Wittedrift Property Statistics – 17.01.2019

Wittedrift Market Review 2019-01-17

The Wittedrift property market remained fairly flat in 2017 and 2018, after strengthening in 2016. In 2018, seven propertied transferred for an average of R790,000 (2016 saw 11 properties at an average of R975,000). A sectional title unit and two plots are included in 2018. It is a small market where there are usually only a few houses for sale, so it is difficult to get 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 2018 was R1,300,000 for a home in Heuwel Street. Pre-2016 it was rare for houses to sell for over R1million, but a substantial number of homes have sold for more since then.

There are currently at least the following on the market in Wittedrift: 3 houses asking from R1,395,000 to R2,495,000, 1 apartment/townhouse for R990,000, 1 plot for R400,000, and 2 commercial properties for R1,32million and R1,675,000.

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 17th of January 2019. 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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