SHOWING ARTICLE 27 OF 37

2016 PROPERTY SALES IN PLETTENBERG BAY

Category Property Sales in Plettenberg Bay

Plett, the Darling of the Garden Route

It’s hard to believe that it’s almost May and that we’re well into the second quarter of the year. The good news is that there is plenty encouraging news coming out of Plett, especially when it comes to the local property market. In this newsletter, we take a look at how South Africa’s new status, “Junk” will affect the property market, if at all. We also mention a few accolades that Plett has received recently, including been named as one of the top 10 attractions in SA. Finally, we decipher the property sale figures for 2016 compared to 2015.

Never a dull moment in this gem of the Garden Route, which is why so many people are purchasing property here, many of whom are relocating from outside the region. We love it here and understand the attraction. Here’s the latest news from our little corner of heaven. 

Junk status and the housing market: The experts speak.

A lot has been said and written about our newly “achieved” junk status. Now, apart from the horrible name, what affect does this new status of ours entail? We’ve heard from a few experts – here’s the lowdown.

Most property experts agree that the junk status is not a good thing, and will negatively impact our economy and the property market. The consensus is that our new status could cause a rise in inflation and interest rates, which will negatively impact on peoples’ incomes. This will subsequently will affect the property market as well, particularly those properties in the lower end of the market.

Plett named one of the top 10 attractions in SA

For those of us who live here, we don’t need convincing that is one of the best places to live in South Africa, if not the world. Having said that, it’s always nice to get affirmation from other sources. 

We’ve received a couple of these lately and we’re always chuffed when others notice what we already know. First up, Culture Trip, a well-known travel site has announced Plett as one of the top 10 places to visit in South Africa. From our pearly white beaches to our magnificent mountains and all the attractions and activities in-between, Plett has proved itself as an amazing place to live or visit. 

Another feather in our beautiful cap, is that Plettenberg Bay has been nominated in the 24th annual World Travel Awards™ as Africa’s leading beach destination. This is the 8th time our humble suburb has been nominated in this category.

Plett also recently received Blue Flag status for five beaches during the 2016/17 season. This included Robberg 5 (8th year), Keurboomstrand (6th year), Nature’s Valley (5th year), Lookout (3rd year) and the latest addition to this prestige group, The Dunes beach.

Sales comparison – 2015 vs 2016

With final figures in from last year, we can finally take a look at how good 2016 was for the local property market compared to the previous year. Sales by volume and value have increased significantly over the last few years, and 2016 showed the best results since statistics were started in the area in 2013.   Sales for 2016 were up a staggering 17.7%  by volume compared to 2015.

Noticeable milestones.

  • Plett is definitely attracting more permanent residents, which bodes well for the local economy. 
  • Demand for properties in gated communities is high, especially among buyers who are retiring or relocating.
  • There is a continued interest for farms and small holdings in the Bitou area.
  • This is the first time that River Club made the top 5 selling suburbs with 30 sales, compared to the 23 sales in 2015.
  • For the first time since 2013 Goose Valley did not make the top 5 selling suburbs.
  • At HMP, we noticed a definite decrease in foreign buyers in 2016; this trend seems to be continuing in 2017.

Additional Highlights

  • The largest increase, measured in terms of sales value, is the R5-R7m category which saw 2016 sales increase by an astounding 109% from 2015. (23 sales compared to 11 in 2015).
  • In contrast the R7 - R10m bracket saw a 45% decline in sales. (6 sales compared to 11 in 2015)
  • Another significant mover was the R3 - R4m bracket which saw 40 sales last year compared to 23 in 2015.
  • The under R2m price bracket, which normally make up ±75% of sales, decreased from 73.98% in 2015 to a low of 68.56% in 2016.
  • Sales above R10m increased from 12 to 16
  • Four properties were sold in Barons View in 2016 compared to none in 2015.
  • Bowtie, Poortjies, Robberg Ridge and Signal Hill all showed over a 100% increase in sales in 2016 compared to 2015.

The Garden Route continues to prove itself as the must-visit destination in South Africa. Whether you want to buy a property in the area or just visit, you’ll never leave disappointed. That’s if you leave at all.

Note:

  • Suburbs used in this comparison were Baron’s View, Bowtie, Brackenridge, Cutty Shark, Goose Valley, Keurboomstrand, Lower Central, Lower Robberg, Piesang Valley, Plettenberg Bay, Poortjies, River Club, Robberg Ridge, Schoongezicht, Sea Side Longships, Signal Hill, The Crags, Upper Central, Upper Robberg, Whale Rock, Bitou Nu, Wittedrift.
  • 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.
  • All information sourced from Lightstone

Author: Helen Ward

Submitted 26 Apr 17 / Views 2690