Properties in Cape Towns urban fringe Western Coast suburbs '“ Milnerton, Brooklyn, Rugby, Sanddrift, Tygerhof and Century City '“ are benefiting from their closeness to the Cape Town CBD, reports Mark Vladislavich, franchisee for Rawson Properties in Milnerton and adjacent areas.
'Those who live further afield on the West Coast, e.g. in Table View or Parklands will tell you that at peak traffic times it can take them an hour longer to get to the city than it takes someone living in Milnerton. If they leave by 7am they can have a clear run through '“ if they leave after 7:30am they become part of some of the worst traffic congestion in SA today'
The dislike of traffic hold-ups, said Vladislavich, has in less than two years added huge sums to the values of homes in his area. People, he said, will now pay a big premium to be ten or twelve kilometres nearer the city.
'Perhaps the best example is Royal Ascot, the Rabie facilitated precinct around Milnerton Race Course. Here there are now 22 different developments, all sold out, the last two being completed now. In some of the earlier developments, now in their fifth or sixth year, three or even four resales of the same property have already taken place, each time at a significant mark-up'
Rawson Properties resident Royal Ascot specialist, Paola Magni, said Vladislavich, is the top agent in the precinct, signing up five or more resales per month.
'She has the big advantages of living there herself and of being willing to work long hours,' he said.
Thus far, he said, the most sales and the best value increases in Royal Ascot have been seen at La Camargue, which has a Provencal style. Here units that five years ago sold for R600 000 are now fetching R1 350 000. Also selling well are Willow Range (in the price range of R1,3 million to R1,6 million and Birkdale Village, a Tuscan style precinct priced from R900 000 to R 1 100 000.
The close proximity to schools, hospitals and the new 'The Paddocks' retail centre, has added to Royal Ascots attraction, said Vladislavich.
Another growth area in his territory, he added, is Century City. Here Vladislavich is about to open a new Rawson office in The Island Club and he expects this to be handling a portfolio of 200 let units within two years. In addition, he foresees the sales of apartments here topping five per month within a year.
The Rawson stock list, he says, is likely to include apartments in Century on Lake, Villa DItalia, Knightsbridge '“ and many others. Apartment prices (currently ranging from R850 000 for a 70m2 bachelor apartment in Century on Lake to R2,5 million or more (for a Knightsbridge penthouse) are set to rise by at least 15% per annum '“ as, he predicts, will prices of freestanding homes, now selling from R1 million to R2,4 million.
Bothasig, Richwood and Summer Greens, says Vladislavich, have all also shot up in value recently '“ but are still priced at competitive entry levels of R800 000 to R1 million in Bothasig and even lower in Richwood and Summer Greens (R500 000 to R850 000).
Rising sales in all these areas secured for the Rawson Milnerton franchise the second place in the Groups rankings for the December to February quarter of 2007. For the first time in a long while they were ahead of such big area franchises as Blaauwberg, Table View, Parklands and Durbanville '“ although Glenvista in Johannesburg was far ahead of all others in the Rawson pack.
