Broad demand for Newlands property

The suburb of Newlands in Cape Town’s Southern Suburbs continues to attract broad demand from a variety of buyers. 

This six-bedroomed home occupies an unusually large plot of 1880sqm, in a prime position in Fernwood, Newlands. The property has subdivision and dual living potential, but is also ideal for an extended family or those who entertain frequently

The area’s central location with easy access to the city, airport, beaches and amenities, as well as its proximity to the Claremont business and shopping hub, are among its key appealing features. Another strong driver of demand is the educational environment, with the suburb being well-placed for access to several leading schools as well as the University of Cape Town. The beautiful natural environment, including large trees, Kirstenbosch Botanical Gardens and Newlands Forest, rounds off the picture of an ideal environment for a growing family, student or executive.

Pam Golding Properties (PGP) reports that nearly 100 residential sales have already been registered in the suburb in 2013, at an average price of around R4 million for (source = Propstats; full title and sectional titles sales across all agencies). PGP concluded 17 of these deals, to a total value of well over R70 million, and at an average price of R5.1 million. PGP’s sales included several top-end properties, two of which sold for R9 million or more. 

A deep undercover patio overlooks the garden, which has a large swimming pool and a river running through it. The home has excellent security, double staff accommodation and mountain views. It is on the market exclusively through Pam Golding Properties, priced at R8.49 million.

Agents Heather Turner and Vickie Francis say demand emanates from a number of sectors, including those seeking spacious homes and gardens for family use, as well as parents and investors buying residential properties to let. “Townhouses have also proved popular,” say the agents, “as well as vacant land and older homes that can be extensively renovated and modernised. The most popular price range at present is homes priced between R3.5 million and R4.5 million, and homes in this bracket are moving fast – for example, in May (2013) we sold a three-bedroomed home in King Street at the full asking price of R4.5 million, on the very first day of listing, while another property in Moss Street was sold within three days of listing, at 94 percent of the asking price (sold for R3.9 million). As a result of the high number of sales and strong demand, we are currently experiencing a general shortage of stock in the Newlands area. There are definitely more buyers than sellers in this area at present.

Also located in Hiddingh, this five bedroomed double-storey home occupies an erf of just over 800sqm. Open plan living areas flow out to an under-cover patio overlooking the garden and pool. The property is on the market through Pam Golding Properties, priced at R7.2 million.

Entry level pricing in Newlands currently stands at around R2.5 million for a small lock-up-and-go home, while a mid-level family home costs around R4.5 million. Top end luxury properties, particularly those located in small secure estates, can fetch R8 million and more.

This character-filled home in the heart of Hiddingh, Newlands is on the market exclusively through Pam Golding Properties, priced at R.4 5 million. Occupying an erf of 901sqm, the home has four bedrooms, a farm-style eat-in kitchen, pool and double garage.

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