A look back at the 1st Three Quarters Property Sales for 2019 in Plettenberg Bay
Category Property News
With 2019 now a fast disappearing speck in the rearview mirror, and 2020 in full swing, we take a quick look at 2019's property sales for the first three quarters.
Taking a broad overview, last year's ¾ figures were down by 14% compared to the same period in 2018 (368 properties sold in 2019 compared to 430 in 2018).
Highlights and lowlights
Keurboomstrand retained the top spot with 79 sales for 2019, of which 61% (48 properties) were below R2M. 13 Properties sold in the R3M - R4M price bracket, nine of them at The Plett Manor.
Seaside Longships ranked 2nd (4th in 2018) with 32 sales (39 in 2018).
Note: The Plettenberg Manor, a new retirement village accounted for 18 sales in Keurboomstrand.
Whale Rock showed a decrease in sales of 41%, 30 sales in 2019 compared to 51 the previous year. Bitou Nu, on the other hand, showed a 20% increase in sales (24-20).
Brackenridge remained in 5th place despite a drop in property sales of 26%, and Goose Valley showed a slight increase of 5% with 19 properties sold in 2018 compared with 20 in 2019.
In June 2019, the demarcation of suburbs in Plettenberg Bay was changed by Lightstone. The suburb of Plettenberg Bay has been amalgamated into the suburbs of Cutty Sark and Bowtie, which accounts for the increase in sales in these suburbs.
Property sales by price
With 2019 a property year best forgotten for many, only two price brackets showed an increase in volume of sales. The first is the R5 - 7M bracket which increased by 47%, (22 vs 15) and sales in the R3 - 4M bracket which saw an increase of 28%. (37 sales in 2019 compared to 29 in 2018).
90% of the properties sold in Plettenberg Bay in 2019 went for less than R5M, which is identical to 2018.
Sectional title sales in Plettenberg Bay
Last year's first three quarters saw 130 sectional title units sold compared to 178 in 2018 for the same period, marking a decrease of 27%. Freehold properties accounted for 238 sales in the same period compared to 252 in 2018, a decrease of 6%.
28 sales occurred in the R5 - R10m bracket in 2019, one more than the previous year. Four properties sold for more than R15 Million in 2019, two on Beachy Head for R18 Million and R24 Million respectively. There was one sale on SwiftSure Road in Lower Central for R23.1M and two sales in Ebenezer, one for R26M and one for R12,9M.
In the meantime, if you are looking to buy or sell property in the region or just want to chat about the market in general, you know where to find us.
Yours in Property
Suburbs under review in the 2018/2019 comparison
- Barons view
- Cutty Sark
- Goose Valley
- Lower Central
- Lower Robberg
- Plettenberg Bay
- Piesang Valley
- River Club
- Robberg Ridge
- Seaside Longships
- Signal Hill
- The Crags
- The Hill
- Upper Central
- Upper Robberg
- Whale Rock
- Bitou Nu & Knysna Road
Life right, Share block and Fractional sales are not included in this review.
Author: Helen Ward