Agents reveal Western Cape’s ‘hottest’ areas
GEFFEN: Families with children tend to favour the southern suburbs, which are home to several of the city’s best schools. Suburbs near the CBD, which reduce commuter time for people who work in town, are highly prized, and the Atlantic seaboard with its robust market.
Greeff: The big picture shows the strongest performance has been in and near the Cape Peninsula, in subregions closest to the mountainous areas. The five-year cumulative house price growth rate by sub-region, from 2012 to 2017, reveals that the Atlantic Seaboard leads, with estimated cumulative price growth of 141.2%, followed by the City Bowl (106.7%), City near eastern suburbs ( 95.7%), southern suburbs ( 80.5%) and southern peninsula (77.2%).
Pam Golding Properties: Hot investment areas in the Western Cape are practically everywhere. The province has seaside and mountainside properties, popular holiday spots, wine farms, small guest house properties and sectional title apartments that offer investment opportunities. Hot investment areas are also coastal towns from the West Coast through to the Garden Route, as well as in Wineland areas such as Stellenbosch, Somerset West and Paarl.
Re/Max: There is a lot of expansion and development in Somerset West, so there is a lot of stock. Buyers are eager to purchase homes as close to the Cape Town CBD as possible. However, the southern suburbs are very expensive. Somerset West offers them an alternative. Lakeside offers good value, and while prices in the City Bowl are high, they are bound to continue on an upward trajectory.
Seeff: Cape Town’s central and northern suburbs offer some of the best value. In an area like Pinelands, prices for sectional titles increased by 22% in the first quarter of this year and remain a relatively safe haven for investors seeking capital growth and rental income.
Century City is an investor’s paradise due to the shortage of land that can be developed and the high demand for accommodation here. (See next page)