Parklands and Sunningdale property market still growing

Neighbourhoods

    
Cape Town’s Western Seaboard has undergone extensive development in recent years, seeing relatively new suburbs like Parklands and Sunningdale grow in both size and popularity. These modern, residential neighbourhoods have become renowned for their excellent value for money, and their properties are regarded by many as offering the best growth potential in the greater Blouberg area.

“Parklands and Sunningdale have a lot to offer buyers,” says Daphne Klopper, franchisee of Rawson Properties Table View and Rawson Properties Parklands. “They’re not only excellent value for money, they also offer a very vibrant and unique lifestyle just minutes away from some of Cape Town’s most unspoilt beaches. Add to that the excellent shopping centres, restaurants and cafes, and the great public and private schools in the area, and it’s easy to see why buyers of all types and ages are eager to move into the neighbourhood.”

Parklands is the older of the two areas, and has numerous developments as well as privately-built homes and plot-and-plan erven. This has created a tapestry of different architectural styles and property types over the years, including freehold properties, security estates and sectional title developments.

“You can find everything from entry-level one-bedroom apartments, to luxurious and vast penthouse units, as well as cottages, family homes, duplexes, triplexes, townhouses and luxury mansions in Parklands,” says Klopper. “Two-bedroomed apartments are available from as little as R500k, and duplexes from R695k. Three-bedroomed family homes start at around R1.5million, and larger, luxury properties can hit R5million or more, particularly in areas like New Parklands North.”

Parklands residents are just as varied as their properties, although the average buyer age is dropping, with 40% of recent purchases made by people under 35, and 80% falling into the under-50 category.

Sunningdale, on the other hand, attracts a slightly older demographic. Only 22% of its recent buyers are under 35, 42% are between 36 and 49, and 33% are over 50.

“The focus in Sunningdale is very family-centric, and the majority of properties are family homes or security complexes,” says Klopper. “There are very few townhouses and no apartments, which does reduce the number of young, single buyers to some extent.”

Planned and built by Garden Cities – a non-profit organisation with nearly a century of experience in suburban development – Sunningdale has a more cohesive design than Parklands, but offers less variety in building style. Prices also run a little higher, on average.

“Two-bedroomed homes start at around R1.5million, while three-bedroomed properties cost upwards of R1.8million,” says Klopper. “High-end homes peak around the R3million mark, although prices on particularly luxurious or well-positioned properties do go higher.”

While their demographics are slightly different, Parklands and Sunningdale have plenty in common, and many trends are equally prevalent in both areas.

“There is huge demand for properties under R1million throughout the region,” says Klopper, “and buyers are snapping up fixer-uppers and family homes. Buy-to-let properties are also extremely popular, particularly in the under-R800k price range, yielding returns as high as 10% to 12%.”

Klopper has also noticed a definite preference for eco-friendly homes, with solar panels, boreholes, energy efficient designs and rainwater harvesting attracting a lot of attention from prospective buyers.

As for the post-purchase experience, signs point towards ongoing appreciation despite the widespread property market downturn.

“Our office has seen an increase in sales volumes and values,” says Klopper, “which is a very good indication of enduring demand and marketgrowth. Development is also continuing, despite the increase in erf prices and building costs, which shows developers are equally optimistic about the future of these two neighbourhoods.”

For more information on properties in Parklands or Sunningdale, pay a visit to the local neighbourhood experts at Rawson Properties Parklands, or give them a call on 021 554 5723

For more information, email marketing@rawsonproperties.com or visit www.rawson.co.za for the latest market tips and industry news.

Rawson

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