Upsurge in sales in Hermanus

An increasing demand for homes in the coastal town of Hermanus in the Western Cape Overberg region is driving rising sales across all price bands, says Annien Borg, MD for Pam Golding Properties in the Boland and Overberg.

Located in highly sought after Voëlklip in Hermanus, just a stone’s throw from Grotto beach, this four bedroom, three bathroom home is ultra modern and luxurious throughout, with exceptionally scenic views, large garden, sparkling pool and deck. The property includes a study with balcony staff quarters and double garage and is marketed by Pam Golding Properties at R8.6 million.

“Over the three month period from July to September 2015 we concluded sales to the total value of over R61 million, which is treble the previous three months (April to June) in value and 140 percent higher in units. This increased activity in the market has continued in October with R27 million in sales transactions, a trend which is expected to prevail as our busiest season is from spring through to summer and until after Easter.

“Such is the demand that earlier this year a seafront home in a prime location in Kwaaiwater was purchased for R18 million in order to be demolished, while more recently we have sold seafront properties in the suburb of Westcliff which were acquired for R5.5 million, R6.4 million and R10.6 million respectively.

“Westcliff is set in the oldest part of Hermanus, close to the new harbour which is to be upgraded in a recently announced R23.5 million investment project. In proximity to the centre of town and enjoying some of the most scenic ocean views - particularly during sunrise and sunset, this is a very sunny area which still offers exceptional value for money. As a result – and together with the scarcity of seaview property in other areas – we believe Westcliff is an up and coming location.”

Centrally well positioned in Eastcliff, close to Hermanus town centre and schools, this three bedroom, two bathroom home has beautiful views, open plan living areas flowing to the garden and pool, private courtyard, study, staff quarters and laundry area, and is marketed by Pam Golding Properties at R5.5 million.

Known as Wendy Cottage, the property which sold for R10.6 million is a small heritage house on a plot with sufficient room to build an additional, separate house, close to the cliff edge. The purchaser is a local resident who owns a farm in the Hemel-en-Aarde Valley and plans to build an upmarket home in the future.  Having been on the market for six years, this property has set a new benchmark for the Westcliff area. According to Lightstone statistics, the previous highest price achieved in the area was R10.57 million in 2014.

Renowned for its whale watching, Hermanus has become a primary residential destination for many home buyers, and Pam Golding Properties reports that at least 70 percent of buyers are relocating to the area permanently.

“This used to be a holiday village because of family traditions and the beautiful beaches, however the proximity to Cape Town, only 120km away and good infrastructure including good schools, a hospital and shopping centres as well as easy access to Stellenbosch University, makes it a very obvious choice for people from around South Africa. Hermanus has an appealing laid-back atmosphere, beautiful wine farms and restaurants, making for a complete lifestyle package. It is also a thriving commercial hub, with many self-employed owners.

Aerial view of Wendy Cottage which recently sold for R10.6 million through Pam Golding Properties.

“Most of our buyers emanate from the Western Cape, KwaZulu-Natal and Gauteng. Johannesburg buyers are increasingly evident, currently representing about a third of concluded sales. The Curro private school has definitely attracted a growing number of families from all over, who then either start or buy a business here or commute to Cape Town as required. Western Cape purchasers mostly acquire upmarket homes for leisure use throughout the year, while many upcountry buyers purchase them for holiday homes or for retirement while still in their very active years.”

According to Lightstone statistics, 37 percent of recent buyers (from October 2014 to September 2015) are between 36 and 49 years of age and 32 percent from 50 to 64 years.

Borg says apart from seafront property or homes with good sea views – as in the  high-demand area of Eastcliff, golf estate property is highly sought after, such as in Fernkloof Golf Estate. Pam Golding Properties recently sold a Fernkloof Golf Estate property in Lakewood Village for just over R10.5 million, which is the highest price yet obtained in the golf estate.

“Generally the price band from R3 million to R6 million is most popular, while a quarter of our sales are above the R6 million mark and a third below R3 million. Being an affluent area, a large amount of purchasers are cash buyers. The bulk of our transactions are for large four bedroom (all en suite) homes which can accommodate visiting family members during holidays. There are very few vacant stands available in Hermanus and even fewer sectional title homes.”

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