RE/MAX Suburb Trend Report – Constantia

Area history

Predominantly farmland and vineyards, the affluent suburb of Constantia is one of the oldest areas in Cape Town. Home to the Groot Constantia estate which was established in 1684 by Simon van der Stel, Dutch Colonial Governor of Cape Town, the area is also one of the greenest, leafiest parts of Cape Town. Other notable wine estates in the area include Steenberg, established in 1682 making it the oldest wine estate, Buitenverwachting, Klein Constantia and Constantia Uitsig. Before the turn of the twentieth century, the area was renowned for its exports of Vin De Constance dessert wine; however trade ceased after the vines were attacked by a parasite.

5 Bedroom House for sale in Constantia, Cape Town

Constantia remained a rural area from the middle of the 1800s up until 1960. Although just 20 minutes away from the Cape Town CBD, Constantia has still maintained it’s out-of-town, rural feel. The area is peppered with green belts and country lanes, with the sight of a horse a regular occurrence.  The area is within proximity to Kirstenbosch Botanical Garden and the beaches of False Bay are only a short drive away.

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that currently half of the buyers who have recently purchased property in Constantia are between the ages of 36 and 49 years old. He notes that the remaining buyers consist of those who are between 50 and 64 years old (21.43%), as well as buyer who are over the age of 65 years old (28.57%).  Goslett says that on the other end of the property transaction, 50% of recent sellers in Constantia are over the age of 65 years old, even though this demographic does not represent the greatest percentage of homeowners in the area. The highest percentage of current homeowners in the area is consumers who are between the ages of 50 and 64 years old.

Lightstone data reveals that property in Constantia consists of 92.97% freestanding homes and 7.03% estates. Goslett says that property prices in the area experienced exponential growth between 2004 and 2008, peaking in 2008 with an average home costing around R10.651 million. Prices dipped in 2009, easing off further in 2010. However, Goslett notes that in 2011 prices gained some momentum and have experienced marginal but relatively steady growth. 

Property price trends

Demand for property

According to Goslett sales transactions in the area peaked in 2006, with sales figures dipping the following year. Sales volumes continued to see a downward year-on-year trend until 2009. He notes that in 2010 sales figures improved greatly, however since then property sales have been fairly unpredictable from one year to the next.

Goslett says that all of the homes in area which sold between August 2013 and July 2014 were priced over the R3 million mark.

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