Top Schools And Semigration Drives Western Seaboard Property Prices
Category Cape Town Property Market
The Western Seaboard has fast become among the most attractive places to live within the Western Cape. It's, therefore, no surprise that the area has been attracting locals, semigrants from the upcountry, family orientated purchasers, as well as foreign buyers over the past 18 months. The key premium attributes of the area that are luring purchasers are the Western Seaboard's natural beauty, beaches, security and lifestyle.
Nic Morkel, area specialist broker at Quay 1 says that, "when South Africa first went into hard lockdown in the first quarter of 2020, the property market within the region experienced rapid stock shortages as many residents put their selling plans on ice. However, when restrictions started easing in Q3 and Q4 of 2020, trade rapidly resumed in most segments of the market."
This momentum has continued into 2022, with Quay 1 area specialist brokers noting high demand across the Western Seaboard, particularly for beachfront areas such as Big Bay and Blouberg, as well as homes in Milnerton, Sunningdale and Parklands.
Another contributing factor to the demand within the above areas is the proximity to quality junior and high schools. One of the prerequisites for most schools is that pupils must live within close proximity to be accepted. This, therefore, plays a significant role in the buying decision making process for families with children.
As a result of the demand, correctly priced properties are typically being snapped up within 1-6 weeks!
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 a depreciating rand can all have the ability to put downward pressure on activity levels. Therefore, a "strike while the irons 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 however 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 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
