select
|

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.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK