Keurbooms Property Market Review 2019-01-17
In Keurbooms proper (main town) 4 properties transferred in 2018 for an average of R7,86million each or R31,432,000 in total. The total and number of sales were substantially down and the average was substantially up.
These figures are for full title single residential properties in the town of Keurbooms only, and does not include the outlying areas, except for The Waves to the West. Keurview, which is a share block scheme overlooking Keurbooms which recently converted to full title ownership, is not included.
The sales prices ranged from R5,58million to R9,75million for an older home on the beachfront in Main/Hoof Street. The highest price to date was for a house in The Waves for R17,5million in 2017.
All figures need to be seen in context. There are not enough sales in Keurbooms to make the figures statistically significant, but they give an indication of rough trends over time.
In the town itself I know of three vacant plots from R1,95m to R9,5million (the latter is large development land), four houses for sale from R3,7m to R10,4million, and a resort for R27million.
The growth rate in Keurbooms over the past 20 years has been well above the national average. Unlike the national property market, Keurbooms appears to have retained most of its value. There is limited stock and therefore the number of sales is limited. The ‘semigration’ taking place in South Africa as more people move to the Western Cape is a contributing factor.
The figures above were taken from Lightstone on the 17th of January 2019. Sales below R100 000 are not included in the graphs, and duplications and non-market transactions have been removed (e.g. when a developer buys numerous properties for a single price and each is listed at the full price, only the single figure is taken or known inter-family sales are removed). Figures were drawn by transfer date, not date of sale.
If you would like to receive a copy of the graphs mentioned in this report, please click on the link in the title at the top of this post or e-mail: steven@sapv.co.za (include the area that you are interested in).
