House price growth in Welgevonden Estate (Stellenbosch)
We have received an overwhelming positive response since the publication of our first two market snapshots in 2011, and we will continue to strive to make this publication the benchmark with regards to property information in Welgevonden Estate going forward.
This report deals with property prices and movements in Welgevonden Estate between 1 January 2009 and 31 May 2012. The average sales price in 2009 was +/- R1345000. In 2010 Welgevonden Estate experienced nominal growth of 5.16% in terms of the average sales price achieved, and as such in 2010 the average sales price grew to +/- R1415000. In 2011 the average sales price achieved was +/- R1520000, up 7.42% year on year (nominal growth). Currently (data for 2012 up to end of May), the average sales price in Welgevonden Estate is hovering around R1550000 (up +/- 2% year on year). This data is however slightly skewed by the fact that there has been a decrease of roughly 3m² in the average size of homes traded in 2012 vs 2011.
It is also worthwhile to mention that Meridian Realty currently holds an +/- 37% market share (the highest of any agency) in terms of turnover (rand value) of properties traded in Welgevonden Estate up to end of May 2012. A phenomenal accomplishment considering that there are over 20 agencies active within the estate. CLICK HERE to download the full report.
Meridian Realty provides a FREE SERVICE with regards to Comparative Market Analysis (i.e. market valuation) of properties within Welgevonden Estate, and we will gladly assist you in this regard.
Please do not hesitate to contact us should you have any further enquiries.
Author: Antonie Goosen