In this week's Cover Story, the highly respected Financial Mail lists Hout Bay as one of Cape Town's top 5 upper end suburbs.
A suburb survey by FM partnered with property data research Lightstone raises some interesting points. Buyers usually select an area for emotional reasons but now it appears that buyers have become more attracted to suburbs that achieve above-average capital growth over time.
On average sellers are living longer in their homes from a previous national average of 7 years, sellers are postponing moving until they have lived from 10-12 years in one property.
Most economists agree that the likely capital growth over the next five years will be no more than 5% per annum. Andrew Watt of Lightstone makes the point "Price trends over the longer five year period will give a more reliable picture of suburb performance, as any sudden value movements will be smoothed"
In the upper end of the market, Cape Town's top 5 suburbs (in terms of house price growth) are Fresnaye, Sunset Links, Clifton, Camps Bay and Hout Bay.
Hout Bay achieved a 17.41% growth over 5 years. In comparison with the other suburbs on the Atlantic Seaboard Hout Bay offers more desirable buying factors such as a rural community environment, good amenities and schools as well as a varied choice of properties.
Click here For a selection of newly listed properties for sale in Hout Bay
Buying or Selling- contact Matt Mercer +27832991133 or email@example.com.