Wittedrift Property Statistics – 24.05.2018

Wittedrift Market Review 2018-05-24

The Wittedrift property market remained fairly flat in 2017, after strengthening in 2016. In 2017, 5 propertied transferred for an average of  (2016 saw 11 properties at an average of R975,000). A number of sectional title units sold in 2017. It is a small market where there are usually only a few houses for sale, so it is difficult to a reliable picture of the market by looking at any one year; it is better to look at the graphs over time.

The highest price to date is R1,64million for a house in Hoof Road in 2008. The highest sale in 2016 was R1,100,000 for a home in Strydom Avenue. It was previously rare for houses to sell for over R1million, but 5 houses sold for more than this in 2016.

There are currently at least the following on the market in Wittedrift: 4 houses asking from R1,495,000 toR1,750,000, 1 apartment/townhouse for R990,000, 3 plots ranging from R330,000 to R375,000, and 1 commercial property for R1,32million.

Wittedrift appears to be following national trends in terms of growth and decline. Wittedrift has historically been a more affordable “satellite suburb” of Plettenberg Bay.

There are not enough sales in Wittedrift to make the historical analysis statistically significant, but an indication of rough trends can be gauged. The figures above were taken from Lightstone on the 24th of May 2018. Sales below R100 000 are not included in the graphs, and duplications 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). An attempt has been made to exclude any transactions that are not “arm’s-length” (e.g. sold to a family member). 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 heading of this post or e-mail: steve@sapv.co.za (include the area that you are interested in).

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