Area Trend Report – Simon’s Town

Area history

Steeped in nautical history, the coastal village of Simon’s Town is home to the South African Navy and life size bronze statue of legendary Great Dane, Able Seaman in the Royal Navy, Just Nuisance. Located approximately 40 km from Cape Town’s city centre on the eastern side of the Cape Peninsula on the False Bay shores, Simon’s Town is the last stop on the Southern Railway Line. Named after Simon van der Stel, an early governor of the Cape Colony, some of the country’s oldest buildings can be found in the town such as the Church of St Francis.

4 Bedroom House for sale in Simon's Town

Aside from the area’s rich history and seaside views, another draw card is its beaches. Just a few kilometres south of the town is Boulders Beach, which has been home to an African Penguin colony since 1985. This is one of only three penguin colonies on the mainland of southern Africa, with the other two at Stoney Point and Betty’s Bay respectively.

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that property in Simon’s Town has been particularly popular among the more mature buyer, with 49.48% of recent buyers aged between 50 and 64 years old. He notes that a large percentage of the homeowners in the area are over the age of 50 years old, with 40.49% between 50 and 64 years old and 41.16% aged 65 years of age or older. Nearly half of the recent sellers in the area were also 65 years of age and older.

Historic 2 Bedroom House for sale in Simon's Town

Goslett says that according to Lightstone data, property in Simon’s Town consist mostly of freehold properties (74.28%), with sectional title units (24.69%) and a small percentage of estate properties making up the balance. He notes that sales volumes in the area took an expected drop after the height of the property boom in 2007. However, demand for property in Simon’s Town has continued to be fairly strong. Since 2009 the number of property sales transactions in the area has seen a gradual but steady upward trend.

According to Goslett, property prices saw massive growth between 2004 and 2006, however they flattened out slightly in 2007 seeing only marginal growth until 2010. In 2011 the average price of a freehold home jumped to R2.336 million from the R1.944 million seen the previous year. Although the price dipped in 2012, it recovered and reached a new record high of R2.512 million during 2013.

Property price trends

Demand for property

Goslett says that around 37.2% of properties sold in Simon’s Town between February 2013 and January 2014 were those priced between R1.5 million and R3 million, while 29.5% were priced between R800 000 and R1.5 million. He notes that 20.5% of properties sold during this period were priced above the R3 million mark, while around 12.8% were priced between R400 000 and R800 000.

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