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Over R100 million sold in seven months

The leafy Cape Town suburb of Newlands is continuing to see regular sales and even some price growth, despite prevailing market conditions. Pam Golding Properties reports that its agents in the suburb, Vickie Francis and Heather Turner, have sold over R100 million in residential property in 2011. Prices are remaining stable, and in the case of the sought-after Fernwood section of the suburb, have even risen quite substantially.

PGP’s area manager for the Southern Suburbs, Howard Markham, says the upmarket suburb is always in demand due to its lush surroundings, beautiful mountain views and excellent schools.  “Newlands is home to many large homes with substantial gardens, ideal for raising a family close to top schools and sporting facilities such as Newlands cricket and rugby grounds,” he says. “Proximity to Kirstenbosch Botanical Gardens, the Liesbeek River and Newlands Forest is an added bonus for those who enjoy an active outdoor lifestyle.  

The suburb’s residential make-up is dominated by families, although young professionals and retirees are often drawn to the smaller homes on offer in Newlands Village. In fact, the variety of properties available in the suburb makes it possible for residents to never have to leave – they can simply relocate within Newlands as their lifestyle needs change. As a result, many of our buyers are existing Newlands residents looking to scale up or scale down as their family dynamics change.  It is not surprising that people don’t want to leave this suburb, with its tranquil streets, large trees, mountain views and conveniently central location.”

Newlands is one of the oldest suburbs in South Africa, having been established in the early 1700’s as a fruit and vegetable farming settlement to supply the Dutch East India Company Today, it has several active Residents’ Associations which drives the community spirit and helps preserve a clean, safe environment.

Newlands Village

Markham says sales in Newlands Village have been steady throughout the year. “The Village is extremely popular for its cosmopolitan café lifestyle,” he says, “with superb restaurants, coffee shops and delis within walking distance, as well as a number of designer boutiques. Properties in this section range from quaint small cottages to luxurious top-end homes on large erven.” Sales this year have included a R2 million purchase of a one-bedroomed cottage in the Village, as well as R3.415 million for a two-bedroomed cottage. PGP has also sold two very top-end family homes in the area, for R9.8 million and R11 million.

Hiddingh
Adjacent to the Village, Hiddingh includes many well-priced larger homes, and is particularly popular with family buyers.  Sales this year have included R6.05 million for a newly-built three-bedroomed home.

Fernwood

Fernwood, located on the very edges of the Table Mountain National Park, is among the most sought-after sections of Newlands, and prices here have been climbing steadily despite the prevailing economic climate. Amongst PGP’s most notable recent sales in this area was that of a large newly-built four-bedroomed home in a boutique security estate, sold for R11.5 million.  This sale was the highest concluded by PGP in Newlands this year. Other PGP sales in Fernwood included a three-bedroom home with a flatlet for R3.85 million, and another three-bedroomed home sold for R4.2 million.

PGP’s MD for the Western Cape Metro region, Laurie Wener, notes that a number of buyers in Newlands this year have been relocating to Cape Town from KwaZulu-Natal and Gauteng, or returning to South Africa after living abroad. “This emphasises how popular the suburb is,” she says. “Many buyers come straight to Newlands as their main or even only area of choice, when deciding to relocate. Its reputation for traditional, solidly-built homes, excellent schooling and lovely views certainly precedes it.”

Among the properties currently for sale in Newlands exclusively through PGP is a beautifully renovated modern family home in Fernwood, priced at R5.4 million. Located in a quiet cul de sac, the property has excellent flow from its reception rooms into a private mountain-facing garden with a swimming pool. The property has three bedrooms and two bathrooms, with top-quality finishes including wooden floors and a Caesarstone kitchen. Security features include an alarm system, electric perimeter fencing and electronic beams.


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