NEWLANDS PROPERTY MARKET ENJOYS POSITIVE ACTIVITY

The residential market in the historic Cape Town suburb of Newlands is enjoying positive activity. “Sales are steady and increasing according to the first quarter figures for 2014,” says Julia Torrente, newly appointed sales consultant to the Newlands area by Jawitz Properties.

The low percentage of stock availability and a rising market are factors that make Newlands an excellent investment opportunity right now.  “Interestingly, a lot of the homes in the area are at least 30 years old, with some much older and only a few newer developments. Newlands is where new and old blend, in an historic, beautiful setting.”

“Sales volumes have remained consistent and Newlands is on track to sell a similar number of units to last year, when approximately 25 sales were negotiated per quarter. This year, 26 sales were completed in the first quarter,” she adds.

The number of days a home was listed for, prior to selling, this year is down by 33% from last year. Julia says this can be attributed to a few factors, including listing prices being closer to selling prices and strong demand.

While an average property for sale in Newlands is priced around R4.5 million, often with three bedrooms, and the majority with a double garage, stand sizes of homes tend to vary. “Properties sold this quarter range in stand size from 172m2 to 2129m2,” Julia says.

She adds that excellent schools in the area such as SACS, Westerford High, Grove Primary, Sans Souci and Herschel are major draw cards for families to live in Newlands. There is also excellent access to highways making it easy to get to the airport, the city and beaches.

When it comes to amenities, 'The Village' is popular for its charming boutiques, eateries and pubs as well as the fact that many of the homes in the area are single storey, which suits mature home owners. “There is a friendly buzz with a village community atmosphere,” she adds.

It’s difficult not to appreciate the scenery; busy squirrels specific to the area, the forest and Kirstenbosh Gardens, and all set in a neighbourhood shaped by Capetonian history.

“Newlands is probably best known for the Cricket Grounds and stadium, along with its brewery history,” Julia says.

“SACS school grounds is now located where the original Ohlsson's Cape Breweries was – which is still next to the rugby grounds. Josephine Mill is the water wheel which was originally used to grind the grain for the brewery and is now an historic monument offering an eatery. The pipeline supplying the Newlands brewery runs under the Cardiff Castle Building located next to Newlands Village. The Liesbeek river, running past the Vineyard Hotel, was the first water source used to make beer in Southern Africa.”

Other historic sites include the original manor house at Fernwood farm, which is now a parliamentary sports club, as well as the Woodcutter’s Cottage and Lady Anne Barnard’s Path.

Francois Venter, Director of Jawitz Properties adds that the Cape and its southern suburbs such as Newlands will always be an attractive location for potential buyers. “The property market is slowly strengthening and picking up momentum again, particularly in such areas,” he concludes.