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Plettenberg Bay Property Sales: 2016

Category Property Sales in Plettenberg Bay

Although we are well into the first quarter of 2017, its always a good time to look back at last year’s figures, and it makes for very encouraging reading. We’ll look at sales for the first nine months of 2016 compared to the same period in 2015. We’ll break it down for you, but before we do, just know that sales were up by 24.29 percent in this period in 2016 compared to the same period in 2015.

Here are the highlights:

  • The most significant change in sales was in the R5-7M bracket where in the first three quarters of 2016, 20 properties were sold, compared to eight the previous year.
  • The R4-5M bracket increased from nine to 22 sales (144%)
  • Sales above R15 increased from three in 2015 to five in 2016
  • Standing out as the sore loser is the R7-10M bracket which saw sales drop from eight to five, a 38% decrease.

The suburbs

When we break down the sales per suburb, Plettenberg Bay leads the way with 55 sales in the first nine months of 2016 (46 in 2015), followed by Keurbooms with 53 (31 in 2015), and Seaside Longships 52 (46 in 2015).

Of interest

  • Bowtie sales were up by 340% - five sold in the first nine months of 2015 compared to 22 in 2016. Nine Properties sold for more than R3m in 2016 compared to 1 in 2015.
  • Signal Hill sales were up by 225% in 2016 (13 properties) compared to 2015 (4 properties).
  • Poortjies sales were up by 114% in 2016 (15 properties) compared to 2015 (7 properties).
     

The price brackets

  • The most impressive increase was in the R5-7m price bracket. Three properties sold in Bowtie, three in Bitou Nu and five in Whale Rock.
  • Out of the 22 properties sold in the R4-5m price bracket in the first three quarters of 2016, four sold in Poortjies and three in Seaside Longships
  • The R3-4m price bracket saw an increase of 84% in the first three quarters of 2016 compared to 2015. Nine sold in Seaside Longships and four in Lower Robberg.
  • In 2015 there were no sales in Lower Robberg above R3m, whereas in 2016 there were four in the R3-4m price bracket and one in R4-5m.

Bowtie causing an upmarket stir

  • Bowtie is one of Plett’s smaller suburbs tucked in between Poortjies, Plettenberg Bay and Upper Central.
  • During the first nine months of 2016, sales in Bowtie were up by approximately 340% compared to the same period in 2015.
  • Located on the Lookout side of Plettenberg Bay, most properties in Bowtie are north facing and enjoy majestic views of the lagoon, mountain and ocean, stretching from Lookout Beach as far as Keurbooms.
  • Bowtie offers a large variety of properties ranging from modest, entry level homes to some of Plettenberg Bay’s most exclusive and sought after properties.

Says Helen Ward, director of Helen Melon Properties, “Last year was a great year for the region in terms of property sales and values. By all accounts, we don’t foresee this growth slowing down any time soon. The encouraging element of this increase is that many people are relocating to the Western Cape and buying homes as their main residence.”

Note:

  • Suburbs used in this comparison were Bowtie, Brackenridge, Cutty Shark, 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.
    • All information sourced from Lightstone

Author: Helen Ward

Submitted 01 Mar 17 / Views 2695