Helena Heights Property

Location

Helena Heights is located on the hill east of the R44 or just above Die Wingerd. Most of the properties offer beautiful views of the Helderberg and False Bay.

Property Market

There are 393 properties in Helena Heights suburb of which 232 are own title (59%) and 161 are sectional title (41%). The median land size is 2054 sq.m. and the median price obtained in 2010 for own title properties had been R2 925 000 and for sectional title property R920 000.

Between 2005 and 2009 49 own title properties (houses) and 49 sectional title properties (apartments) were sold - i.e. an annual average of 10 homes and 10 apartments. Contrary to some of the higher priced suburbs in Somerset West, there has been no drop in sales volumes during 2010 - as 12 homes (own title) and 13 apartments were sold in 2010. That is an increase of 25% in sales during 2010.

The highest price achieved to date for a house in Helena Heights has been R6,25 million during 2010. The lowest price obtained during 2010 has been R1 000 000. The highest price to date for a sectional title property has been R2,825 million.

Helena Heights experienced a strong growth in median prices achieved for own title property between 2009 and 2010 - growing from R2,45m to R2,925m (i.e. with 19,4%). The growth in median prices between 2005 (R2,1m) and 2010 (R2,925m) has been 39,3% - i.e. an annual growth rate of 6,5%.

Helena Heights however experienced a negative growth rate in median values for sectional title properties between 2008 and 2009 - when the median price dropped from R950 000 to R900 000 (-5,2%). The median price has however improved during 2010 to R920 000 - up with 16,5% from the median level of R790 000 in 2005.

Sales statistics regarding the ratio of bonded vs cash sales in Helena Heights varied from 36,3% cash sales in 2005 to 69,2% (2009) and 28% cash sales in 2010. ABSA bank has with 47,2% the largest bond share in own title property in Helena Heights (Nedbank 11,1% / Standard Bank 16,7% / FNB 8,3%).

• Residential Sale Property Ranging from R2,295,000 to R5,750,000