Langebaan Country Club - Property Market Report 2020

Langebaan Country Club - Property Market Report 2020

Country Club, a suburb in central Langebaan is well-established, being an older suburb and is bordered on the south by Myburgh Park, to the north by Langebaan Country Estate, to the west by Midtown and on the eastern side by undeveloped farmland.  A Mashie golf course provides a green lung through the middle and its proximity to the central business district, the lagoon, schools, restaurants and the West Coast National Park make it a popular suburb.

The suburb is almost fully developed and vacant erven are become scarce which is expected to lead to an increase in prices in the foreseeable future. The large plots, plus the lack of levies and restrictive design rules, as opposed to the burgeoning gated estates in Langebaan, have maintained the popularity of Country Club.

1. Country Club Owner Profile / Demographics.

The average household income range in Country Club according to Lightstone is between R20 000 to R30 000 which on average places the owners in the LSM 9 low group.

The period or tenure of ownership, which is a measure of ownership stability, shows that the number of existing owners who have owned their property for 11 or more years is 42%, with another 9% having owned property for between 8 and 10 years. The relatively low combined figure of 51% of property owners having owned property for more than 8 years points to how the ownership profile is starting to change, with many older residents tempted by the increase in prices to place their properties on the market with a view to downsizing. This is supported by the statistic that, of the recent sellers, 45% were owners of the property for more than 11 years.

The relatively high figure of 49% having owned their properties for less than 5 years is an indication that Langebaan is an appealing town, with its proximity to the West Coast Park and the lagoon, plus picturesque surrounding towns such as Paternoster and Jacobsbaai and is attracting a wide range of prospective Buyers.

 The age profile of the stable owners in Country Club shows that the majority of owners, 41%, fall in the mature age group, (50 - 64 years old), followed at 29% by the pensioner group (65 or older)and then the middle aged group (36 - 49 years old) at 26%.

• Youth/Adult: (18-35 years) -  4%
• Middle Aged: (36-49 years) - 26%
• Mature: (50-64 years) - 41%
• Pensioner: (65 and older) - 29%

The recent buyers' age profile is interesting when compared to the stable owners in that it shows a quite dramatic change in the age pattern, where now the recent buyers in the younger two groupings total 45%, compared to the same groupings in the stable owners which total just 30%. The number of recent buyers versus the number recent sellers, in the pensioner group in particular, shows the overall trend of a younger Langebaan population.

Comparison of recent buyers and recent sellers:                          

2. Country Club Real Estate Market - Property Types

 Country Club consists of 1 104 properties of which 968 (87.7%) are own title or freehold properties not in estates, 125 (11.3%) are freehold properties within estates and there are 11 (1%) sectional title properties all of which are in estates.

3. Property Sales In Country Club Park

During the 12 months from January 2020 until December 2020 a total of 42 freehold houses, not situated in estates, were sold at an average selling price of R2 075 000. These 42 houses were sold in the following price brackets, 3 were sold for between R800 000 and R1 500 000, 38 were sold for between R1 500 000 and R3 000 000 and I was sold for more than R3 000 000.

During the same period a total of 4 freehold houses, situated in estates, were sold at an average selling price of R1 041 250. These 4 houses were all sold in the price bracket of between R800 000 and R1 500 000.

During the same period no sectional title properties were sold.

During the same period a total of 13 vacant plots, not situated in estates, were sold for an average price of R562 770.  These 13 vacant plots were sold in the following price brackets, 1 was sold for less than R400 000, 11 were sold between R400 000 and R800 000 and 1 was sold for between R800 000 and R1 500 000.

During the same period a total of 3 vacant plots, situated in estates, were sold at an average price of R383 000, and all were sold for less than R400 000.

Average & Top House Prices achieved in the 12 months January 2020 to December 2020:

• Average house price: 46 Houses sold for an average price of R1 985 110.The highest price being realised was R4 700 000 with the lowest price being R820 000. The 3 top prices achieved were 18 Mermaid Close for R4 700 000, 50 Sleigh Street for R3 000 000 and 10 Zeeland Street was sold for R2 980 000.

Average & Top Vacant Land Prices achieved in the 12 months January 2020 to December 2020

• Average vacant land price: 16 vacant plots sold for an average price of R529 060. The highest price being realised was R1 355 000 with the lowest price being R270 000. The 3 top prices achieved were 1 Bogey Boulevard for R1 355 000, 32 Zeeland Street for R650 000 and 11 Constant Street for R570 000.

4. Capital Growth in Country Club

Median prices and capital growth for homes achieved:

• Country Club's median prices for homes has during the last 10 years grown from R1 150 000 in 2011 to R1 800 000 in 2020 - i.e. a growth of about 56.5% or cumulative growth of 4.6% a year.

Median prices and capital growth for vacant land achieved:

• Country Club's median prices for vacant land has during the last 10 years grown from R250 000 in 2011 to R502 000 in 2020 - i.e. a growth of about 100.0% or cumulative growth of 7.2% a year.

5. Comparison of Country Club with Greater Langebaan Area

For more information about the available properties within Country Club in Langebaan, please follow the link to our website.