RE/MAX Suburb Trend Report – Milnerton, Western Cape

Area history

Located along the Atlantic Ocean approximately 11km north from Cape Town’s city centre is the Western Cape suburb of Milnerton. Established in 1897 and named after Lord Alfred Milner, the High Commissioner for South Africa at the time, the suburb had a rather slow start in its early years. However, Milnerton began to grow at a far steadier rate after the arrival of the railway during the early part of the 20th century and today is considered to be one of the fastest developing areas in the province.

The oldest suburb along the northern Table Bay area, Milnerton is known for its lagoon, links golf course and spectacular views of Table Mountain from across the bay. Proximity to the ocean and the lagoon, make the area an ideal spot for water sport enthusiasts. Daily patrols of the Milnerton beach by local council staff ensure that the beach is kept clean at all times, making it a popular spot for walkers and surfers alike.

On the market for R5.8 million, this home offers four bedrooms, four bathrooms, study, laundry, staff accommodation, a double garage as well as a double covered carport and an upstairs TV/family room with balcony overlooking the sea. Situated on a 968m2 stand with 504m2 under roof, it also features a stunning entertainment area and games room with indoor braai and fireplace leading out to a large swimming pool. Other extras include under-floor heating, solar heating for geyser, well-point and full Irrigation.

Another popular attraction in the area is the Milnerton Lighthouse, which is a 21m high cylindrical tower painted white. The lighthouse was completed in March 1960 and boasts a revolving electric optic producing over 800 000 candela. The lighthouse was built due to the fact that the coastline from Green Point to Milnerton has wrecked over 150 ships - more than any other coastline in South Africa.

Milnerton has an active commercial centre which serves the area well. The area also boasts a wide variety of entertainment facilities, which has led to its booming residential areas along the coastline.

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that Milnerton’s properties and proximity to many of Cape Town’s hotspots has resulted in the area attracting a lot of property buyers over the years. He notes that between 2004 and 2008 an average of 136 properties were sold each year in Milnerton, which is relatively high when compared to other suburbs around the country. The sales decreased to around 73 in 2009; however as the overall property market once again improved, so did the sales numbers in Milnerton. In 2012 around 122 properties were sold, which is close to the numbers seen during the boom.

Goslett notes that consumers aged between 36 and 49 years old represent the highest percentage (34.69%) of recent buyers in Milnerton, while those aged between 18 and 35 years old are close on their heels accounting for 28.3% of recent buying activity. He says that the 36 to 49 year old age category also represent the highest percentage (34.69%) of recent sellers, however it is consumers aged between 50 and 64 years old that represent the largest number of current homeowners in the area.

According to Lightstone property in Milnerton consists of 56.29% freestanding homes and 43.71% sectional title units. Goslett says that from 2004 to 2006 property prices in the area saw dramatic increases each year, stabilising between 2006 and 2008. In 2009, prices saw a very slight dip, only to recover and improve from 2010 until this year. Currently the average price of a freestanding home is around R1.948 million, while a sectional title unit costs approximately R657 000.

Property price trends

Demand for property

According to Goslett the highest percentage of homes sold in the area between August 2012 and July 2013 were those priced between R1.5 million and R3 million, which accounted for 40.4% of all properties sold in Milnerton during that period. Properties that fell within the R400 000 to R800 000 category represented 39.7% of the area’s sales, while properties between R800 000 and R1.5 million represented 19.1%. He notes that no properties were sold during this period for less than R400 000, and only 0.7% of properties were sold for more than R3 million in this time frame.

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