Llandudno sales and prices increase by 50 percent

Although it is the smallest suburb of the Atlantic seaboard with just 323 freehold properties, Llandudno property sales and prices have surged by 50 percent over the last year as buyers seek out homes along this Blue Chip coastal belt, says James Lewis, Seeff’s managing director for the area.

At over R13.8 million based on the latest transfer data recorded by Lightstone, the average sales price for the suburb is also already almost R2.4m more than last year’s average of R11.46m.

Lewis says that Llandudno has become one of the most sought-after coastal suburbs in the country, outranked in value now only by Clifton with its average house price of around R17.5m according to the latest Lightstone figures.

The data also shows that since the start of last year, 36 properties worth almost R442m were sold in the suburb. Last year’s 24 sales is also 50 percent more than that of the previous year.

In addition, several luxury properties were sold over the last year at prices of up to R22m in Leeukoppie Road, R30m in Apostle Road and as much as R40m in Steenway Road, all to local residential buyers.

“Five years ago, you could still find plenty to buy in the suburb at under R10m, but this is changing fast as the popularity of the suburb increases,” says agent, Stephan Cross.

“In fact, less than one third of all sales since early last year fall below this price level. It is also mostly younger buyers who have boosted activity and the dynamics of the suburb is changing fast. Where it used to attract older buyers, often retired people, it is now younger buyers, especially families and professionals who are settling here. Up to 75 percent of buyers are now in this demographic,” says Lewis.

“It is particularly attracting wealthy entrepreneurs, but is also popular with foreign buyers and for exclusive holiday homes for wealthy captains of industry from inland areas. A draw card for family buyers especially are the bigger plots that tend to range from around 990m² to 1 300m² on average, compared to other Atlantic seaboard suburbs for example that are much smaller,” says Cross.

Although older houses can still sell for around R9m to R13m, house prices are now generally higher – up about R44m for an architect-designed house high up in the suburb with spectacular views.

One 640m² house on a 1 000m² plot has a glass lift serving all six floors, and balconies and terraces with either mountain or sea views. There are four bedrooms as well as a separate apartment, several living rooms, garaging for four cars, wood-burning fireplaces, under-floor heating and air-conditioning, a sauna, a Jacuzzi, an infinity pool and an outdoor shower. The price is R44m.

“Llandudno has only one access road, no traffic or shops, height restrictions and no high-rise apartment blocks. There is also no room for expansion so number of properties on offer is very limited,” says Cross.

Sought-after streets for the best views include Fishermans Bend, Leeukoppie Road, Bosman Avenue and Apostle Road. Lower down, Sunset Avenue closer to the beach is another favourite where property prices can reach R50m for a luxury beach house.

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