Helderrand Property

Location

The neighbouring suburbs of Golden Hill are Golden Acre (southern side), Parelvallei (southwest of Golden Acre), Helderrand (northwest of Golden Acre and located between Parelvallei and Golden Hill), World's View (east and northeast of Golden Acre) and Nature's Valley (southeast of Golden Acre)

Property Market

The total extent of Helderrand is 52 ha. There are 250 properties in the Helderrand suburb of which 248 are own title (99%) and 2 are sectional title (1%). The median land size is 1 215 sq.m. and the median price obtained in 2010 for own title properties had been R2 300 000.

Between 2005 and 2009 74 own title properties (houses) and 2 sectional title properties (apartments) were sold - i.e. an annual average of 15 properties. In a similar trend to the other higher priced suburbs in Somerset West, a big drop in sales volumes (87%) occurred in Helderrand during 2010 with only 2 homes (own title) selling during the year. Owners simply withdrew their properties from the market and or kept their price levels intact - waiting for the property market to regain momentum.

The highest price achieved to date for a house in Helderrand has been R6,5m. The lowest price obtained during 2010 has been R2,2m.

Helderrand experienced a slight growth in median prices achieved for own title property between 2009 and 2010 - growing from R2,25m to R2,3m (i.e. with 2,2%). The growth in median prices between 2005 (R1,775m) and 2010 (R2,3m) has been 29.6% - i.e. an annual growth rate of 5,9%.

Sales statistics regarding the ratio of bonded vs cash sales in Helderrand varied from 57,7% cash sales in 2005 to 60% (2009) and 50% cash sales in 2010. ABSA bank  has with 41% the largest bond share in own title property in Helderrand (Nedbank 15,4% / Standard Bank 12,8% / FNB 23,1%).

• Residential Sale Property Ranging from R3,900,000 to R3,900,000