Property trends in Welgevonden Estate - 2012
With 2013 already in full swing, we thought it would be interesting to look at what happenend in the Welgevonden Estate Property Market in 2012. To DOWNLOAD THE FULL DOCUMENT click HERE.
AVERAGE SALES PRICE ACHIEVED
The average sales price in 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 terms). Our initial findings for 2012 shows that the average sales price in Welgevonden Estate is hovering around R1605000 (or up +/- 5.59% year on year in nominal terms).
AVERAGE PRICE ACHIEVED PER m²
As another indicator, we have also studied the average price per m² (building size) achieved in Welgevonden over the period in question. The results showed the following average prices achieved per m²:
2009: R8 452.78 p/m²
2010: R9 317.58 p/m²
2011: R9 586.24 p/m²
2012: R10 215.07.13 p/m²
The lowest price achieved per m² in 2011 was R6164.38 p/m² and the highest price achieved per m² in 2011 was R14411.76 p/m². The lowest price achieved per m² in 2012 to date was R7788.73 and the highest price achieved per m² in 2012 to date was R12857.14.
INCREASE IN TURNOVER
There has been a 42.37% increase in the number of units sold in 2012 vs 2011 – 81 vs 60. Inline with this, there has also been an increase of 35% in the turnover in rands – R129864190 (2012)vs. R91215914 (2011).
From the above data it is clear that it has been an exceptional year to date for the property market in Welgevonden Estate. Turnover in rand value and units have increased by substantial amounts over the year. At a 5.59% nominal growth year on year, the estate is comfortably in positive growth territory. It is also the third consecutive year that growth has accelarated.
A number of sales records have been achieved in 2012 by the sales team of Meridian Realty. A record sales price of R2850000 was achieved, as well as two more sales of R2750000. Achieving sales turnover of close to R40 million for 2012, Meridian Realty held an impressive 1st position in terms of market share of around 31% of turnover within Welgevonden Estate – the most of any estate agency operating within Welgevonden Estate by a healthy margin! Meridian Realty also achieved the highest price per square meter in the estate.
Overall, the current outlook for Welgevonden Estate remains positive, fueled by a strong demand for quality properties within the estate. Risk factors such as interest rate increases and access to mortgage finance remain, but seems in-check at the moment.
Should you be interested in a free market valuation, or would like to discuss your property needs within Welgevonden Estate, please be sure to contact us. We believe strongly in the power of technology, and have invested heavily in cutting edge equipment and marketing techniques to attain maximum exposure for our clients. We incorporate professional photography, videography and virtual tours into the marketing of all of our sole mandates. When it comes to property in Welgevonden Estate, we are here to help.
Author: Antonie Goosen