SHOWING ARTICLE 5 OF 45

First First Quarter Sales 2018: Review

Category Property Sales in Plettenberg Bay

“Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.” Helen Keller

In our previous newsletter we spoke about the new-found confidence in South Africa following Zuma’s fall and the entrance of Cyril Ramaphosa. While this is all true, confidence is not something that changes overnight, especially in the economic sector and especially for a country that’s being suffering a crisis in recent years. Technically we are still reeling from the Gupta/state capture saga and real confidence will take time to find its way to our economic indicators.

Before we look at the first quarter property sales in Plettenberg and surrounds, it’s important to note that December was quieter than usual at the end of 2017 with the usual December 16th rush of holiday makers not really happening until a week later. Add to that the rand hitting its lowest mark since December 2017 and it’s probably not surprising that the first quarter figures are down by volume for the first time since 2014.

It’s on that note that we present the highlights and lowlights of the first quarter property sales in Plettenberg Bay and surrounding suburbs.

Sales by Volume

Sales by volume have dropped 27.9% from 197 properties in 2017 to 142 in 2018.

POSTION 2018

SUBURB

2018

2017

Position 2017

1

Keurboomstrand

28

25

2

2

Plettenberg Bay

22

20

3

3

Seaside Longships

11

19

4

3

Whale Rock

11

36

1

5

Lower Robberg

9

12

6

Sales by Value

  • Sales in the R2-3m bracket  - up by 50%;
  • Sales in the R4-5m sector – up by 200%.

* These are the only price brackets where sales have increased
 

  • 82.3% Of all sales in the first quarter of 2018 were below R3m;
  • The biggest drop in sales is the R0-R1m bracket, mostly due to a lack of stock. There is currently a shortage of properties for sale in Plettenberg Bay below the R2m mark as opposed to outlying areas;
  • For the first time since 2014 sales in the suburb of Lower Robberg are in the top five selling suburbs;
  • Even though Whale Rock is in the top five in 2018, it also has had the biggest drop in sales -  69,4%.

R0-R1M

R1M-R2M

R2M-R3M

R3M-R4M

R4M-R5M

R5M-R7M

R7M-R10M

R10M-R15M

+R15M

2017

85

65

18

10

1

6

5

3

4

2018

43

47

27

8

3

4

5

2

3

% difference

-49.4%

-27.7%

+50%

-20%

+200%

-33.3%

Flat

-33.3%

-25%


Sales by volume exceeding R4m by suburb: comparison 2017 v 2018

SUBURB

2018

Position 2018

2017

Position 2017

Keurboomstrand

4

1

1

4

Seaside Longships

3

2

3

2

Brackenridge

2

3

4

1

Lower Central

2

3

3

2

Bitou Nu

2

3

3

2

Poortjies

1

5

0

-

Upper Central

1

5

0

-

Whale Rock

1

5

4

1

Signal Hill

1

5

0

-

What this does show is a clear drive towards Keurboomstrand in the above R4m category.

All transfers referred to took place between 1 January and 31 March 2018

Stats as always make interesting reading but don’t always tell the true story. If you want to know more about the local property market, whether you are buying or selling, contact us today or pop in for a chat.

Yours in Property
Helen Ward (Principal, Helen Melon Properties)
www.helenmelonproperties.co.za

Author: Helen Ward

Submitted 09 Jul 18 / Views 333

Plettenberg Bay, Western Cape

Plettenberg Bay, fondly known as Plett (or Plet) by locals, sits on the Garden Route in South Africa’s Western Cape. It lies about 500km east of Cape Town and about 240 km west of Port Elizabeth. Plett is one of SA’s premier holiday... More Info