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How Cape Town’s different areas have fared

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2018/2019 Suburb analysis

Atlantic Seaboard 

Greenpoint

Median price: Freehold R5.3 million, sectional title R2.85m.

Five-year year-on-year price growth: Freehold 27.7%, sectional title 90%.

10-year year-on-year price growth: Freehold 89.3%, sectional title 156.1%. This suburb appears to have broader appeal than neighbouring Sea Point, with nearly a third of all recent buyers spread across young adults (34%), middle-aged (30%) or mature (30%). Stable owners are overall younger than in Sea Point, with the largest age cohort falling into the mature category and more middle-aged owners than retirees.

Sea Point

Median price: Freehold R8m, sectional title R3.5m.

Five-year year-on-year price growth: Freehold 79.7%, sectional title 111.6%.

10-year year-on-year price growth: Freehold 300%, sectional title 200%. Nearly half (45%) of recent buyers were young adults and 14% were middle-aged. The profile of stable owners is noticeably older (37% retirees and 31% mature homeowners). 

V&A Waterfront

Median price: Sectional title R14.5m.

Five-year year-on-year price growth: Sectional title 131%.

10-year year-on-year price growth: Sectional title 141.7%. Almost half of current stable owners are mature and 30% are retirees. Lightstone estimates 44% of recent buyers were young adults.

City Bowl Cape Town CBD

Median price: Freehold R5.7m, sectional title R1.99m.

Five-year year-on-year price growth: Freehold 32.6%, sectional title 75.4%.

10-year year-on-year price growth: Freehold 35.2%, sectional title 90.4%. While nearly a third of recent buyers were young adults, a slightly larger percentage was middle-aged.

Gardens

Median price: Freehold R3.78m, sectional title R2.2m.

Five-year year-on-year price growth: Freehold 0.6%, sectional title 57.1%.

10-year year-on-year price growth: Freehold 56%, sectional title 120%. Nearly two thirds of recent buyers were young adults, suggesting the area appeals to first-time buyers (median price R2.2m for a Gardens apartment).

Oranjezicht

Median price: Freehold R5.95m, sectional title R2.17m.

Five-year year-on-year price growth: Freehold 11.2%, sectional title 75.4%.

10-year year-on-year price growth: Freehold 76.3%, sectional title 128%. This suburb appeals to a broad range of homeowners, with stable owners fairly evenly spread between retirees, mature and middle-aged, while recent buyers are predominantly middle-aged, young adults and mature. The slightly lower percentage of young adult buyers could be attributed to the lower percentage of sectional title properties.

Southern Suburbs

Claremont Upper

Median price: Freehold R7.5m, sectional title R2.2m.

Five-year year-on-year price growth: Freehold 92.3%, sectional title 79.7%.

10-year year-on-year price growth: Freehold 167.9%, sectional title 116.7%. Over 40% of recent buyers were young adults. Most homes are sectional title (generally favoured by first-time buyers) and are conveniently located near the flourishing business hub of Claremont, making it an appealing first rung on the property ladder. 

Newlands

Median price: Freehold R6.188m, sectional title R2.75m.

Five-year year-on-year price growth: Freehold 67.2%, sectional title 61.8%.

10-year year-on-year price growth: Freehold 107.7%, sectional title 103.7%. There have been a surprisingly large number of young buyers recently, given the median price of homes in the suburb. There is also a significant older age profile of stable owners with an unusually high level of retirees (35%).

Pinelands

Median price: Freehold R3.45m, sectional title R1.15m.

Five-year year-on-year price growth: Freehold 64.3%, sectional title 76.9%.

10-year year-on-year price growth: Freehold 107.6%, sectional title 109.1%. Nearly a third of recent buyers were young adults, many presumably first-time buyers. However, the largest age cohort of recent buyers was middle-aged, presumably families attracted by the lifestyle and access to good schools nearby. 

Rondebosch

Median price: Freehold R4.7m, sectional title R1.88m.

Five-year year-on-year price growth: Freehold 58%, sectional title 79.5%.

10-year year-on-year price growth: Freehold 106.1%, sectional title 179.3%. Nearly 40% of recent buyers were young adults (presumably first-time buyers). This could be attributed to the fact that nearly half of all housing units in the suburb are sectional title properties (often favoured by first-time buyers as being more affordable than freehold property).

Northern Suburbs and Helderberg 

Bellville

Median price: Freehold R1.9m, sectional title R870 000.

Five-year year-on-year price growth: Freehold 49.6%, sectional title 42.6%.

10-year year-on-year price growth: Freehold 90%, sectional title 45.2%. This suburb is attracting a large number of middle-aged and young buyers (the latter likely to be first-time buyers, attracted by the prices) 

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