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Will Hout Bay sell R1bn worth of property this year?

hout-bay-homeHome sales in Hout Bay are expected to hit the R1bn mark this year. This is according to Stephen Cross, sales manager for Seeff Hout Bay and Llandudno, who said at the end of August property sales valued at R615m had already been concluded in the area.

Cross said the Hout Bay market is extremely active and he doesn’t expect too much of a slow-down as the end of the year approaches.

“There is activity in all segments of the Hout Bay market, ranging from affordable apartments priced from R1,45m (just short of 16% of the total market value is sectional title apartments), vacant plots in the same price range, to comfortable family homes in the lower millions and expensive villas fetching prices of up to R12m,” he said, noting the average selling price in Hout Bay is around R3,582m compared to an average listing price of about R3,786m. “A difference of only 5.4% between average listing and selling price is indicative that sellers working through Seeff are well positioned to achieve the best possible price for their property, especially when seen in context of the rest of the Hout Bay property market where this difference is above 7%.”

Photo: This four-bedroom, two-bathroom villa in Nooitgedact, Hout Bay, has separate access to a one-bedroom cottage. The home is priced at R4,850m and is being marketed through Seeff https://goo.gl/zaAL0P


David A Steynberg, managing editor and director of HomeTimes, has more than 10 years of experience as both a journalist and editor, having headed up Business Day’s HomeFront supplement, SAPOA’s range of four printed titles, digimags Asset in Africa and the South African Planning Institute’s official title, Planning Africa, as well as B2B titles, Building Africa and Water, Sewage & Effluent magazines. He began his career at Farmer’s Weekly magazine before moving on to People Magazine where he was awarded two Excellence Awards for Best Real Life feature as well as Writer of the Year runner-up. He is also a past fellow of the International Women’s Media Foundation.

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