Simon’s Town and Glencairn home prices back on par with 2008 peak

ALTHOUGH there have only been 34 property sales this year in Simon’s Town and Glencairn, the average price achieved for freehold homes in S i mon’s To wn h a s b e e n R2.578 million and in Glencairn R1.3m.

According to Lightstone’s figures, this shows prices are on a par with those achieved at the peak in 2008, says Christine Crowley, an agent in the Rawson Property Group’s Simon’s Town office

“Since 2006 Simon’s Town’s average prices have been among the steadiest in the country, never dropping below R1.7m. Also, the area has had almost no sales in execution – on average only one a year. I’m sure certain perceptions about the area will be changing in the near future,” says Crowley.

“Simon’s Town has been regarded by many as a village in which to retire, but although retired people are still prominent among our buyers, most are looking for holiday homes or places in which to live and work, and then commute up the line or around South Africa,” she said.

The naval dockyard employ- ees don’t buy homes in the area because Simon’s Town homes are too expensive for most of the staff.

In Simon’s Town and Glencairn, she says, the big demand is for houses priced from R750 000 to R2.3m. However, in Simon’s Town some 90 percent of properties are priced above R2m, and the agency has just sold one for R7.5m.

In historical central Simon’s Town, homes usually sell for between R2m and R5m.

Freestanding homes i n Glencairn sell for between R750 000 and R2.3m.