Worldview Property

Location

The neighbouring suburbs of Worldview are Helderberg Estate, Jonkershoogte and  Die Wingerd.

Property Market

The total extent of Steenbras View is about 17,9 ha. There are 94 own title properties (92%) in the Steenbras View suburb and 8 sectional title properties (8%). The median land size for own title property is 1 203 sq.m. and for sectional title properties 213 sq.m. The median price obtained in 2010 for own title properties had been R1 495 000 and for sectional title properties R790 500.

Between 2005 and 2009 14 own title properties and between 2005 and 2009 8 sectional title property were sold in Steenbras View - i.e. an annual average of 3 own title properties and 1 sectional title property. Own title sales volumes between 2009 (1 house) and 2010 (3 houses) increased marginally. Sales volumes for own title property in 2010 were on par with the annual average of 3 homes sold in the suburb. Total sales for own title property in Steenbras View during 2010 has been R4 395 000 whilst 2009 sales totaled R1 325 000. Average total sales volumes in Steenbras View during the period 2005 to 2009 has been R3 728 741 p.a. The R4 395 000 total sales achieved in 2010 is therefore 17,8% higher than the average annual total sales volumes between 2005 and 2009.

The highest prices achieved to date for own title properties in Steenbras View have been R3 000 000 (2006), R2 250 000 (2005) and R1 750 000 (2008) and for sectional title properties R 1 920 000 (2005) and R1 800 000 (2006). The lowest price obtained for an own title property during 2010 has been R1 300 000.

Steenbras View 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 Steenbras View 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 Steenbras View 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 Steenbras View (Nedbank 8,3% / Standard Bank 21,7% / FNB 18,3%).