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2016 FIRST QUARTER SALES FIGURES COMPARED TO 2015.

Category Property Sales in Plettenberg Bay

With the second quarter almost done, and with a bit of distance from the first quarter, we think it’s appropriate to take a look at this year’s first quarter sales figures compared to 2015. A quick glance confirms that this years’ first quarter sales are down nearly 4% compared to last years.

 

R2-3m sales down 70%

 

That’s right, there were 17 sales in this category in 2015 and 10 in the same period this year. Sales in the R3-4m price bracket are also down by approximately 45%, dropping from 9 to 5 sales.

 

When looking at the upper end of the market, we note that no properties in the R15m+ price bracket were sold in 2015, compared to four properties sold in 2016, two of which are in Seaside Longships.

 

 

 Suburbs with most sales in first quarter 2015 were:

1.The suburb of Plettenberg Bay - 17 sales

2.Whale Rock – 16 sales

3.Sea Side Longships – 14 sales

4.Keurboomstrand – 10 sales

5.Goose Valley – 9 sales
 

Suburbs with most sales in first quarter 2016:

1.The suburb of Plettenberg Bay - 17 sales

2.Keurboomstrand – 13 sales

3.Sea Side Longships & Whale Rock – 12 sales each

4.River Club – 9 sales (new entry)

 

After an extremely busy sales period over December and January, we expected sales for the first quarter of 2016 to surpass those of 2015.  It may well be that the transfer of a number of these sales will only take place in the second quarter of 2016, and it will be interesting to see how the sales for the second quarter of 2016 compare to those of 2015.

A recent article in the Financial Times devoted its entire piece to the shortage of good properties in Plettenberg Bay.  We all know that demand for this area is growing year on year, and that high-quality, well-priced properties are tough to find. We have found that there is plenty stock available of high quality properties over R4M, where supply well exceeds demand!  There is however, a shortage of stock of market-priced properties under the R2.3M mark and in the top secure gated estates.

That’s why at Helen Melon we always strive to work with sellers who are pricing their properties based on informed knowledge about the market and related prices. Our policy is not to overvalue properties in order to obtain a sole mandate and disappoint sellers.

Having said that, we continue to see plenty of activity in the local property market, and the Western Cape market continues to outstrip the rest of the country.

It will be interesting to see in the second quarter if the volume of sales has increased compared to 2015; if there is any change in the prices achieved; if these changes are indicators that the properties at the lower end are beginning to firm, and if the pendulum is beginning to swing from a buyers’ to sellers’ market. 

 

Comparison of sales first quarter 2016/2015

 

2016: 104 sales, of which 45 were under R1m, 31 are between R1m and R2m, 10 are between R2m and R3m and 5 between R3 and R4m. There were 13 sales above the R4m mark

2015: 108 Sales of which 43 were under R1m, 28 were between R1m and R2m, 17 were between R2m and R3m, and 9 between R3 and R4m. There were 11 sales above the R4m mark

We at HMP will continue to keep an eye on the market and get back to you soon with those second quarter figures. In the meantime, if you want to buy or sell, or just want to talk about the local property market, pop into our office for a cup of coffee and a chat, or just email us.

Suburbs used in comparison were Bowtie, Brackenridge, Cutty Sark, Goose Valley, Harkerville, Keurboomstrand, Lower Central, Lower Robberg, Plettenberg Bay, Poortjies, River Club, Robberg Ridge, Schoongezicht, Sea Side Longships, Signal Hill, The Crags, Upper Central, Upper Robberg, Whale Rock, Bitou Nu, Wittedrift and Knysna Rd.

Statistics for actual sales do not include transfers for no value, i.e. deceased estates, transfers from entities or natural person, etc. and sales in life right and share block schemes.

 

Author: claire walker

Submitted 22 Jun 16 / Views 2750