The 2020 performance was better than expected given the impact of Covid-19 and the lost trading time due to the hard lockdown, but it did nevertheless follow a dip in 2019 (noting that there is a lag in Deeds Office data and the figures for 2020 are up until the end of November 2020).<\/p>\n Although sales in all three categories declined in 2019 and 2020, estates and freeholdings have not fallen as sharply as sectional title deeds.<\/p>\n Lightstone\u2019s data reflected that almost as many properties were sold to incoming buyers to Mossel Bay (728) in 2020, despite Covid-19. The hard lockdown\/lighter lockdown levels and a smaller scale of economic growth \u2013 as in 2019 (796) and 2018 (776).<\/p>\n For the first time in the three years under review, there were more new homeowners in Mossel Bay who have also retained property in other locations as well.<\/p>\n Mature citizens dominate homeowner market<\/strong><\/p>\n Mossel Bay\u2019s homeowners are on the mature side, with 84% of residents being above 45 and 34% being above 65, which illustrates the importance of the retirement industry to the town. Homeowners under the age of 35 make up just 4% of the total but account for 23% of first-time buyers, while 35\u201345-year-olds account for 28% of first-time purchases while making up just 12% of homeowners.<\/p>\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/04\/Lightstone.jpg\")
<\/a>\u201cThe sound economy and governance in Mossel Bay underpin the steady growth in house prices,\u201d said Ivins-Downes. \u201cHowever, although purchase prices continued to climb in 2019 and 2020, sales in these years actually declined.<\/p>\n<\/a>
\nThere were large releases of sectional title developments in 2007 and 2008 (see above graph) and since then interest in sectional title development has been declining. Some 30% of the owners who purchased at that time still own their properties, contributing to the declining levels of transactions.<\/p>\n<\/a>
\nPopular choice for out-of-towners<\/strong><\/p>\n<\/a>
\nThose buying in Mossel Bay had homes in other provinces and the highest in 2020 was in the Western Cape (241 against 198 in 2019), versus the Eastern Cape (15 in 2020 against 12 in 2019). Most buyers in Mossel Bay are from the Western Cape, with Gauteng and the Eastern Cape 2nd and 3rd in both years.<\/p>\n<\/a><\/p>\n<\/a><\/p>\n