Weekend Argus (Saturday Edition)
Access to good schools is a major deciding factor
IN THE Western Cape, families with school-going children move to the southern suburbs, where there are good schools and access to UCT, says Greeff’s Mike Greeff. Working professionals might want to move close to or into the City Bowl to be near work.
A large portion of southern suburbs sellers is moving to the northern suburbs, which offers superb value and big plots, says Seeff’s George Clelland.
They are moving from homes priced from R2m to R5m and buying larger homes priced from R1.2m to R1.6m.
The area is also seeing fewer buyers who are new to the area, a trend which reflects the decline in semigration from other parts of the country in recent months.
Seeff’s Michele Apperley says some City Bowl sellers are moving to the southern suburbs, which offer bigger plots, better value for money and access to schools.
“In the City Bowl property costs about R3m to R4m more than property in the southern suburbs.”
Tamara Nettmann from Century 21 says about 20% of Western Seaboard sellers are moving to other areas in Cape Town, or back to Joburg.
“There is almost a reverse semigration trend occurring, often related to business opportunities.”
Rawson’s Nancy Todd says the recent drought means people are not moving from Joburg to Cape Town as much as they were.
“Also, house prices have become so disparate between the two cities that there’s less affordability in Cape Town. And jobs in Cape Town are more difficult to come by.”
In Hermanus about 10% of sellers are moving to other areas as residents here would rather move than upgrade their homes, says Seeff’s Billy Rautenbach.
“New buyers will upgrade before taking occupation. We are not seeing people hanging on to old properties and renovating.”
Sellers in Hermanus are moving mostly because of price. They are looking for better value for money in areas such as Stanford or the Wilderness.