Cape Town property is still an option for savvy buyers looking for value for money and a good investment, but times are changing and being wise to the ebb and flow of the market is essential, according to Laurene van Coller, Team Lead for Leadhome in the Western Cape.
On the radar
Buying property in the Western Cape seems to be on everyone’s radar – as the quick route to maximum return on your investment. Before even discussing the pros of buying property in one of the most beautiful regions of the country, Van Coller will definitely ask you to be more specific.
“The Western Cape is a huge area,” she points out. “Different suburbs and areas are pretty diverse and offer many unique characteristics when it comes to buying and selling property.”
Van Coller is Team Lead for Leadhome in the Western Cape and also holds the position as local property expert for Cape Town Central. She says buyers and sellers need to be discerning when choosing an area for investment.
She says, “In Cape Town and the surrounding areas, it’s not a case of one size fits all – there are different and unique aspects to each area, and that’s why it’s important to work with an expert, like the team at Leadhome. We are driven by the latest data, and we also pride ourselves on being authentic in our interactions with buyers and sellers”.
Investing in property in Cape Town and surrounds still makes sense, according to Van Coller, although the market has gone through some major changes and has shown signs of “slowing down”.
She says there are a number of reasons for this. The drought has certainly had some influence on the market, as have the discussion around land expropriation and the fact that there is an upcoming election.
There are also issues like emigration and downsizing that play a role in the wane and flux of the market.
She says that a while ago there was a huge influx of Gautengers in the Western Cape, but this “semigration” seems to have eased off a little.
Working smarter
When the economy is struggling, the property market feels the heat – and for Van Coller and her team, it’s all about working smarter to get the best possible deals for their Leadhome customers.
Van Coller says there is no reason for any doom and gloom when looking at the Cape Town property market – there is still excellent value to be found in and around Cape Town, but buyers need to do their homework (and team up with experts like those at Leadhome who know and constantly work with the latest facts and figures).
“People have seen exceptional growth,” she says. “The stats from FNB over the past five years state that there has been 110% growth on properties. Although it is a buyer’s market, sellers can still reap the reward of their high capital growth over the years and buyers get the opportunity to enter the market at value. The market currently allows for opportunity to buy at good value,” she says.
The Leadhome model
Finding a good deal means looking at all aspects along the value chain. Van Coller says that the Leadhome model is designed to benefit the customer.
Leadhome also offers the advantage of being tech-friendly. “The technology is a major benefit in our system – we run 24/7 and you don’t necessarily need to get hold of a local property expert after hours or wait for the next morning to arrange for viewings or bookings.”
The city that keeps on giving
Van Coller originally comes from Gauteng, but has spent the past 14 years in Cape Town and wouldn’t swop her adopted city for anything. The city really has everything going for it, she says – a strong sense of community, a thriving business centre, excellent nightlife, restaurants and entertainment, not to mention the great outdoors, a magnificent mountain, beautiful oceans and a range of incredible activities on offer all year round.
She says the investment in buying a property in Cape Town and the surrounding suburbs is not merely about the return, it’s all about investing in a certain quality of life.
As for the Cape Town property market at the moment, Van Coller says it’s all about staying the distance and making sound decisions that are driven by the data.
“Customers respond well to the Leadhome model as they understand that it’s all about a win-win situation for everyone,” she says.
This post has been edited to accurately reflect our current business model.
