Melkbosstrand ‘village atmosphere’ popular with buyers

Melkbosstrand is away from the city crowds but close enough to commute, and the sense of village community attracts far more buyers than the small number of available properties that go up for sale every year, says Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty.

Atlantic Sunsets 4

He says one of the reasons for this is that properties on offer in Melkbosstrand vary in size to accommodate a broad community – from large family houses to ideal starter homes in the form of smaller apartments.

Between January 2012 and the beginning of June 2015, the Western Cape Estate Agents property aggregation site Propstats shows that fewer than 50 homes – a mixture of houses and apartments – were sold in the suburb proper, excluding the exclusive neighbouring Atlantic Beach Golf Estate.

Those sales fetched the owners a total of nearly R90 million, with an average unit price of nearly R2.2m over the three-and-a-half-year period.

“Only 12 properties were sold in Melkbosstrand last year and there is a severe shortage of sale stock in the area,” says Lew Geffen Sotheby’s International Realty agent Lydia Johnstone.

“In the past year some properties have also been quite substantially overpriced, leading to eventual sale prices of more than 10 percent below the listing prices and long periods of dormant sales stock, which is not good for a local market.”

Johnstone says properties that are priced correctly will generally sell fairly quickly, which is why it’s so important – when sellers are considering putting their homes on the market – to ensure that they get an accurate valuation from an experienced agent.

Geffen says last year in the suburb properties worth nearly R25m changed hands, at an average sale price of R2.27m and about 12 percent below the listing prices across the board.

According to Propstats, just 10 homes have been sold between January and June 1 2015, with a total value of R12.645m and an average sale price of R1.264m.

“The lower average price can be ascribed to the fact that seven out of the 10 sales so far this year have been apartments, which are very reasonably priced in the Melkbosstrand area,” says Johnstone.

“You can easily pick up a two-bedroom apartment for around R500 000, which is a wonderful starter-home for a young family, especially since Melkbosstrand still retains the feeling of a village rather than a city.”

Lew Geffen Sotheby’s International Realty Atlantic seaboard chief executive, Brendan Miller, who has this year taken over the hands-on management of the Western Seaboard franchise with Geffen, says demand for property in Melkbosstrand has increased considerably since the MyCiTi rapid bus transit system was introduced to the area.

“Melkbosstrand is the first ‘village’ you encounter on the drive north on the R27 West Coast road from Cape Town and is nearly 30km from the CBD, which has in the past been daunting to some commuters who want the lifestyle, but not the traffic,” says Miller.

“Now the buses make the commute that much faster and more convenient, leaving time while travelling to catch up on work, reading or whatever takes your fancy.”

Miller says many homes in Melkbosstrand have beautiful sea views, which add to the appeal of the area along with the perks of large entertainment areas, pools and double garages.

“For family buyers it’s all about the lifestyle. Melkbosstrand is a close-knit community which takes great pride in the area’s neatness and security.”

Geffen says: “A decade ago Melkbosstrand might have been considered a remote area by some, but in the past few years this has changed and it’s now seen as part of greater Cape Town, which has led to a steady improvement in services and entertainment facilities.”

Melkbosstrand also has its own primary and high school, as well as a private school.

Along with beachfront activities, the area holds great appeal for lovers of the outdoors with the neighbouring Koeberg Nature Reserve offering ample hiking and cycling trails, and the quaint fishing towns of the West Coast within easy reach for holidays and weekend getaways.

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