Steynsrust Property

Location

The neighbouring suburbs of Steynrust are Helderberg Village , Jonkershoogte and  Bakkershoogte.

Property Market

The total extent of Steynrust is about 76,57 ha. There are 572 own title properties (97%) in the Steynsrust suburb and 15 sectional title properties (3%). The median land size for own title property is 1 010 sq.m. The median price obtained in 2010 for own title properties had been R1 554 500 and for sectional title properties R5 390 836.

Between 2005 and 2009 158 own title properties and 5 sectional title property were sold in Steynrust - i.e. an annual average of 32 own title properties and 1 sectional title property. Own title sales volumes between 2009 (23 houses) and 2010 (20 houses) dropped by 15% as owners opted not to sell their properties at below market values. Sales volumes for own title property in 2010 were 37,5% below the annual average of 32 homes sold in the suburb. Total sales for own title property in Steynrust during 2010 has been R32,649 million whilst 2009 sales totaled R35,154 million - i.e. a year on year drop of 7,1%. Average total sales volumes in Steynrust during the period 2005 to 2009 has been R40 898 920 p.a. The R32,649 million total sales achieved in 2010 is therefore 20,2% lower than the average annual total sales volumes between 2005 and 2009.

The three highest prices achieved to date for own title properties in Steynsrust has been R2,6 million (2005 and 2009) and R2,4 million (2010) and for sectional title properties R960 000 (2007). The lowest price obtained for an own title property during 2010 has been R1 125 000 and for sectional title property R5 781 672.

Steynrust experienced only a 1% growth in median prices for own title property between 2009 and 2010 - increasing from R1 540 000 to R1 554 500. The growth in median prices for sectional title property between 2005 (R3 254 200) and 2009 (R5 390 836) has been 65,66% - i.e. an annual growth rate of 16,4%. The growth in median prices for own title property between 2005 (R890 000) and 2010 (R1 554 500) has been 74,66% - i.e. an annual growth rate of 14,9% which is one of the highest annual growth rates in Somerset West during the last 5 years.

There has been a 59,9% growth in average prices of own title property in Steynsrust between 2005 (R1 021 069) and 2010 (R1 632 450) - that is an annual growth rate of 11,9%. The growth in average prices for sectional title property between 2005 (R3 254 200) and 2009 (R5 390 836) has been 65,65% - i.e. an annual growth rate of 13,1%.

Sales statistics regarding the ratio of bonded vs cash sales in Steynsrust varied from 34% cash sales in 2005 to 31,8% cash sales in 2010. ABSA bank has with 41,7% the largest bond share in own title property in Steynsrust (Nedbank 8,3% / Standard Bank 21,7% / FNB 18,3%). 

 

 

 

Our listings price ranges for Steynsrust Property:

• Residential Sale Property Ranging from R2,695,000 to R2,695,000