Gordon's Bay Residential Property Market Shows Strong Growth in Rand Value in 2024

Gordon's Bay Residential Property Market Shows Strong Growth in Rand Value in 2024

The Gordon's Bay residential property market experienced a dynamic and robust year in 2024, demonstrating significant growth in total Rand value despite a slight decrease in the number of overall transactions. This coastal gem continues to attract buyers, reinforcing its appeal within the Western Cape and provided good capital growth in terms of higher average prices across all 3 residential property types.

Comparison between 2023 and 2024's residential property sales

Total annual sales (registrations) in Gordon's Bay saw a marginal decrease of 0.85%, dropping from 709 sales in 2023 to 703 in 2024. However, the total Rand value of these transactions experienced a substantial surge of 6.95%, climbing from R1.04 billion in 2023 to R1.11 billion in 2024.

Gordon's Bay's property market averaged approximately 59 units sold per month in 2024, valued at R92.85 million – basically the same monthly sale volumes as in 2023.

• The average price per own title property (house) increased by 3,2% from R2 426 326 in 2023 to R2 504 456 in 2024.
• The average price per sectional title property increased by 9,2% from R958 815 (2023) to R1 047 024 (2024).
• The average price for vacant land (plot) increased by 19,9% from R1 390 077 (2023) to R1 667 353 (2024).

1.1 Own Title Market (houses):

In 2024, Gordon's Bay recorded an increase of 2.5% in the number of house sales, with 245 houses sold for a total value of R613.59 million. This represents a significant 5.81% increase in total Rand value compared to the 239 houses worth R579.89 million sold in 2023. Throughout 2024, an average of approximately 20.42 house sales occurred per month at an average price of R2.5 million per house.

1.2 Sectional Title (apartments):

Gordon's Bay experienced a decrease of 4.5% in apartment sales, with 424 sectional title units (apartments) sold for a total value of R443.94 million during 2024 – in comparison to 2023’s 444 units worth R425.71 million. Despite the drop in volume, the total Rand value for sectional titles increased by 4.28%. This translates to about 35.33 apartment sales per month at an average sales price of R1.05 million per unit.

1.3 Vacant Land (plots):

34 vacant land plots to the value of R56.69 million were registered during 2024 – in comparison to 2023’s 26 plots worth R36.14 million. This equates to approximately 2.83 plot sales per month at an average sales price of R1.67 million per plot, representing a substantial increase of 4.5% in volume and 56.88% in value.

Sales per Gordon's Bay Suburb (Own Title - Houses)

According to CMAinfo data, here's an overview of the own title (house) market within specific Gordon's Bay suburbs during 2024, ordered by average price achieved:

• Gordon Heights: Achieved the highest average price of R4 850 000 from 3 house sales totalling R14 550 000. The highest priced home sold for R6 800 000 at 15 Rhus Street. The lowest priced home sold for R2 950 000 at 10 Rhus Street.
• Harbour Island: Averaged R4 378 571 from 7 house sales totalling R30 650 000. The highest priced home sold for R6 000 000 at 13 St Martins Lane. The lowest priced home sold for R2 300 000 at 14 San Juan Close.
• Gordon's Bay Village: Averaged R3 958 938 from 11 house sales totalling R43 548 320. The highest priced home sold for R5 700 000 at 108 Miller Street. The lowest priced home sold for R2 500 000 at 55 Miller Road.
• Antilles & Cayman Beach: Averaged R3 675 200 from 4 house sales totalling R14 700 800. The highest priced home sold for R5 750 000 at 5 Antilles Road. The lowest priced home sold for R2 650 000 at 32 Cayman Beach Road.
• Mountainside: Averaged R3 468 750 from 8 house sales totalling R27 750 000. The highest priced home sold for R4 250 000 at 22 Grens Road. The lowest priced home sold for R2 300 000 at 18 Ryger Street.
• Mountainside Estate: Averaged R2 856 190 from 21 house sales totalling R59 980 000. The highest priced home sold for R5 250 000 at 13 Strelitzia Street. The lowest priced home sold for R1 775 000 at 10 Strelitzia Street.
• Dobson: Averaged R2 726 250 from 12 house sales totalling R32 715 000. The highest priced home sold for R6 000 000 at 5 Devon Road. The lowest priced home sold for R2 125 000 at 185 Lancaster Road.
• Bay Park: Averaged R2 140 000 from 6 house sales totalling R12 840 000. The highest price achieved was R2 750 000 at 17 Melkboom Close. The lowest priced home sold for R1 650 000 at 26 Assegaai Crescent.
• Gordon Strand Estate: Averaged R2 138 077 from 13 house sales totalling R27 795 000. The highest priced home sold for R3 150 000 at 78 Lancaster Road. The lowest priced home sold for R545 000 at 7 Robina Road.
• Sea Breeze: Averaged R2,066,100 from 15 house sales totalling R30,991,500. The top sale was R2,625,500 at 2 Bay Village. The lowest priced home sold for R1,250,000 at 57 Durmonte Crescent.
• Fairview Golf Estate: Averaged R1 836 042 from 24 house sales totalling R44 065 000. The highest priced home sold for R2 975 000 at 23 Pebble Beach Close. The lowest priced home sold for R1 000 000 at 8 Wairakei Close.
• Gordon's Bay Central: Averaged R1 803 478 from 23 house sales totalling R41 480 000. The highest price achieved was R2 500 000 at 163 Clementine Crescent. The lowest priced home sold for R1 100 000 at 68 Harbour Park.
• Winslow: Averaged R1 700 000 from 1 house sale totalling R1 700 000. The property was located at 22 Milnerton Road.
• Anchorage Park: Averaged R1 647 500 from 14 house sales totalling R23 065 000. The highest price achieved was R2 350 000 at 4 King Fisher Close. The lowest priced home sold for R1 100 000 at 6 Paradise Close.
• Admirals Park: Averaged R1 636 019 from 27 house sales totalling R44 172 500. The highest priced home sold for R2 890 000 at 30 Seeteufel Crescent. The lowest priced home sold for R697 500 at 47 Tony Crescent.
• Onverwacht: Averaged R1 616 174 from 23 house sales totalling R37 172 000. The top sale was R2 875 000 for 35 Olienhout Street. The lowest priced home sold for R875 000 at 23 Assegaai Crescent.
• Pine Acres: Averaged R1 581 857 from 9 house sales totalling R14 236 713. The top sale was R3 000 000 for 23 Marcus Crescent. The lowest priced home sold for R700 000 at 24C Sir Lowrys Estate.
• Temperance Town: Averaged R975 000 from 2 house sales totalling R1 950 000. The highest priced home sold for R1 550 000 at 1 Aldrin Street. The lowest priced home sold for R400 000 at 5 Mountainside Street.

Sales per Gordon's Bay Suburb (Sectional Title - Apartments)

According to CMAinfo, during 2024 the following sectional title sales were realized within specific Gordon's Bay suburbs, ordering the suburbs from the highest to the lowest in average price achieved:

• Harbour Island: Averaged R2 818 632 from 19 sectional title sales totalling R53 554 000. The highest priced unit sold for R7 900 000 at Unit 19, St Tropez, St Croix Dr. The lowest priced unit sold for R1 249,000 at Unit 52 [48], Montego Bay.
• Gordons Bay Village: Averaged R1 743 859 from 22 sectional title sales totalling R38 364 893. The highest priced unit sold for R5 500 000 at Unit 15, The Gordonia, 8 Gordonia Rd. The lowest priced unit sold for R18 000 at Unit 31, The Gordonia, 8 Gordonia Rd.
• Gordon Strand Estate: Averaged R1 458 000 from 5 sectional title sales totalling R7 290 000. The highest priced unit sold for R1 600 000 at Unit 30 [5] Silversands, 159 Faure Marine Dr. The lowest priced unit sold for R1 300 000 at Unit 28 [7] Silversands, 159 Faure Marine Dr.
• Antilles & Cayman Beach: Averaged R1 375 000 from 4 sectional title sales totalling R5 500 000. The highest priced unit sold for R1 800 000 at Unit 23, Nagua Bay One, Antilles Road. The lowest priced unit sold for R1 120 000 at Unit 26, Nagua Bay One, Antilles Road.
• Firlands: Averaged R957 199 from 180 sectional title sales totalling R172 295 782. The highest priced unit sold for R1 570 000 at Unit 1584 Greenbay. The lowest priced unit sold for R559 532 at Unit 532 Greenbay.
• Gordons Bay Central: Averaged R948 697 from 76 sectional title sales totalling R72 101 001. The highest priced unit sold for R1 700 000 at Unit 25, Summervale, Lemoenboom Rd. The lowest priced unit sold for R233 300 at Unit 4206 & 5001, Crystal Creek Disa Rd.
• Mountainside Estate: Averaged R900 286 from 7 sectional title sales totalling R6 302 000. The highest priced unit sold for R1 062 000 at Unit 97[2] Unit 110 Baywatch Terraces. The lowest priced unit sold for R690 000 at Unit 73[47] Baywatch Terraces.
• Fairview Golf Estate: Averaged R850 551 from 39 sectional title sales totalling R33 171 500. The highest priced unit sold for R2 525 000 at Unit 59, Fairview Golf Village. The lowest priced unit sold for R510 000 at Unit 158, Fairview Golf Village.
• Admirals Park: Averaged R847 000 from 30 sectional title sales totalling R25 410 000. The highest priced unit sold for R950 000 at Unit 38, Seascape Mews. The lowest priced unit sold for R800 000 at Unit 67, Seascape Mews.
• Onverwacht: Averaged R781 667 from 3 sectional title sales totalling R2 345 000. The highest priced unit sold for R830 000 at Unit 18[39], Unit 32 Ambleside. The lowest priced unit sold for R720 000 at Unit 22 [43] Unit 26 Ambleside.
• Sea Breeze: Averaged R711 094 from 32 sectional title sales totalling R22 755 000. The highest priced unit sold for R980 000 at Unit 6 [V2] & Unit 21 Sea Breez Park. The lowest priced unit sold for R330 000 at Unit 153 Gordon Villas, 10 Cornwall Close.
• Anchorage Park: Averaged R692 714 from 7 sectional title sales totalling R4 849 000. The highest price achieved was R760 000 at Unit 25, La Casa, 48 Mariners Way. The lowest priced unit sold for R570 000 at Unit 45, Mariners Place, 1 Buccaneer Ways.

This report highlights the ongoing appeal of Gordon's Bay as a residential property destination in 2024. While the overall number of transactions saw a slight dip, the substantial increase in total Rand value and a notable rise in own-title sales volumes demonstrate the underlying strength and growth of the market. The sectional title sector, while seeing fewer transactions, also contributed positively to the total value, indicating sustained demand for diverse property types in this sought-after coastal town.

Considering a property transaction in Gordon's Bay? Our local resident sales agents are ready to assist. CCH has actively marketed property in the area since 2006, establishing one of the largest market shares in town.