175 property sales in St Francis

The total value of property sales registered at the Deed’s Office in the 12 months to end May was R 215m, well below a few years back.

This includes Cape St Francis (R 39m) and St Francis Links (R 18m). Sorting the 175 sales into price bands gives the following:

R5m – R7m: 4 houses
R4m – R5m: 6 houses
R3m – R4m: 8 houses
R2m – R3m: 16 houses
R700,000 – R2m: 53 houses, 7 apartments and 8 plots
R300,000 – R700,000: 6 apartments and 26 plots
Below R300,000: 41 plots

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“Surprisingly, of the 175 sales, only 34 were over R2m, much lower than a few years ago” said Richard Ardene from Pam Golding Properties.

“The other surprising statistic is the large number of plots (41) sold for under R300,000, mostly in Santareme and on St Francis Links. Buyers are seeing value, with plots trading at about 50% lower than a few years ago”.

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