Laguna Sands & Laguna Hills Estate - Property Market Report 2020
1. Laguna Sands and Laguna Hills Estate - Introduction
Originally the estate just consisted of Laguna Sands but in 2018 a further extension towards the north western boundary, called Laguna Hills was introduced.
The estate is bordered on the south by the suburb of Skiathos, to the west by Club Mykonos and Paradise Beach Estate, to the east by the Laguna Mall, a medical facility and by La Pinta Lifestyle Village while to the north there is undeveloped land. The estate is accessed controlled via booms, with Laguna Hills having a further set of booms within the estate, and its proximity to the Laguna Mall and to Club Mykonos has led to its popularity.
These attributes, combined with the other attractions in and around Langebaan such as the West Coast National Park, an array of water sports and neighbouring towns such as Darling and Paternoster, have made Laguna Sands Estate a sought after estate in Langebaan.
2. Laguna Sands Estate Owner Profile / Demographics.
The period or tenure of ownership, which is a measure of ownership stability, shows that the existing owners who have owned their property for 11 or more years are 15% with another 3% having owned property for between 8 and 10 years. This relatively low combined figure of 18% of property owners having owned property for more than 8 years is discussed in conjunction with the number of recent sellers below. The recent popularity of the estate is shown by the 58% of owners who have owned property for less than 5 years. Another 24% of owners have owned their property for between 5 and 7 years. The high figure of 82% having owned their properties for less than 7 years is an indication that Langebaan is a growing town with new houses being constantly built, especially in estates such as Laguna Sands Estate, which attract a broad spectrum of potential Buyers due to competitive pricing.
However it is interesting to note that the number of recent sellers who have owned property for less than 7 years stands at 86% which seems to indicate that Laguna Sands is appealing to first time buyers who then use it as a stepping stone after around 5 years to purchase another property.
The age profile of the stable owners in Laguna Sands Estate shows that the majority of owners, 39%, fall in the mature age group, (50 - 64 years old), followed at 31% by the pensioner group (65 or older).
- Youth/Adult: (18-35 years) - 10%
- Middle Aged: (36-49 years) - 20%
- Mature: (50-64 years) - 39%
- Pensioner: (65 and older) - 31%
The recent buyer's age profile is interesting in that it shows a movement towards younger ownership with only 51% of recent buyers being from the two older age groups compared to the 70% current ownership of the same two age groups.
- Youth/Adult: (18-35 years) - 21%
- Middle Aged: (36-49 years) - 28%
- Mature: (50-64 years) - 44%
- Pensioner: (65 and older) -7%
A comparison of the recent seller's below versus the recent buyer's data shows the volatility in ownership of the two younger age groups with the number of recent buyers being 49% and the number of recent sellers standing at 58%.
- Youth/Adult: (18-35 years) - 5%
- Middle Aged: (36-49 years) - 53%
- Mature: (50-64 years) - 32%
- Pensioner: (65 and older) -11%
3. Laguna Hills Estate Owner Profile / Demographics.
With Laguna Hills only being recently developed the data available is limited to the age of the owners which is as follows:
- Youth/Adult: (18-35 years) - 19%
- Middle Aged: (36-49 years) - 43%
- Mature: (50-64 years) - 32%
- Pensioner: (65 and older) - 6%
This is significant different to the profile of the owners in Laguna Sands, where the younger two groups total 30%, in Laguna Hills the total for the same two groups is 51%.
4. Laguna Sands Estate - Property Types
Laguna Sands consists of 352 freehold properties of which approximately 80% have been developed.
5. Laguna Hills Estate - Property Types
Laguna Hills consists of 45 freehold properties of which more than 60% have been developed.
6. Property Sales In Laguna Sands Estate
During the last 12 months a total of 19 freehold houses were sold. The highest number of annual sales for freehold houses occurred in 2018 with 36 registrations, followed by 2017 with 33 registrations.
During the last 12 months a total of 12 freehold vacant plots were sold. The highest number of annual sales for freehold vacant land occurred in 2017 with 41 registrations, followed by 36 registrations in 2016.
Average & Top Freehold House Prices
- Average house price: During the 6 months from June 2019 until November 2019 a total of 6 freehold houses were sold at an average selling price of R1 450 000. These 6 houses were in the following price brackets, 5 were sold for below R1 500 000 and 1 was sold for between R1 500 000 and R3 000 000.
The 3 top prices achieved were 9 Strandroos Crescent for R2 100 000, 2 Klokkiesbos Close for R1 335 000 and on Erf 9801 Meeuwen was sold for R1 150 000.
Average & Top Freehold Vacant Land Prices
- Average vacant land price: During the 6 months from June 2019 until November 2019 a total of 8 freehold vacant plots were sold at an average selling price of R393 900. These 8 freehold plots were in the following price brackets, 3 were sold for below R400 000 at an average price of R302 150 and 5 were sold for between R400 000 and R800 000 at an average price of R449 000.
The 3 top prices achieved were 6 Taaibos Street for R485 000, 9 Gwarrie Street for R480 000, and 20 Katdoring for R450 000.
7. Property Sales In Laguna Hills Estate
During the last 12 months a total of 8 freehold houses were sold. Sales of freehold houses started in 2018 with 34 registrations.
During the last 12 months there was 1 recorded sale of a freehold vacant plot. Sales of freehold vacant land started in 2018 with 7 registrations.
The majority of properties sold were with houses built by the developer, hence the low vacant land sales.
Average & Top Freehold House Prices
- Average house price: During the 6 months from June 2019 until November 2019 a total of 6 freehold houses were sold at an average selling price of R1 495 000. These 6 houses were in the following price brackets, 3 were sold for below R1 500 000 and 3 were sold for between R1 500 000 and R3 000 000.
The 3 top prices achieved were on Erf 10605 Rooi Malva Street for R1 650 000, on Erf 10604 Rooi Malva Street for R1 640 000 and on Erf 10616 Rooi Malva Street was sold for R1 550 000.
Average & Top Freehold Vacant Land Prices
- Average vacant land price: During the 6 months from June 2019 until November 2019 only 1 freehold vacant plot was sold at a price of R640 000. This freehold plot was Erf 10593 in Bruin Salie Street.
8. Capital Growth in Laguna Sands Estate
Median prices and capital growth for freehold homes achieved:
- Laguna Sands Estate's median prices for freehold homes has during the last 9 years grown from R850 000 in 2010 to R1 080 000 in 2019 - i.e. a growth of about 27.0% or about 2.7% a year
Median prices and capital growth for vacant land achieved:
- Laguna Sands Estate's median prices for vacant land has during the last 9 years grown from R222 000 in 2010 to R380 000 in 2019 - i.e. a growth of about 72.7% or about 7.3% a year
9. Capital Growth in Laguna Hills Estate
As this estate was only established in 2018 there was insufficient data for a meaningful comparison.
For more information about the available properties within Laguna Sands Estate and Laguna Hills Estate please follow the link to our website