Despite more subdued trading conditions over the past two years, the average selling prices of the Atlantic Seaboard’s top five suburbs – which are incidentally also the top five suburbs in the country – are edging closer to the R20 million price mark for a full title house.
This is according to Lance Cohen and Simony Santos, Seeff’s luxury market team for the Atlantic Seaboard, who said that while overall sales have been slower since early last year, buyers have still paid significantly for the right property.
“We see for example that full title sales in the R20 million-plus sector for the 2017-year exceeded R1 billion at an average selling price of R32.5 million, most of these coming from the big five suburbs and prices ranging to over R100 million in Clifton,” Seeff said.
Seeff looked at the top five suburbs and ranked them according to the average selling price (for a full title house) for the 2017-year based on a mix of Propstats and Lightstone data.
With all the anomalous sales removed to give an accurate reflection the average selling prices, these rank as:
- Clifton – R18 million
- Llandudno – R17.8 million
- Bantry Bay – R17.7 million
- Camps Bay – R17.7 million
- Fresnaye -R16.6 million
“Overall, full title sales (excluding vacant land sales) for these big five suburbs amount to 87 sales worth over R1.7 billion at an average selling price of just under R20 million,” said Seeff.
“This represents about 77% of the value of all full title sales generated for the Atlantic Seaboard for the 2017 year,” it said.
The biggest price movements, have been in Llandudno and Camps Bay. In terms of R20 million-plus sales, Camps Bay boasted the most with 11 transactions followed by Fresnaye (7 sales), Clifton (5), Bantry Bay (4) and Llandudno (2). Notably, all full title sales in Clifton were above R20 million said the agents.
Over 80% of sales were to local Cape buyers followed by Joburg and foreign buyers who comprise only about 20% of all sales. Llandudno were almost exclusively local buyers.
This follows recent trends, said Seeff, as the most notable price shifts evident over the last five years have been driven by high demand from local Cape buyers and from Joburg (and other wealthy upcountry) buyers rather than foreigners.
Below are six of the most expensive homes for sale in the country, which Seeff also holds a mandate for:
Clifton – R150 million
A Stefan Antoni-designed Pentagon which comes with five bedroom suites including two master suites, open-plan living rooms that lead to a patio and pool which floats above the Atlantic Ocean.
Camps Bay – R77.5 million
A 1,029 sqm luxury home that tlooms over the Atlantic Ocean with sea and mountain views, six ocean-facing bedrooms, two separate guest suites, a cinema, gymnasium, steam room and more.
Fresnaye – R75 million
A six-bedroomed home with extras such as a wine cellar set over four levels with direct lift access and a private vineyard, perched on the slopes of Lion’s Head with panoramic views of Robben Island.
Fresnaye – R65 million
A villa with incredible sea views, six spacious bedrooms and bathrooms, all complete with their own balconies, expansive living areas and features such as an elevator, cinema, jacuzzi, gym and steam room, indoor pool and an extended patio with a rim flow pool as well as small garden with lawn.
Llandudno – R30 million
A beach house with stunning views and 5-star boutique hotel lifestyle with designer finishes, three bedrooms plus two studio apartments, multi-car garaging, a swimming pool, landscaped water wise garden, and rain water tanks.