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The Cove in Langebaan – Living Between a Lagoon and a Golf Course

Category Local Market Analysis

The Cove in Langebaan is a well-established and upmarket residential estate with beautiful sea and Langebaan lagoon views. The Cove in Langebaan consist of 59 own title or freehold houses – there are no sectional title properties (apartments) in the suburb.

Location

The Cove is located on the northern side of Langebaan and is bordered by The Waterfront Estate to the North, the Leentjiesklip suburb to the South and Langebaan Country Estate on the inland or eastern side.

Pelican Street is the only access road to The Cove from Hoof Street going pass the Langebaan Country Estate towards the central part of Langebaan.

The Cove suburb is conveniently located - close to the central business district of Langebaan, the Laguna Mall and the main beach on the Langebaan lagoon where water sport such as kite surfing and sailing is the main attraction.

Lifestyle

If you are someone who prefer a quiet and peaceful area to stay where you can hear the waves break all the time, you will love The Cove. Living here gives you the feeling of being on holiday the whole year round. The small protected bay in front of the Cove in Langebaan lagoon provides excellent and safe swimming conditions for the whole family. Kite surfing, windsurfing and all other water sport and beach activities becomes part of your life.

Amenities

The Langebaan Main Beach is a mere 3,2 km from The Cove suburb. The Langebaan Country Estate golf course is located right opposite to The Cove suburb.

The 2 most well-known restaurants in Langebaan are also very close to The Cove - Boesmanland Plaaskombuis (2,3 km) and Die Strandloper (2,4 km), whilst the Club Mykonos Resort (with a variety of eateries) is 2,9 km away.

Schools: The Langebaan Primary School is 2 km from The Cove, Topoline Private Primary School 4,4 km and the Curro Langebaan Independent School is 3,7 km from The Cove.

Shopping Centres: The Bay Shopping Centre is 2,3 km away, Koewheni Shopping Centre (3 km) while Laguna Mall is a mere 2,6 km away.

Two petrol filling stations is close by - Total (3 km) and the Caltex filling station in Langemeer is only 1.82 km away. The Langebaan S.A.P.S (Police) is situated 3.35 km from The Cove.

Owner profile

The average household income range is according to Lightstone between R35 000 - to R45 000 - which falls into the LSM 9 low with a total of 29 adults.

The period or tenure of ownership, which is a measure of ownership stability, shows that about 54% of the existing owners have been owning for 11 or more years, about 9% between 8 to 10 years, about 13% between 5 to 7 years and 24% less than 5 years.

The age profile of the stable owners is about 21% (older than 65 years), 53% (50 to 64 years), 24% (36-49 years) and 3% (35 and younger). Recent buyers’ age profile is 0% (18-35 years), 100% (36-49 years), 0% (50-64 years) and 0% (65 and older).

Property Market

3 Properties sold between July 2016 and June 2017. Only 1 full title property (house) was transferred priced R 3 950 000. 2 Erfs (vacant land plots) were sold for respectively R285 000 and R650 000 each.

The average number of annual property transfers between 2010 and 2016 have been 2 erfs (vacant land) and about 3 houses per year.

A very strong growth in the median prices of homes in The Cove suburb have been experienced since 2010 – increasing from R1 125 000 in 2010 to R 3 900 000 in 2016 which can be converted into a growth of 160 % or 26,7% p.a. Median prices growth achieved between 2010 and 2016 for vacant land has however only been R68 000 – that is 11,3% or 1,88 % p.a.

The total value of property sales transactions in the period July 2016 to June 2017 has been R4,88 million.

For more information about the properties for sale within The Cove suburb in Langebaan, please contact our member agent Danie Mulder (danie@cch.co.za / 082 493 5421).

Author: Lightstone / J. Procter

Submitted 11 Jul 17 / Views 2226

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