Oudtshoorn property registrations: 1 Jan to 30 June 2017
By Elmarie Jacobs
Since 2012 I have been analysing our local property market to enable me to give accurate valuations and to best serve my buyers and sellers.
The interpretations below are estimates and based on the registration of erven properties at the Deeds Office.
They do not include sectional title transfers and also do not distinguish between residential and commercial properties, although I do believe that the majority of these registrations account for vacant stands and houses.
Oudtshoorn property registrations from 1 January to 30 June 2017:
• In this period roughly 16 properties registered between R100 000 and R199 000, representing 10% of the market.
• The price range R200 000 to R399 000 reflected 18% with 30 registrations.
• Houses in the R600 000 to R799 000 bracket equated to 31 registrations and 19% market share.
• The R400 000 to R599 000 price range and the R800 000 to R999 000 tied at 16% with 26 registrations each.
• The 10 registrations in the price range R1 million to R1,2 million comprised 6% of the market.
• A total of 26 properties (16%) sold for prices exceeding R1,2 million.
• 13 (8% of total sales) properties registered between R1,2 and R1,5 million.
• 7 (4%) registered between R1,5 and R2 million.
• 5 (3%) registered between R2 and R3 million; and
• 1 (1%) property registered for more than R3 million.
• Property sales exceeding R1,2 million seem to be consistent with registrations in 2016.
An interesting game changer in 2016 was the marked increase in registrations in these price brackets:
• 25 (8% of total sales) properties registered between R1,2 and R1,5 million.
• 15 (5%) registered between R1,5 and R2 million.
• 4 (1%) registered between R2 and R3 million; and
• 7 (2%) registered for more than R3 million.
With a total of 165 registrations for our current first half-year, I dare to venture that we might quite possibly equal (or even surpass) the amount of total registrations last year, which was a high of 332.
In its simplest terms this means that buyers perceive Oudtshoorn as a safe, secure and lucrative place to invest in real estate.
Price range comparisons for 2016, 2015, 2014, 2013 and 2012: