Schonenberg Property

Location

The neighbouring suburbs of Schonenberg are Heldervue, Somerset Ridge, Somerset Business Park and Die Wingerd.

Property Market

The total extent of Schonenberg is about 78,3 ha. There are 480 own title properties (87%) in the Schonenberg suburb and 71 sectional title properties (13%). The median land size for own title property is 513 sq.m. and for sectional title properties 132 sq.m. The median price obtained in 2010 for own title properties had been R650 000 and for sectional title properties R2 000 000.

Between 2005 and 2009 701 own title properties and between 2008 and 2009 39 sectional title property were sold in Schonenberg - i.e. an annual average of 140 own title properties and 19 sectional title property. Own title sales volumes between 2009 (90 properties) and 2010 (55 properties) decreased by 39%. Sales volumes for own title property in 2010 were 61% below the annual average of 140 properties sold in the suburb during the preceding 5 years. Total sales for own title property in Schonenberg during 2010 has been R64 192 000 whilst 2009 sales totaled R67 399 000. Average total sales volumes in Schonenberg during the period 2005 to 2009 has been R107 770 030 p.a. The R64 192 000 total sales achieved in 2010 is therefore 40% lower than the average annual total sales volumes between 2005 and 2009.

The highest prices achieved to during 2010 for own title properties in Schonenberg have been R6 783 000 and for sectional title properties R 2 250 000 (2005). The lowest price obtained for an own title property during 2010 has been R300 000 (erf at an auction) and for a sectional title property R950 000.

Schonenberg experienced a 18,2% growth in median prices for own title property between 2009 and 2010 - increasing from R550 000 to R650 000 (due to the large amount of erfs being sold). The growth in median prices for sectional title property between 2008 (R1 780 000) and 2010 (R2 000 000) has been 12,4% - i.e. an annual growth rate of 6,2%. The growth in median prices for own title property between 2006 (R525 000) and 2010 (R650 000) has been 23,8% - i.e. an annual growth rate of 6%.

There has been a 73,2% growth in average prices of own title property in Schonenberg between 2006 (R673 935) and 2010 (R1 167 127) - that is an annual growth rate of 18,3%. The growth in average prices for sectional title property between 2008 (R1 738 550) and 2010 (R1 826 937) has been 5,1% - i.e. an annual growth rate of 2,5%.

Sales statistics regarding the ratio of bonded vs cash sales in Schonenberg varied from 25% cash sales in 2006 to 76% cash sales in 2010. ABSA bank has with 38,5% the largest bond share in own title property in Schonenberg (Nedbank 19,1% / Standard Bank 23,2% / FNB 16,1%). 

• Residential Sale Property Ranging from R1,995,000 to R3,500,000