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RE/MAX Suburb Trend Report – Table View

Area history

Just 15 minutes along the Cape Western Seaboard, north of Cape Town’s city centre is the suburb of Table View. Named after its view of the Table Mountain, the suburb has become immensely popular among young families and is a lively growing community. The area has seen rapid expansion since the 1970s and now has several extensions such as Sunningdale, Big Bay, Parklands, West Beach, Flamingo Vlei


?6 Bedroom House for sale in Table View

Table View’s beachfront is lined with a number of apartment buildings, along with numerous restaurants, pubs and entertainment venues. Aside from the views of Table Mountain and excellent schools and amenities, buyers are also attracted to the area because of the various outdoor activities on offer.  The beach is popular among residents who enjoy surfing, swimming and the world-class windsurfing and kite-surfing conditions. The Rietvlei lagoon is perfect for water skiing or sailing and the local racing circuit at Killarney is featured on the national racing map.

There is a large spread of properties in Table View, ranging from affordable, entry-level apartments to townhouses and cluster developments to up-market homes. Aside from the immense residential development in the suburb, there is also a large business and commercial hub providing an outstanding infrastructure.

Table View is also one of the areas where the first phase of the new Rapid Bus Transport System was implemented. The Rapid Bus lanes are a first in South Africa and provide an affordable and convenient way of travelling through the area. 
 
Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that while the number of sales in Table View dropped from 2004 to 2009, the amount of sales concluded is still much higher than those seen in other suburbs across the country.

According to Lightstone, property in Table View consists of 53.80% sectional title units, 39.67% freestanding homes and 6.53% estates. Goslett says that from 2004 to 2008 prices in Table View saw a rapid increase with the average price of a freestanding home hitting a record of R1.354 million and a sectional title unit costing around R808 000. Prices dropped in 2009; however they have seen a much slower, but steady increase since. Currently the average price of a freestanding home is around R1.222 million, while a sectional title unit is in the region of R840 000.

Goslett says that while there have been buyers from all different age groups contributing to recent buying activity, buyers between the ages of 36 and 49 years old have been the driving force. This demographic accounted for 40.04% of recent buyers in the area, as well as 36.62% of recent sellers and 35.32% of current homeowners. He notes that consumers aged between 50 and 64 years old represented 29.15% of recent buyers, while those aged between 18 and 35 years old accounted for 22.88%.

Property price trends





Demand for property

Goslett says that approximately 35.4% homes sold in Table View between July 2012 and June 2013 were those priced between R800 000 and R1.5 million. Properties that fell within the R400 000 to R800 000 category represented 30.6% of the area’s sales, while properties between R1.5 million and R3 million represented 18.1%. He notes that properties sold during this period for less than R400 000 represented 14.7% of the market, while those priced above R3 million accounted for only 1.2% of the market.


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