Keurbooms Property Market Review 2017-06-27
In Keurbooms proper (main town) 6 properties transferred in 2016 for an average of R6,65million.
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 is currently converting to full title ownership, is not included.
The sales prices ranged from R2,1m to R13,595million. The R13,595million sale was for a beachfront house on Main Street, and is the highest price in Keurboomstrand proper to date.
In 2017 the highest price so far is R12,3million for a house on the front row in Keursands. 4 sales have registered in 2017 so far.
The dramatic increase in average prices needs to be seen in context, but it does indicate an improvement. There are also not enough sales in Keurbooms to make the figures statistically significant, but they give an indication of rough trends. The ‘semigration’ taking place in South Africa as more people move to the Western Cape is a contributing factor.
In the town itself I know of two vacant plots from R1,95m to R2,75million, and two houses for sale from R6,3m to R7,5million.
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 figures above were taken from Lightstone on the 27th of June 2017. 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.
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