Golden Acre Property

Location

The neighbouring suburbs of Golden Acre are Golden Hill (towards Helderberg mountain or northern side), Parelvallei (northwest of Golden Acre), Helderrand (north of Golden Acre and located between Parelvallei and Golden Hill), Roundhay (south of Golden Acre and forming part of Somerset West Central) and Nature's Valley (due east of Golden Acre)

Property Market

The total extent of Golden Acre is 71 ha. There are 350 own title properties in the Golden Acre suburb and none sectional title properties. The median land size is 1 067 sq.m. and the median price obtained in 2010 for own title properties had been R1 800 000.

Between 2005 and 2009  92 own title properties (houses) were sold - i.e. an annual average of 18 homes. There has been a drop in sales volumes during 2010 - as only 6 homes (own title) were sold in 2010. That is a decrease of 66 % in sales of own title properties during 2010 as sellers chose to await an improvement in market conditions before marketing their properties.

The highest price achieved to date for an own title property in Golden Acre has been R6,5 million (2007). The lowest price for an own title property obtained during 2010 has been R1 350 000.

Golden Acre experienced a lowering in median prices achieved for own title property between 2009 and 2010 - dropping from R2,2m to R1,8m (i.e. with 18%). The growth in median prices between 2005 (R1 675 000) and 2010 (R1 800 000) has been 16,4% - i.e. an annual growth rate of 3,3%.

Sales statistics regarding the ratio of bonded vs cash sales in Golden Acre varied from 42,8% cash sales in 2005 to 47% (2009) and 33% cash sales in 2010. ABSA bank has with 36,7% the largest bond share in own title property in Golden Acre (Nedbank 15% / Standard Bank 16,7% / FNB 23,3%).