Top City Bowl schools fueling the demand for property
Category Cape Town Property Market
City Bowl schools have had some of the top academic results in the country over the past few years. This performance is, in turn, driving demand for properties within the region. A prerequisite for most of these top schools is that the student's family needs to live close to the academic institution, within the zone commonly referred to as "the catchment area."
Herzlia, St Cyprian's, Jan Van Riebeek, Reddam House, Camps Bay High, The German and French schools, are all notable institutions driving the price of City Bowl property upwards. Family home buyers and tenants are often willing to sacrifice space, area preferences and value for money to get their children into some of these prestigious schools.
Buyers investing in these family homes typically own them for five years or more and have historically, typically enjoyed double-digit property growth over these timeline cycles which has also added an element of attraction from an investment perspective.
It is not only free-standing homes that are receiving attention. Sectional title properties have also enjoyed demand from family-orientated purchasers due to their increased sense of safety, community and lock-up & go convenience.
However, despite current optimism in the market, potential sellers are cautioned to be wary of taking a "sit, wait and hope" approach when it comes to house price increases as stimuli such as interest rate hikes, load shedding, and inflation can all have the ability to put downward pressure on activity levels. Therefore, a "strike while the iron's hot" approach should be taken into account when considering when to go to market.
2022 has got off to a busy start, with the Quay 1 International Realty team concluding over R95,000,0000 in gross sales over the last six weeks. We are hopeful that this year will attract a higher degree of stability which should bode well for sentiment and increase the likelihood of the market continuing to track an upward trajectory as the year progresses. We are also realistic and understand that this is by no means guaranteed in times where, "expecting the unexpected" has become the norm.
Are you interested to know what your property is worth in this time of increased buyer activity? Please click on the button below for a complimentary consultation with one of our area specialist brokers or generate a data-rich digital valuation.
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Author: Quay 1 International Realty
