Approximately 13% of the sales registered in Plettenberg Bay in 2014 to date have occurred in Brackenridge Private Residential Estate, confirming its status as one of the most popular suburbs in Plett.
Average prices nearly doubled, mainly due to the increase in the sales of houses and decrease of vacant land as building in the development continues at a steady pace.
With another month left for sales to register, 2014 is already the best post-launch year for the estate, and it is safe to say that Brackenridge is one of the better areas to purchase in Plett.
Current asking prices range from R230,000 to R2,1m for vacant land, and R2,4m to R13,85m for luxury homes.
Brackenridge is the only estate in the area that boasts water independence, with its own filtration plant and strong borehole; a valuable asset in a town that needed to construct a desalinisation plant due to water shortages.
Statistics in for the estate need to be seen in context, as vacant land is not separated from improved land in transfer information. The bulk of the transfers occurred in 2004 shortly after the estate was launched. This was obviously for vacant land, whereas transfers in later years have a higher proportion of houses, so averages are naturally higher.
The figures above were taken from deeds information on the 27th of November 2014. Sales below R100 000, known non-market transactions, 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). A number of sales are still in the registration process, so the picture could change somewhat for the final year.
For a copy of the graphs,Â send me an email from the contact page.