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Langebaan Property Market Report 2020

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Langebaan Property Market Report 2020

Location

Langebaan is a town in the Western Cape Province of South Africa on the Eastern shore of Langebaan Lagoon and right next to the scenic West Coast National Park. Langebaan is situated 120 km north of Cape Town, just off the R27, about 28km from Vredenburg and 20km from Saldanha Bay.

Lifestyle

Langebaan inhabitants are spoilt for choice when it comes to activities and attractions in the region. Water sport enthusiasts can take advantage of the mild climate and the protected and clear waters of the Langebaan Lagoon, which is perfect for kite surfing, windsurfing, wake boarding, tube riding and jet skiing or alternatively to go kayaking, sailing or even enjoy a relaxing boat cruise and fishing.

Those who enjoy a more peaceful lifestyle, or just being in nature, can go strolling on the shore of the Langebaan lagoon or visit the surrounding West Coast National Park, where you can enjoy hiking trails, picnics, game viewing, bird watching and even whale watching. The Postberg area of the West Coast National Park is well known for its spectacular display of flowers between July through to September.

Infrastructure

To protect its culture as a fishing, holiday and retirement village, the town allows no industries inside the town borders. A relaxed resort town atmosphere is enhanced by excellent infrastructure and the commercial centre of Langebaan boasts a variety of shops - with most of the national food and grocery stores represented - including fitness centres, health clubs, medical and healthcare facilities, plus banks, places of worship and other amenities.

The Laguna Mall shopping centre has a wide range of shopping and leisure options and boasts 60 stores and mainstream tenants.

The popular Club Mykonos is located on the shores of the Langebaan lagoon. This Greek themed resort's onsite facilities include tennis and squash courts, sauna, swimming pool, a games room and several restaurants, as well as a casino.

Types of Real Estate available

Some of the most sought-after seafront properties on the West Coast are found on the Lagoon. The Langebaan property market has been identified by property experts as a real estate market with great investment potential, with over 7500 permanent residential properties to be found across the town.

Various types of property are for sale in Langebaan, such as flats or apartments, town houses, houses, security complexes, golf estate property, vacant land or erfs to develop you own home, guest houses, beach front homes, small holdings and farms, as well as older character homes.

New developments in Langebaan

The proximity to Cape Town makes Langebaan a thriving coastal resort town that has always been a firm favourite with holidaymakers and locals alike, who flock to the area in search of prime Langebaan properties. However over the last few years, there has also been a noticeable influx of people from the Northern provinces, which has strengthened the property market in Langebaan and has led to a massive increase in the number of gated estates now under construction, which will result in a significant increase to the latest available data of 6 805 full-title units and 814 sectional title units.

To the south of the town a recent development is Shark Bay, situated between Langebaan's southernmost suburb, Myburgh Park, and the West Coast Park. However, most of the new development is occurring on the northern side of the town, with the old stone quarry site  being developed, with Nivica Apartments currently under construction and Laguna Sands Estate being extended with the now completed Laguna Hills 1 and 2 extensions and with Laguna Heights scheduled for construction in the near future. Just a stone's throw to the north the vacant portion of Laguna Sands Estate is being developed into new, secure estates such as Da Gama, La Pinta, Laguna Lifestyle Village, Plover, Oystercatcher and Sandpiper. In addition, mature lifestyle estates are being developed on Langebaan Country Estate and in Laguna Sands Estate.

If you want to make a property investment, to enjoy a care-free Cape West Coast and country lifestyle, contact the CCH team in the area to learn more about our fine selection of Langebaan property.

Established Suburbs in Langebaan:

Langebaan property for sale includes real estate in suburbs such as Middedorp (Mid Town), which lies nestled on the sandy beaches of the lagoon; Country Club a well-established suburb in the centre of the town and Langebaan Country Estate providing a secure golf estate lifestyle with a variety of upmarket facilities (tennis court, swimming pool, club house etc.); Myburgh Park with its unobstructed views over the Langebaan lagoon; Calypso Beach and Blue Lagoon, which are ideally situated near the beach; Paradise Beach and Aegean Heights which lie close to the famous Club Mykonos resort as well as Laguna Shopping Centre; as well as Long Acres country smallholdings, which lie within the municipal boundary, close to both the beach and the mall.

Langebaan Owner Profile / Demographics.

The average household income range in Langebaan according to Lightstone is R30 000 to R40 000 which average places the owners in the LSM 9 Low Group.

The period or tenure of ownership, which is a measure of ownership stability, shows that the number of existing owners who have owned property for 8 or more years is 51%. This figure is affected by the fact that Langebaan has experienced a period of growth, which is highlighted by the high level of new owners, namely 33% who have owned property for less than 5 years.

The age profile of the stable owners in Langebaan shows that the majority of owners, 44% , fall in the mature age group, (50 - 64 years old), followed by the pensioner group (older than 65 years) at 28% and then the middle aged group (36 - 49 years old) at 25%.

The recent buyers' age profile shows that the average age of a property owner in Langebaan is reducing as the two older age groups of owners (those 50 years and older) equate to 72%, but in terms of recent buyers the total of these two age groups has reduced to 51%, whereas the two middle age groups (those between 36 and 64 years old) now constitute 77% of recent buyers.      

                Recent Buyers           

  • Youth/Adult: (18-35 years) - 13%
  • Middle Aged: (36-49 years) - 35%
  • Mature: (50-64 years) - 42%
  • Pensioner: (65 and older) - 10%

A comparison of the recent seller's data below versus the recent buyer's data above further illustrates that the average age of a property owner is reducing, highlighted by the fact that the pensioner group constitutes just 10% of buyers, while 27% of this group have sold their property.

Recent Sellers

  • Youth/Adult: (18-35 years) - 8%
  • Middle Aged: (36-49 years) - 23%
  • Mature: (50-64 years) - 42%
  • Pensioner: (65 and older) -27%

Langebaan - Property Types

Langebaan properties consist of 3044 freehold properties in estates and 3 762 freehold properties in non-estate residential areas.

In terms of sectional title properties, there are 456 units situated in estates and 358 units situated in non-estate residential areas.

Property Sales In Langebaan

During the last 12 months a total of 295 freehold houses were sold as opposed to 314 in 2019. The year with the highest number of recorded sales was 2017 when 338 units were sold.

During the last 12 months a total of 61 sectional title units were sold, which was one less unit than the number of units sold in 2019. The year with the highest number of recorded sales was 2017 when 118 units were sold.

During the last 12 months a total of 77 freehold vacant plots were sold. The highest number of annual sales for freehold vacant land occurred in 2011 with 235 registrations. This large decrease in vacant land sales can be attributed to the shortage of available land for development as the town has become more built-up. The recent launching of various estates in Langebaan will release more vacant land on to the market.

Average & Top Estate Freehold House Prices

  • Average house price: During the 12 months from January 2020 until end December 2020 a total of 155 freehold houses were sold in estates at an average selling price of R1 941 900. These 155 houses were in the following price brackets, 63 were sold for less than R1 500 000, 66 were sold for between R1 500 000 and R3 000 000 and 26 were sold for more than R3 000 000.

The 3 top prices achieved during this period were 11 Ithaki Close in Calypso Beach (R8 350 000), 2 Turfontein Close in Longacres (R5 000 000) and 777 Morsvalla Way in Langebaan Country Estate (R4 860 000).

Average & Top Non-Estate Freehold House Prices

The 3 top prices achieved during this period were 43 Harpuisbos Street in Myburgh Park (R11 000 000), 2 Noord Road (R8 200 000) and 12 Lagoon Crescent (R8 017 500) both in Middedorp and both situated directly on the lagoon.

Average & Top Estate Sectional Title Unit Prices

  • Average house price: During the 12 months from January 2020 until end December 2020 a total of 9 sectional title units were sold in estates at an average selling price of R1 335 500. These 9 units were in the following price brackets, 7 were sold for less than R1 500 000 and 2 were sold for between R1 500 000 and R3 000 000.

The 3 top prices achieved during this period Perkjit Village 10 (R 1 650 000), Perkjit Village 16 (R1 625 000) and Perkjit Village 26 (R1 500 000) all in Langebaan Country Estate.

Average & Top Non-Estate Sectional Title Unit Prices

  • Average house price: During the 12 months from January 2020 until end December 2020 a total of 25 units, not situated in estates, were sold at an average selling price of R1 132 300. These 24 units were sold in the following price brackets, 4 were sold for less than R800 000, 17 were sold for between R800 000 and R1 500 000 and 4 were sold for between R1 500 000 and R3 000 000.

The 3 top prices achieved during this period were Bay Centre 5, 7 Industrie Close (R3 000 000), Sea View Lodge 4 (R1 590 000) and Sea View Lodge 11 (R1 565 000) both of 46 Main Road and all three were situated in Middedorp.

Average & Top Estate Vacant Land Prices

  • Average vacant land price: During the 12 months from January 2020 until end December 2020 a total of 48 vacant plots in estates were sold at an average selling price of R498 520. These 48 plots were sold in the following price brackets, 17 were sold for less than R400 000, 30 were sold for between R400 000 and R800 000 and 1 was sold for R1 300 000.

The 3 top prices achieved during this period were 17 Newmarket Road in Longacres Estate (R1 300 000), 36 Vogelsanck Drive (R795 000) and 731 Morsvalla Way (R750 000) both situated in Langebaan Country Estate.

Average & Top Non-Estate Vacant Land Prices

  • Average vacant land price: During the 12 months from January 2020 until end December 2020 a total of 29 freehold vacant plots, not situated in estates, were sold at an average selling price of R603 000. These 29 plots were all sold in the following price brackets, 3 were sold for less than R400 000, 21 were sold for between R400 000 and R800 000 and 5 were sold for between R800 000 and R1 500 000.

The 3 top prices achieved during this period were 4 Fulmar Close (R1 000 000) in Country Club, 7 Sanderling Close (R1 000 000) and 34 Heuningbos Close (R850 000), both in Myburgh Park.

Capital Growth in Langebaan

Median prices and capital growth for freehold homes achieved:

  • Langebaan's median prices for freehold homes has during the last 10 years grown from R910 00 in 2010 to R1 775 000 in 2020 - i.e. a growth of 95.0% over the period or a compound growth rate of 6.9% per year

Median prices and capital growth for sectional title units achieved:

  • Langebaan's median prices for sectional title units has during the last 10 years grown from R374 000 in 2010 to R570 000 in 2020 - i.e. a growth of 52.4.0% over the period or a compound growth rate of 4.3% per year.

Median prices and capital growth for vacant land achieved:

  • Langebaan's median prices for vacant land has during the last 10 years grown from R235 000 in 2010 to R505 000 in 2020 - i.e. a growth of 114.9% over the period or a compound growth rate of 7.9% per year.

For more information about the available properties within Langebaan please follow the link to our website

Sources & Author: Lightstone / N van den Heuvel

Author Lightstone / N van den Heuvel
Published 13 Jan 2021 / Views -
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