Vredenburg Residential Property Market: 6,5% Growth in Average House Prices
Vredenburg, a significant commercial and administrative hub within the Saldanha Bay Municipality, continues to offer an accessible and steady residential property market. With a total of 8 823 residential properties, comprising 8 128 houses (own title), 662 vacant land plots, and 33 sectional title units, Vredenburg provides a diverse range of options for homeowners and investors.
According to CMAinfo data, the Vredenburg residential property market experienced a slight decrease in overall sales activity from 2023 to 2024. Total sales (registrations) declined from 220 in 2023 to 205 in 2024, representing a 6,8% reduction. However, the total Rand value of these transactions saw a marginal decrease of 2,1%, moving from R171 743 623 in 2023 to R168 131 777 in 2024. This indicates a relatively stable market with consistent average property values despite fewer transactions.
On a monthly basis, Vredenburg recorded an average of approximately 18.3 property sales (valued at R14.3 million) in 2023, which adjusted to around 17.1 properties (valued at R14.0 million) per month in 2024.
1.1 Own Title Market (Houses):
The own title market in Vredenburg, the largest segment, saw a small dip in sales volume but maintained its overall value. In 2024, 188 houses were sold for a total value of R154 727 777, compared to 198 houses worth R152 958 873 sold in 2023. This marks a 5.1% decrease in the number of sales but a 1.1% increase in total Rand value, suggesting a slight appreciation in average house prices.
The average price per house (own title property) in Vredenburg increased by 6,5% from R772 519 (2023) to R823 020 (2024). If one however compares it with the average price achieved in 2014 (according to Lightstone) of R520 000, then it relays to a capital growth of 58,3% for houses (own title) during the last decade – at an average of 5,8% per year.
1.2 Sectional Title (Apartments):
The sectional title market in Vredenburg remains a very limited segment, with only 33 units in total. Both 2023 and 2024 recorded a single sale in this category. In 2024, 1 sectional title unit was sold for R725 000, a slight decrease from the R750 000 recorded for 1 unit in 2023. This highlights the niche nature of this market within Vredenburg.
1.3 Vacant Land (Plots):
The vacant land market in Vredenburg experienced a notable decrease in sales activity from 2023 to 2024, alongside a decrease in total value. In 2024, 16 vacant land plots were registered for a total value of R12 679 000. This is a significant drop from 21 plots worth R18 034 750 sold in 2023. The 23,8% decrease in the number of sales was accompanied by a 29,7% decline in total Rand value for vacant land, indicating a decrease in average plot prices for the period.
2. Sales per Vredenburg Suburb (2024)
According to CMAinfo data, here's an overview of the property market within specific Vredenburg suburbs during 2024, ordered by the average price achieved in each property type.
2.1 Own Title - Houses:
The own title market in Vredenburg displayed varied average prices across its suburbs in 2024:
- Vredenburg (Main Suburb): Recorded the highest average price with 83 house sales totalling R122 695 000, resulting in an average price of R1 478 253 per sale. The highest priced home sold for R2 795 000 at 3 Groenkloof Street.
- Louwville: Experienced 43 house sales with a combined value of R21 459 254, averaging R499 052 per sale. The top sale was R980 000 for 38 Bougainvillae Avenue.
- Witteklip: Saw 40 house sales totalling R7 708 600, achieving an average price of R192 715. The highest priced home sold for R650 000 at 44 Chikapa Street.
- Ongegund: Registered 22 house sales with a combined value of R2 864 923, leading to the lowest average price of R130 224 per sale. The highest price achieved was R260 000 for 21 Chroom Street.
- Marais Industries: No recorded own title sales in 2024.
2.2 Sectional Title – Apartments:
- Vredenburg (Main Suburb): Recorded the only sectional title sale in 2024, with 1 unit sold for a value of R725 000. The unit was located at Unit 28 Northwest Village, 9 Dorp Street.
- Louwville, Witteklip, Ongegund, Marais Industries: No recorded sectional title sales in 2024.
2.3 Vacant Land:
The vacant land market in Vredenburg also showed varied average prices in 2024:
- Marais Industries: Recorded 1 vacant land sale with a total value of R1 695 000, resulting in the highest average price of R1 695 000. The plot was 4 Perlemoen Road.
- Vredenburg (Main Suburb): Experienced 12 vacant land sales totalling R9 895 000, leading to an average price of R824 583. The highest price achieved was R2 695 000 for 15 Strelitzia Street.
- Louwville: Saw 2 vacant land sales with a combined value of R949 000, averaging R474 500 per sale. The top sale was R750 000 for 78 Hoof Street.
- Ongegund: Registered 1 vacant land sale with a total value of R140 000, which is also its average of R140 000. The plot was 81 Saartjie Bartman Street.
- Witteklip: No recorded vacant land sales in 2024.
This report highlights Vredenburg's consistent nature as a residential property market, characterized by a slight cooling in overall sales volume but a stable total Rand value for own title properties. The vibrant own title market continues to dominate, while the limited nature of sectional title and the recent decline in vacant land sales underscore the market's specific dynamics.