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Myburgh Park suburb in Langebaan - well-established and upmarket

Category Local Market Analysis

Myburgh Park

Myburgh Park suburb in Langebaan is a well-established and upmarket residential suburb with beautiful hillside views. Myburgh Park consist of 1 095 own title or freehold houses and 40 sectional title properties. The average municipal own title valuation is R1 578 087 and for sectional title R770 263.

Location

It is located on the south side of Langebaan. near the entrance to the West Coast National Park. The larger part of the lagoon is viewed from Myburgh Park, properties with views are more sought after and in high demand by buyers looking for a holiday or retirement home.

The suburb borders runs from Oostewal Road (close to Langebaan Yacht Club) along Sunbird Drive right up to Albatros Road. Harpuisbos and Claudata Streets forms the border with Mid Town Langebaan, whilst Park Street connects Myburgh Park with The West Coast National Park. 

Lifestyle Offerings

The famous Farmhouse Hotel is a landmark in the area and offers world class accommodation. The hotel overlooks the yacht club that provides mooring for the residence boats, the club is also very popular with the locals and visitors alike and is one of the main attractions of the area as it gives direct access to the Langebaan Lagoon.

Myburgh Park also provide the life style for the more active person as bicycle and roadrunners often use some of the long stretches of roads. Access to the lagoon can be found along Shark bay and used for all sort of water sports.  

Amenities

Laguna Mall is 8,9 km from Myburgh Park and the Langebaan Country Club 2,3 km.

Other closest amenities include the Gerimed Sub-Acute Care & Frail Care Centre, The Sea Breeze Medical Centre (3,4 km), Langebaan Primary School (4,8 km), Topoline Private School, Curro Private School (10 km).

A large active NG Church is situated in the area and is also a beacon in the area. A variety of retail and commercial shops is within 3 km from Myburgh Park in Langebaan Mid-Town (including a SPAR 2,7 km).

Owner profile

The average household income range is according to Lightstone between R51 000 and R67 000 – LSM10High.

The period or tenure of ownership, which is a measure of ownership stability, shows that about 40% of the existing owners have been owning for 11 or more years, about 24% between 8 to 10 years, about 15% between 5 to 7 years and 21% less than 5 years.

The age profile of the stable owners is about 20% (older than 65 years), 40% (50 to 64 years), 33% (36-49 years) and 7% (35 and younger). Recent buyers’ age profile is 10% (18-35 years), 45% (36-49 years), 37% (50-64 years) and 8% (65 and older).

Property Market

Myburgh Park is a suburb with large modern houses which can range up to R20 million. There are not many flats and townhouse complexes in the Myburgh Park suburb, making these types of properties very popular when available. 

45 Full title properties were transferred between May 2013 and April 2014 – of which 16 were erfs. 14 Erfs sold at an average price of R542 000 (only 2 erfs sold for below R400 000 and at an average price of R340 000). 29 Houses sold at an average price of R1,756 million. 7 Houses was priced between R800 000 and R1,5 million and 19 between R1,5 million and R3 million. One house was sold for R4,55 million.

The average number of annual full title transfers between 2006 and 2013 has been about 64 per year – with 51 being effected in 2013 and 12 up to April 2014.

The average price has seen an increase of 35,2% between lower end of the property cycle 2009 (R1 159 000) and 2013 (R1 567 000). Total value of transactions in 2013 in the property market has been R53,244 million – 24% below 2012’s R70,173 million and 42% below of the top end of the property cycle in 2007 (R95,942 million). Good news for price stability and future growth is that there were only 2 sales in execution during 2013 against respectively 5 and 5 during 2010 and 2011.

New developments are planned for the area with a new main road that will give access to the upper part of Myburgh Park from the town centre is to be build. Most of the planning is in an advantage stage. These developments will add more value to the area and provide for the ever growing demand for property in this area.

For more information about the available properties within Myburgh Park in Langebaan, please contact our member agents or visit our website to view the choice of properties available at present in the suburb.

Author: Benhard Wiese

Submitted 02 Jun 14 / Views 6044

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