SOME PROPERTY TRENDS IN CAPE ST FRANCIS :

Property statistics taken from SAPTG show that the Cape St Francis property market is no exception to the very entrenched 'buyers' market so prevalent in the rest of South Africa at present. Some interesting trends show the following:
2007 - 44 full title sales at a total value of R73 343 000,00
2008 - 31 full title sales at a total value of R33 178 500,00
2009 - 13 full title sales at a total value of R22 650 000,00
2010 - 13 full title sales at a value of R10 661 500,00 to date.

No prizes for guessing when the property slump kicked in!!
The median value for a sale in 2007 was R875 000,00 whereas in 2009, it was R1 100 000,00 which seems to indicate that although number of sales has been severely reduced in the past 2 years, there were still a number of high value sales taking place. The relativey low median value of the sales registered thus far in 2010 of R710 000,00 maybe an indication of what most have felt - that 2010 has been unexpectedly tighter than 2009.

Another interesting statistic is that, whereas in 2007, 30 of the 44 sales were cash transactions with 14 being bonded, cash sales in 2010 are fewer than sales funded by bonds.

AVAILABILITY OF PROPERTY TO PURCHASE IN CAPE ST FRANCIS : this remains limited even in the midst of the entrenched buyer’s market. This is mainly due to there be a limited number of properties in CSF [750] and the fact that traditionally, Cape St Francis is not a speculative market therefore a general trend of unwillingness to sell exists. This contrasts strongly with St Francis Bay which is a mere 4kms away. For this reason buyers can be forgiven for feeling that property prices at Cape St Francis are very high in contrast to the fairly rustic type properties that are being sold. There are both freehold, developed and undeveloped properties for purchase, with a very limited amount of sectional title properties.

SOME GENERAL PROPERTY TREND INDICATED BY 2007 TO 2009 PROPERTY SALES :

OVER A FOUR YEAR PERIOD ENDING IN JULY 2009, A TOTAL OF SEVEN ABOVE R3 000 000,00 SALES TOOK PLACE FOR PRIME, FRONT PROPERTIES AT AN AVERAGE OF R5 000 000,00 PER SALE. THIS INCLUDES DEVLOPED AND UNDEVELOPED PROPERTIES.