Kuils River on an upward trajectory
Category News
Although many Capetonians are still not aware of it, Kuils River has become one of the fastest appreciating and most “with-it” suburbs in Greater Cape Town, says Rowan Alexander, Director of Alexander Swart Property. What was once, he says, a rather scruffy semi-dormitory village close to such industrial areas such as Brackenfell (and with a very unattractive main street) has in the last decade and especially in the last five years, he says witnessed a proliferation of welldesigned middle to upper bracket residential developments to the north and east of the village. These often border on vineyards, farmlands and equestrian estates and are among the most attractive new projects yet seen in Greater Cape Town.
One of the catalysts bringing about the huge upliftment process, says Alexander, has been Harold Johnson’s transformation of the Zevenwacht estate and winery into a big name brand--and this was complemented by the development on this estate of an upmarket hotel, hospitality and restaurant venues and a conference centre (as well as the estate’s own cheese making facility).
“This major, well-funded upliftment programme set the tone for the whole area and led to the development of such highly attractive new estates as Klein Zevenwacht, Zevenwacht Lifestyle Estate, Zevenwacht Village,Zevendal Residential Estate and Eikenbosch Estate-- as well as new suburbs such as Hazendal. In the estates many of the homes are in luxury category with excellent security. In fact, of the 16908 homes in Kuils River, no less than 2346 are in gated estates – and these continue to be developed.”
The ongoing development, says Alexander, has caused a price escalation which has also affected even the humblest and least expensive old homes and cottages in the area, many previously priced well below R1million.
“In the last three years the median price of Kuils River homes has risen from R950 000 to R1 250 000. This is mainly due to the proliferation of new homes in the upper brackets where the prices can now often be from R4 to R6million while some (for example a home now for sale in the Zevenwacht Equestrian Estate) can be as high as R9 million or more. The average price of second hand homes in Kuils River estates, according to the analysts Lightstone, is now R1,9 million while those not in estates have an average price of R1,2 million.”
Alexander Swart Property, which went independent from a large national agency 18 months ago, believes Kuils River has a great future, says Alexander.
“Our group has served it from our Brackenfell office for just over a year now, during that time selling just under 20 homes in the area. We plan to establish a local office there in the not- too- distant future. We think that very few Cape precincts are likely to see the same growth and price rises as this former dormitory village, now on course to being one of the Cape’s prime residential nodes,” says Alexander.
Although the area’s well designed and well promoted new homes have attracted the most attention, one or two far sighted, shrewd buyers, says Alexander, have realised that there are still good value middle bracket buys (often on fairly large plots) to be had for under R2 million and even some below R1,5 million. “I can think of no more sensible buy than one of these, particularly if it is reasonably close to the newly developed estates,” hesays.
The popularity of the area, he says, has attracted the younger upwardly mobile buyers: according to the analysts, Lightstone, 32% of recent buyers have been in the 18 to 35 year old age group while 39% are aged 36 to 49 years old.
“When younger people move into an area it is always an indication that it is on an upward trajectory,” says Alexander.
Author: Independent Author
