Langebaan Country Club - Property Market Report 2021
Category Town & Suburb Reports - Langebaan
1. Country Club - Introduction
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 have 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.
2. Country Club - Owner Profile / Demographics.
The average household income range in Country Club according to Lightstone is between R44 000 and R57 500 which on average places the owners in the LSM 9 High 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 43%, with another 10% having owned property for between 8 and 10 years. The combined figure of 53% of property owners having owned property for more than 8 years is 2% higher than in 2020.
The relatively high figure of 47% having owned their properties for less than 7 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.
Of the recent sellers there were two ownership group with significant changes over the past year, namely sellers of properties which they had owned for more than 11 years reduced from 45% to 39%, and sellers of properties which they had owned for less than 5 years increased from 28% to 44%.
|
Period of Ownership |
Existing Owners |
Recent Sellers |
|
11 Years and more |
43% |
39% |
|
8 - 10 Years |
10% |
7% |
|
5 - 7 Years |
21% |
10% |
|
Less than 5 years |
26% |
44% |
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 30% by the pensioner group (65 or older) and then the middle aged group (36 - 49 years old) at 26%. This represents minimal change from the previous year.
- Youth/Adult: (18-35 years) - 3%
- Middle Aged: (36-49 years) - 26%
- Mature: (50-64 years) - 41%
- Pensioner: (65 and older) - 30%
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 48%, compared to the same groupings in the stable owners which total just 29%. 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:
|
Age Groups |
Recent Buyers |
Recent Sellers |
|
Youth/Adult 18-35 |
11% |
30% |
|
Middle Aged 36-49 |
41% |
42% |
|
Mature 50-64 |
33% |
18% |
|
Pensioner 65 or older |
15% |
10%
|
3. Country Club - Property Types
Country Club consists of 1 109 properties of which 968 (87.3%) are own title or freehold properties not in estates, 130 (11.7%) are freehold properties within estates and there are 11 (1%) sectional title properties all of which are in estates.
4. Country Club - Property Sales
During the last 12 months a total of 79 freehold houses were sold as opposed to 49 in 2020. This represents an impressive 61.1% increase in sales, and is 6.8% higher than the previous highest year, within a 10-year period, which was 2016 with 74 sales.
During the last 12 months a total of 35 freehold vacant plots were sold. While the highest number of annual sales for freehold vacant land, within the previous 10-year period, occurred in 2014 with a higher figure of 64 registrations, this still represents a 133.3% increase on the recorded sales of 15 in 2020.
The reason for the sharp increase in sales volumes can be attributed to the riots up country, which caused an influx of upcountry buyers to the perceived more safe Western Cape and the influence that Covid had on employers and employees discovering that employees could do a considerable amount of their daily work from home, supported by the fact that most of the estates in Langebaan have access to fibre connectivity.
During the 2020 no sectional title properties were sold.
Average & Top Non -Estate Freehold House Prices:
- Average house price: During the 12 months from January 2021 until December 2021 a total of 67 freehold houses, not situated in estates, were sold at an average selling price of R2 190 970. These 67 houses were sold in the following price brackets, 5 were sold for between R800 000 and R1 500 000, 60 were sold for between R1 500 000 and R3 000 000 and 2 were sold for more than R3 000 000.
- Top House Prices: The 3 top prices achieved during this period were 4 Petrel Close (R2 900 000), 1 Zeeland Street (R3 395 000) and 27 Albatros Street (R4 950 000).
Average & Top Estate Freehold House Prices:
- Average house price: During the same period a total of 12 freehold houses, situated in estates, were sold at an average selling price of R1 302 917. These 12 houses were sold in the following price brackets, 11 were sold for between R800 000 and R1 500 000 and 1 was sold for between R1 500 000 and R3 000 000.
- Top House Prices: The 3 top prices achieved during this period were 19 Saffier Street (R1 475 000), 11 Saffier Street (R1 495 000) and 9 Emerald Close (R1 540 000), all in Villa Diamante.
Average & Top Non-estate Vacant Land Prices:
- Average vacant land price: During the same period a total of 28 vacant plots, not situated in estates, were sold for an average price of R613 321. These 28 vacant plots were sold in the following price brackets, 1 was sold for less than R400 000, 24 were sold between R400 000 and R800 000 and 3 were sold for between R800 000 and R1 500 000.
- Top Vacant Land Prices: The 3 top prices achieved during this period were 10 Wanderers Way (R840 000), 2 Zeeland Street (R850 000) and 10 Albatros Street (R997 000).
Average & Top Estate Vacant Land Prices:
- Average vacant land price: During the same period a total of 7 vacant plots, situated in estates, were sold at an average price of R388 857, These 7 vacant plots were sold in the following price brackets, 4 were sold for less than R400 000 and 3 were sold between R400 000 and R800 000
- Top Vacant Land Prices: The 3 top prices achieved during this period were 8 Emerald Close (R400 000), 47 and 49 Diamant Street (R449 000 each), all of which are in Villa Diamante.
5. Country Club - Capital Growth
Median prices and capital growth for homes achieved:
- Country Club's median prices for homes has grown from R1 000 000 in 2012 to R1 905 000 in 2021 - i.e. a growth of about 90.5% or cumulative growth of 7.4% a year.
Median prices and capital growth for vacant land achieved:
- Country Club's median prices for vacant land has grown from R280 000 in 2012 to R535 000 in 2021 - i.e. a growth of about 91.1% or cumulative growth of 7.5% a year.
6. Comparison of Country Club with Greater Langebaan Area
|
Total number of registered properties as at 31 December 2021 |
Total Property Sales from 1 January 2021 to 31 December 2021 |
||||
|
Suburb |
Freehold Properties |
Sectional Title Units |
Freehold Houses sold |
Sectional Title Units Sold |
Vacant Land sold |
|
Country Club |
1098 |
11 |
79 |
0 |
35 |
|
Greater Langebaan |
6898 |
818 |
492 |
110 |
207 |
|
Sales Comparison - 1 January 2021 to 31 December 2021 |
||||||
|
Suburb |
Average House Price |
Average Sectional Title unit price |
Average Vacant Land Price |
House Price Median Growth |
Sectional Title Unit Median Growth |
Vacant Land Median Growth |
|
Country Club |
R2 056 075 |
R0 |
R568 428 |
7.4% |
0% |
7.5% |
|
Greater Langebaan |
R2 438 551 |
R1 244 411 |
R604 705 |
7.8% |
6.8% |
11.2% |
For more information about the available properties within Country Club in Langebaan, please follow the link to our website
Author Lightstone / N van den Heuvel
Published 12 Oct 2022 / Views -