20 May 2012
The average Western Cape property trend watcher would not think of Malmesbury as a hot spot for investment. It did, however, undergo a remarkable boom in the 2002 to 2009 era when property countrywide appreciated so fast. In this area, the growth in value was even more impressive than that of most of South Africa, says Schalk Liebenberg. He joined Rawson Properties to run this Malmesbury franchise for Dave Evans of Melkbosstrand in 2006 and in 2009 he bought it for himself.
Since the nationwide downturn in property sales experienced over the last three years, said Liebenberg, the homes hardest hit have been those at the upper end of the price scale. In Malmesbury this tends to mean those priced from R2 million upwards and there are in and around the town many gracious Victorian style homes which exude character and charm and which can in today’s market be bought at very good prices.
This franchise covers a very wide area and sales have, said Liebenberg, been kept reasonably buoyant by ongoing demand in the less expensive areas, including even in what were formerly known as informal settlements such as Lingulethu and Saamstaan. The values here are still good. It is possible to get a two or three bedroom home for R400,000 to R600,000 at Chatsworth and the price could well be as low as R300,000, with erven selling for as little as R50,000 to R150,000.
The traditional Malmesbury residential areas homes are now priced from R1 million to R2 million and areas such as Panorama and the relatively new Tafelsig have seen fairly satisfactory turnovers despite the downturn, said Liebenberg. He himself was formerly involved with a 15 unit Tafelsig development, Merino Hills, where plot and plan houses priced from R600, 000 to R1, 2 million sold out in 12 months.
“On average, since the downturn, Malmesbury homes have sold at 20% to 40% less than they did prior to the 2009 dip,” he said. “Plots, sometimes repossessed by banks, have dropped even more. In Malmesbury itself, plots valued at R600, 000 have been selling for R150, 000 and today there are many similar such plots available at equally good prices.”
Malmesbury, said Liebenberg, has always been seen as the ‘capital’ of the Swartland and the focal point for the local wheat, wine and dairy farming activities. With 51 210 residents, it is far bigger than many people realize. The majority of Rawson Properties’ more recent buyers, surprising as it may seem, said Liebenberg, are commuters travelling daily to Cape Town, Bellville, Paarl and even the Helderberg Basin. The 65 km trip on the N7 to the city, he said, is relatively traffic-free and avoids the traffic congestion experienced in Table View and Milnerton. Out of traffic hours the trip can be completed in under 40 minutes.
The entire area, he added, is solidly Afrikaans-speaking and still has a settled and conservative atmosphere with large church congregations, good schools, excellent sports teams (the rugby teams are particularly good), a genuine community spirit and a very low crime rate. The municipality, he said, is one of the few in South Africa today which local residents can respect and rate highly. The police force is always efficient and follows up complaints quickly.
All this, he said, along with the ‘openness’ and country atmosphere of the town makes it especially attractive to Afrikaners who want to see their children raised in a friendly but disciplined environment (away from the ‘mischief’ into which they can so easily be enticed in the big cities) and able to enjoy South Africa’s traditional pastimes rather than those fostered by the urban areas.
In the current conditions, said Liebenberg, there is no shortage of stock and the franchise currently has over 200 homes listed for sale. Among the current bargains in the upper bracket, Liebenberg pointed to a four bedroom single storey home at Panorama, Malmesbury priced at R1, 968,000. Formerly, he said, this home would probably have sold for at least R2, 5 million. It has both living and family rooms, an open plan kitchen with an extractor fan, stove and oven, two garages and a swimming pool. It is also fully air-conditioned.
Equally attractive and sited in the Panorama area is a similar home priced at R1,9 million. This has four bedrooms, two bathrooms, two living/dining areas, a family room, a study and a braai facility. Its garden is in excellent condition and has large mature trees.
These two homes, said Liebenberg, are typical of the many modern attractive homes that central Malmesbury can offer.
Typical of those in the lower price range (where he has considerable stock), said Liebenberg, is a good value home at Wesbank with three bedrooms, two bathrooms, air-conditioning, a garage and a built-in braai. This has a listed price of R699, 000, again a price that in the greater Cape Town area would be inconceivable for a home of this quality.
Liebenberg’s message to property watchers and others, therefore, is “come and have a look – you are certain to be very surprised by how charming and attractive Malmesbury can be and by the good value of today’s properties”.
