up by about 19 per­cent from around R3m last year to just un­der R3.56m. This re­flects a very healthy mar­ket es­pe­cially given that the banks have re­cently re­ported a no­table slow­ing in house prices.”

A good in­di­ca­tion of the healthy mar­ket is the sale of the 24 247m² Bish­ops­ford property, the for­mer Hout Bay Bon­sai Nurs­ery, on the cor­ner of Vic­to­ria and Main Roads for R13m.

Noe­line Huisamen, Se­eff ’s agent who bro­kered the sale says the site is a per­fect fit for the new own­ers, the Hout Bay English Re­formed Church.

“The Bon­sai nurs­ery stood here for about 40 years and had be­come a land­mark in the area. Ear­lier this year though, the own­ers moved their nurs­ery to a new spot in Nova Con­stan­tia and de­cided to sell,” says Huisamen.

“The property was sold for the full listing price. It is one of only a hand­ful of R10m-plus sales in the sub­urb over the last year and the high­est price achieved for this year so far.”

The church has al­ready held its first ser­vice at the property and has some ex­cit­ing devel­op­ments in mind for the site. This in­cludes a church, a the­o­log­i­cal col­lege and a book­shop. Al­though the site is set to un­dergo some trans­for­ma­tion, the gar­dens and an­cient trees will be pre­served.

SOLD: The old Hout Bay Bon­sai Nurs­ery property was sold to the Hout Bay English Re­formed Church for R13 mil­lion, the high­est price paid for a property in Hout Bay this year.

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