Demand for property in this suburb is high and on an upward spiral as this is where young professionals with families often invest and make renovations to the older homes.
Plumstead is one of 10 suburbs in the country attracting the most number of property website inquiries, according to Seeff agents Peter Thornton and Peter Marais.
“Even during the tough recent economic times, Plumstead continues to show steady growth in property demand and prices have risen accordingly,” says Thornton.
The homes in Plumstead are generally older, and many offer high ceilings and oregon strip flooring. These homes are popular with young executives and developers.
“Buying property in Plumstead is still affordable and makes for a sound investment as the suburb is on an upward spiral,” says Marais.
The average erf size in Plumstead is just on 500m², although there are a number of properties on double and triple stands.
Buyers find the 500m² properties attractive as they are easy to maintain, while still offering enough garden space for children.
“Most new buyers are young professionals with families who often do extensive renovations to modernise,” says Thornton.
One of the largest suburbs in the Cape Peninsula with around 4 000 free-standing homes, there is also strong demand for rentals as Plumstead offers competitive prices.
“Plumstead has seen a significant increase in property sales in the past few years, and within the last year there has been a spike in prices in excess of R3 million. The average price over the past year has been just over R2m.” says Marais.
Resident Sandy Bing says: “Living in Plumstead is comfortable. There’s not much need to travel out of my area.
“A morning of retail therapy is a mere 10 minutes away in the direction of the Blue Route Mall or Cavendish Square, and even closer is Constantia Village.
“Plumstead has a Pick n Pay that attracts shoppers from near and far, and I’m fortunate enough to be able to walk there in minutes for bread and milk or if I run out of chocolate.
“Banks, library, doctors, dentists, dry cleaners, petrol stations, fast food outlets and much more are all on my doorstep in the ‘village’.
“Plumstead residents are friendly in the main with a sense of community, making for great neighbours who arewatching out for one another. It’s no wonder I’ve lived here for 35 years. It’s, well, comfortable.”