Archive News
Table View tops in SA property deals. 19th April 2008
By MELANIE PETERS
Table View is one of South Africa’s best-selling suburbs, according to the SA Property Transfer Guide.
The guide’s recent figures indicate estate agents in Table View had the highest number of property transfers, along with Umhlanga Rocks in KwaZulu-Natal and Bryanston in Gauteng.
The guide also rated Camps Bay and Constantia as the most expensive SA suburbs, averaging sale values of between R6 million and R7m. Fresnaye and Hyde Park in Johannesburg made the "upper crust" category as the "habitats of the elite of South African society."
It said the "upper crust" were highly educated, with one in four residents holding a university degree and with a household income which was the highest in the land.
Caron Leslie, owner of RE/MAX Table View, said they had concluded several sales over the asking price of R2m, with the highest sales being three properties on the Western Seaboard near Table View ranging from R3.1m to R3.4m.
"We have noticed a trend of more young couples and families purchasing on the Western Seaboard as opposed to Atlantic Seaboard."
Jeanne van Jaarsveldt, marketing and finance director of RE/MAX of Southern Africa, said the listings in the suburb had increased from 450 to 617 in the past four months.
"We concluded a record transaction value for a RE/MAX office outside of North America of R1.3 billion last year, clearly indicating that the Table View market is very buoyant and a preferred area of residence for Capetonians."
He said the Table View market appealed to the lifestyle of this buyer profile in terms of access to leisure facilities, water sport and golf. Properties in this price bracket had been largely unaffected by the National Credit Act and increased cost of lending, as over 50% of these transactions were cash-based or subsidised with deposits from 20% to 50%.
He said the upper-end of the real estate market remained buoyant, with a consistent demand for luxury homes which had not been dramatically affected over the past 24 months.
Laurie Wener, Pam Golding Properties’ MD for the Western Cape metro region, said the top-end price ranges remained very active despite the general slowdown in the market. They recorded a number of top-level sales in the final quarter (December last year to February this year), including 30 sales over R5m, of which 10 were priced above R10m.
Agents in Camps Bay sold a R16.5m home to a British couple, while negotiating a record price of R6m for a vacant residential plot in the suburb - bought by a local purchaser.
In Bishopscourt, two luxury homes were sold at R19m and R12.5m, while the Constantia team sold six homes at a total value in excess of R52m in January and February.
Pam Golding’s Atlantic Seaboard "prestige team" sold properties to the value of R88m in January.
Four of these sales were to local buyers, while one saw a derelict home in Clifton selling for the full asking price of R15m within a week of coming onto the market.
Table View tops in SA property deals. 19th April 2008
By MELANIE PETERS
Table View is one of South Africa’s best-selling suburbs, according to the SA Property Transfer Guide.
The guide’s recent figures indicate estate agents in Table View had the highest number of property transfers, along with Umhlanga Rocks in KwaZulu-Natal and Bryanston in Gauteng.
The guide also rated Camps Bay and Constantia as the most expensive SA suburbs, averaging sale values of between R6 million and R7m. Fresnaye and Hyde Park in Johannesburg made the "upper crust" category as the "habitats of the elite of South African society."
It said the "upper crust" were highly educated, with one in four residents holding a university degree and with a household income which was the highest in the land.
Caron Leslie, owner of RE/MAX Table View, said they had concluded several sales over the asking price of R2m, with the highest sales being three properties on the Western Seaboard near Table View ranging from R3.1m to R3.4m.
"We have noticed a trend of more young couples and families purchasing on the Western Seaboard as opposed to Atlantic Seaboard."
Jeanne van Jaarsveldt, marketing and finance director of RE/MAX of Southern Africa, said the listings in the suburb had increased from 450 to 617 in the past four months.
"We concluded a record transaction value for a RE/MAX office outside of North America of R1.3 billion last year, clearly indicating that the Table View market is very buoyant and a preferred area of residence for Capetonians."
He said the Table View market appealed to the lifestyle of this buyer profile in terms of access to leisure facilities, water sport and golf. Properties in this price bracket had been largely unaffected by the National Credit Act and increased cost of lending, as over 50% of these transactions were cash-based or subsidised with deposits from 20% to 50%.
He said the upper-end of the real estate market remained buoyant, with a consistent demand for luxury homes which had not been dramatically affected over the past 24 months.
Laurie Wener, Pam Golding Properties’ MD for the Western Cape metro region, said the top-end price ranges remained very active despite the general slowdown in the market. They recorded a number of top-level sales in the final quarter (December last year to February this year), including 30 sales over R5m, of which 10 were priced above R10m.
Agents in Camps Bay sold a R16.5m home to a British couple, while negotiating a record price of R6m for a vacant residential plot in the suburb - bought by a local purchaser.
In Bishopscourt, two luxury homes were sold at R19m and R12.5m, while the Constantia team sold six homes at a total value in excess of R52m in January and February.
Pam Golding’s Atlantic Seaboard "prestige team" sold properties to the value of R88m in January.
Four of these sales were to local buyers, while one saw a derelict home in Clifton selling for the full asking price of R15m within a week of coming onto the market.
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