Southern suburbs, rural areas are drawing buyer attention

SAFETY and cleanliness attract buyers, but the adage of location, location, location still holds sway.

In Cape Town, agents are reporting the southern suburbs are attracting more buyers than ever. But rural areas such as Tokai and Zwaanswyk are also capturing attention, as is Lakeside, near Muizenberg, with its views, access to Zandvlei for watersports, and proximity to the warm-water False Bay beaches.

Then there are those who want to live in the City Bowl, where spiralling prices have encouraged them to move further afield, prompting the revitalisation of areas like Woodstock, Salt River and Walmer Estate.

Southern suburbs: These areas are increasingly popular thanks to value for money, access to good schooling, and decentralised office nodes.

Denise Dogon, of Dogon Group Properties, says their office in this area has seen a 55% increase in sales compared with last year.

As prices have soared on the Atlantic seaboard, locals, foreigners and semigrants are seeking value for money elsewhere, and Newlands, Rondebosch and Claremont are providing an answer.

Traffic congestion means people want to live, play and work in one area. “Mixed-use suburbs are a trend on the rise.”

And it’s not just about traffic. “Claremont, Rondebosch and Newlands offer beautiful, safe surrounds and well-built homes. There are good schools nearby, and the University of Cape Town, and access to myriad leisure activities.”

Dogon says the attraction of mixed-used suburbs where people can live, work and relax will spread, and the northern suburbs and West Coast suburbs of Blouberg and Hout Bay will increasingly follow the trend.

Vleis and the countryside: Many semigrants from Gauteng and KZN long for a simpler, more rural lifestyle, says Dawn Bloch, area specialist in Lakeside, Zwaanswyk and Kirstenhof for Lew Geffen Sotheby’s International Realty.

“A Joburg buyer told us she was in love with her new life in Lakeside, high up on the mountainside with views of Zandvlei, the train passing and children skateboarding and cycling. Flocks of flamingoes and pelicans are often seen as well.”

Bloch says Zwaanswyk has a strong equestrian community as it is one of few places in the southern suburbs where horses can be stabled.

“Many Constantia properties have been subdivided and stables closed due to the land being developed. Consequently, many buyers have invested in semi-rural Zwaanswyk, with views of the False Bay coastline, the Constantia Valley and mountains and mature trees, and access to trails.

“Buyers long for space, which Zwaanswyk provides with its large plots. It is also close to excellent schools, wine estates, shopping centres, restaurants and medical centres.”

Woodstock and Walmer Estate and University Estate: Increasing demand for residential property close to the CBD has driven the revitalisation of adjacent suburbs, with Woodstock, Walmer Estate and University Estate now attracting broad buyer interest, says Lew Geffen of Lew Geffen Sotheby’s International Realty.

In 2012, according to Propstats figures, 32 sales were recorded in Woodstock with only two realising more than R2 million. Two years later, the number of sales had almost doubled, with five breaching the R3m mark. Last year, 68 properties changed hands. Of these, 10 sales fetched R3m and one was just short of R5m.

Property values have also soared in Walmer and University estates. Renovated properties higher up the mountain, which command views across Table Bay, can sell for as much as R9m.

Dave Burger, area specialist for Lew Geffen, says: “These suburbs have become popular with young professionals working in the city who can’t afford spiralling City Bowl prices.

“Urban regeneration in Woodstock has seen former light industrial properties being converted into modern mixed-used developments offering lock-up-and-go convenience.

“One selling point of the area is its all-encompassing sense of community. Woodstock is a Mother City institution; many families have lived here for generations and this kinship embrace affords new residents insight into Cape Town’s long and multi-cultured history.”

He adds: “The regeneration, easy access to the CBD and freeways, and proliferation of new first-rate amenities, has made the area appealing. Roodebloem Road is lined with restaurants, and the area around the Old Biscuit Mill is home to craft, artisanal eateries, quirky boutiques and décor outlets.”

The rental market has grown in tandem with the sales market, which has led to a surge in investor purchasing.