Onverwacht Suburb in Strand - Affordable Suburban Living With Homes Priced Below R2 Million
Category Local Market Analysis
Onverwacht is located in the Strand between the railway line on the western side and Vredenhof Road on the eastern side. It stretches from Broadway Boulevard (south) to Altena Road (northern border).
The Onverwacht suburb offers a convenient suburban lifestyle due to its close proximity to most amenities. For families the close proximity to high and primary schools as well as crèches is very appealing. The Twin Palms Centre is within a few hundred meters from all the suburb’s homes – whilst Strand beach, two Virgin Active Gyms and Strand Golf Club are all located within 5 kilometres from the suburb.
The area in and around Onverwacht boasts with beautiful mountain views, ample public open spaces for doggie walks or just strolling or jogging. The suburb has a very homely feel to it – with wide roads and erven sizes larger than in the older parts of Strand. It is a fairly quiet suburb as only 2 roads are leading into the suburb.
Amenities In & Around Suburb.
Strand High School is located in the adjacent suburb of Goedehoop (1,6 km away / 20 min walk) whilst Lochnerhof Primary school is 1,6 km away (in Strand North) and Hendrik Louw 1,8 km (in Strand Central). The Loreto Primary School – a Catholic School - is just 2 km away.
There are a variety of creches available in and around the suburb – with the Die Roosknoppies (in adjacent suburb of Twin Palms the closest. Other well-known creches within 2 km are Bugz4Life, Lochieland, Sprokiesland, Helderberg Kids en SpeelKasteel nursery, pre-primary and after school facility probably the most well-known ones.
A variety of private schools are also available in the area – including Reddam House Somerset (4 km), Somerset House Preparatory (5,4 km), Curo Sitari Independent School (11 km), False Bay High School (1,3km) and Somerset College (12 km).
The Somerset Mall regional shopping centre with 200 shops is 4,5 km away and The Sanctuary Shopping Centre - which includes a Woolworths, Pick & Pay and a variety of eateries as well as a Virgin Active Gym, is 3,8 km away. The Gants Virgin Active Gym is only 2,9 km from Onverwacht. The Southside Centre with a OK Food Store, an after hour pharmacy, doctor rooms and a variety of take-away food shops such as KFC, Debonairs etc. is a mere 1,5 km down George Street.
4 Petrol filling stations are located close to Onverwacht – Caltex Broadway Boulevard (1,4 km away & next to a Burger King), Total Strand with a 24 Hour McDonalds (1,6km), B.P Helderberg (1,8 km) and Caltex Careno 1,2 km away.
Strand S.A.P.S (Police) are 1.1 km away and Strand Fire Station a few hundred meters from all homes in Onverwacht.
The Busamed Paardevlei Private Hospital and the adjacent Somerset West Cure Day Clinic are 4,5 km from Onverwacht.
The average household income range is according to Lightstone between R45 000 to R55 000 - which falls into the LSM 9 High with a total of 1 189 adults living in Die Bos (Onverwacht).
The period or tenure of ownership, which is a measure of ownership stability, shows that about 62 % of the existing owners have been owning for 11 or more years, about 5% between 8 to 10 years, about 12% between 5 to 7 years and 22% for less than 5 years.
The age profile of the stable owners in Onverwacht suburb is about 18% (older than 65 years), 45% (50 to 64 years), 32 % (36-49 years) and 5% (35 and younger). The recent buyers’ age profile is a fairly young one – with 44% (18-35 years), 30% (36-49 years), 22% (50-64 years) and only 4% (65 and older).
The Onverwacht (Die Bos) suburb in Strand consist of 462 own title or freehold houses which constitutes for 93.33% of the market, 16 freehold houses in estates (3.23%), no sectional title property in estates (0%) and 17 sectional title property outside of estates (3.43%). Onverwacht is an established suburb which has long reached maturity – with only 10 vacant land sales transaction taking place during the last 11 years.
Property Market Sales
19 Houses and apartments were sold (registered) in Onverwacht suburb during the last 12 months (September 2017 to August 2018) – of which 4 transfers took place in the last 3 months. 18 Sales were freehold properties and 2 were sectional title sales. 0 Erven (vacant land) was transferred in the last 12 months and there have been 2 sales in execution during 2017 and 1 for the year up to August 2018.
If one however only take 2018 registered sales figures into consideration, then total registered property sales in Die Bos (Onverwacht) for the first 8 months of 2018 has dropped with about 51% relative to property sales achieved during 2017. Only 9 registered sales took place up to August 2018 - 2 sectional title properties (e.g. apartments) and 7 freehold properties (houses) – which relays to about 1.125 properties sold on average per month or 13.5 properties on an annual basis.
That is quite a big drop in sales relative to the average property sales achieved during the last 8 years since 2011 when the property market in South Africa came out of the property market correction of 2009. Between 2011 and 2017, an average of 27.6 properties sold per month in the Onverwacht (Die Bos) suburb.
There were in 2017 32 house sales – i.e. 2.66 houses sold per month relative to the 2.33 houses sales per month during 2016 (28 sales for the year).
Median prices achieved for Onverwacht freehold properties has during the last 10 years grown from R800 000 (2009) to R1 200 000 (2018) – i.e. a growth of 50% or about 5% per year. Median prices has however dropped during 2018 from R1 490 000 (2017) to R1 200 000 (Aug 2018) – i.e. a drop of 19.46%.
Author: Lightstone / Benhard Wiese