Fine openings exist for first time buyers
Ottery and Grassy Park lure property value seekers to the southeastern side of the city
WHILE the average house price across the country continues climbing above R1m, especially in the Cape metro, it is refreshing to know that there are still plenty to buy below this level on the southeastern side of the city.
Two of these areas are the neighbouring suburbs of Ottery and Grassy Park that rank among the most affordable and sought-after suburbs, especially for first time buyers, according to Gary Grobbelaar, chief executive of Seeff ’s operations in the False Bay and southeastern suburbs’ areas.
“The southeastern suburbs are the fastest selling areas in the city with properties spending about four weeks on average on the market,” he says.
“While low on price though, Ottery and Grassy Park, score high on value as well as access and facilities.”
The suburbs are next to the M5, and Grassy Park extends right down to the beach. These areas form part of what is traditionally referred to as the Cape Flats.
Residents enjoy a laid-back lifestyle, access to excellent infrastructure, views of the False Bay coastline, Table Mountain and the southern suburbs.
Agents Lynette Bartleson and Antoinette Hartnick say that Ottery has about 4 500 residents. There are 1 491 freehold houses, about 247 sectional title complexes and a few estate houses in the area. Almost half of all recent buyers are under the age of 35 and they are quite often first time buyers.
Grobbelaar says the average price of a freehold house is still around R1m and around R700 000 for sectional title units, according to the latest Lightstone transfer data. However, prices have risen year-on-year and are now about 50 percent higher than in 2010.
The agents says an advantage for buyers is the diverse selection of property on offer, from small two-bedroom cottages priced at around R400 000 to three-bedroom houses priced from R750 000 to R1 million. Prices for larger, more modern houses though range to about R1.7m for four bedrooms.
Sectional title properties are quite hard to come by with prices starting at R300 000 for a two-bedroom flat and range to about R700 000 for a three-bedroom townhouse.
More than 90 percent of the workforce in the area are employed and almost 70 percent of homes have been in the same hands for 11 years and longer, say the agents.
There are several sub-areas in Ottery with Royal Cape ranking the highest in value, followed by Woodlands Park, Ferness, Ottery East and Wetton.
Ottery offers its residents excellent access to amenities including schools such as Ferndale and Battswood Primary Schools and Ottery High, along with shopping facilities such as China Town, the Ottery Shopping Centre and Value Centre. There is also a Crawford Campus, a police station and a new driving licence testing centre.
The Palms is a new security estate with two and three-bedroom townhouses priced from R699 000 to R899 000 in the Ferness Estate area of Ottery.
Neighbouring Grassy Park is surrounded by fynbos and a diverse range of wildlife, wetlands and lakes on the one side and the sea to the other, on the False Bay coast. The area has almost 15 000 residents and a very stable contingent of property owners with almost 70 percent owning their homes for 11 years and longer according to area specialist, Denise Walpole.
Here too, it is freehold houses that dominate the area with 3 492 units along with 369 sectional title units.
“The freehold house price for Grassy Park is around R850 000, up by over 30 percent since 2010 and the average sectional title price is R230 000, which has remained quite flat over the last few years,” says Grobbelaar.
Walpole says that sectional title properties on offer range in price from around R270 000 to R680 000 for two-bedroom units. House prices start at around R750 000 and range to around R1.3m for an average three-bedroom house, but can now range to almost R1.5m for a more luxurious house in the area.
As with most of the surrounding areas, Grassy Park residents have access to good schools.
“If you are looking for a safe neighbourhood with good schools and amenities, then Ottery and Grassy Park are excellent choices,” says Grobbelaar.
“These areas offer excellent value for money and are practically on the False Bay coast with access to excellent beaches and water sports, restaurants and more.”
This three-bedroom cottage in a security complex in Ottery is for sale at R950 000.