select
|

Strandfontein is one of the most stable housing precincts in the Cape

Strandfontein, the 6,500 home precinct sited on the False Bay coastline between Mitchell’s Plain and Muizenberg East, has, says Theo Rainers, the Rawson Property Group’s franchisee for the area, always been seen as a more upmarket residential area to which many of the upwardly mobile residents of Mitchell’s Plain aspire to move.


?3 Bedroom House for sale in Strandfontein, Cape Town

“It is definitely viewed as a step-up on the social scale and this is reflected in its slightly higher prices, the size of its homes, the quality of the designs and the size of the plots on which they stand. However, as we are still in a near-recessionary phase, today’s market is slanted in favour of the buyer – a fact some sellers still find difficult to accept,” says Rainers.

Back in 2007, before the global financial crash, Rainers and his team were selling at least twice as many homes per month and he was ranked seventh in the Rawson Property Group’s national earnings competition.

Today, he says, buyers are still thick on the ground, but 50 to 60% are likely to be rejected for home loans by the banks on account of poor credit records and/or too high debt levels of one kind or another – despite the combined earnings of a husband and wife often being very satisfactory.

Today, says Rainers, the majority of his sales are taking place in the R400,000 to R800,000 bracket. Most of the homes sold have three or four bedrooms, of which a few are double storey. On occasions, he says, he can offer a home for sale in Strandfontein for less than R400 000, but this happens only rarely. In some areas, such as Pelican Heights the homes are often valued at over R1 million.

In general, says Rainers, because it is a buyers’ market, most of the buyers are in no hurry to make a decision and before they come to his office, over 50% will have done research on the internet. 

Talking generally, says Rainers, the value for money in Strandfontein is exceptionally good.

“We have three or four bedroom homes in some of the more upmarket areas of Strandfontein, such as Old Strandfontein, that are still priced at around R650,000. Up the line, in some of the suburbs closer to Cape Town, this sort of home would often be priced at double that. I personally sold a property in Seagull Road, Pelican Heights this year for a record price of R1,7 million within one month of receiving the mandate.”

Due to relatively few people being able to buy and/or to qualify for bonds, the rental market in Strandfontein, says Rainers, is flourishing. His franchise manages a portfolio of over 60 residential properties and is adding to them month-by-month. On many of these, he says, the returns are 2 or 3% higher than those of properties closer to the city. He can often get an 8 or 9% return from day one on less expensive units and, he assures potential clients, “like all good agents we are meticulous about checking credit and previous rental records”.

Some idea of the value obtainable in Strandfontein these days can be gained from the following properties currently being marketed by Theo Rainers’ team:

- A four bedroom, single storey home in Frigate Road. Priced at R695,000, this home has a separate lounge/dining area, a fully fitted kitchen and a lock-up garage.
- A three bedroom home in Clipper Road situated on a 407 m2 erf at R650,000. 


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK