Charm and heritage in Wynberg Upper continues to attract buyers
Category Property news
Propstats indicates that the average selling price of sectional title properties in Wynberg Upper rose to R1 196 885 over the past 12 months, compared to the R910 769 recorded for the previous 12 months.
Demand is at an all-time high and average listing times have also dropped dramatically; free-standing homes are spending an average listing period of 25 days, compared to 117 days on average for the previous year. Sectional title properties are also spending less time on the market, although historically, these sell faster. Across the board, the average asking price of sectional title and free-standing properties is currently only around 4% higher than the average selling price, and this has narrowed from a previous differential of around -7%.
Ambiance is a selling point
He says that for many, the appeal of Wynberg lies in its history.
Originally farmland, Wynberg became a garrison town when the British took control of the Cape in 1795. As a convenient halfway point between Table Bay and False Bay, the district ultimately became a centre of commercial activity.
Many of the original structures still stand today and Wynberg is in fact home to the highest concentration of historical buildings in South Africa, hence the declaration of Wynberg Village as a conservation area in 1981.
Wynberg’s timeless charm revolves around the Old Village with its chic boutiques, galleries, decor showrooms, coffee shops and restaurants, and the natural and thespian delights of Maynardville, which springs to life in summer with its annual offering of Shakespeare and ballet under the stars.
“Wynberg has always fiercely guarded its proud heritage, but over the years the suburb became a little frayed around the edges, and property values began to slide, but thanks to a massive clean up effort by the Wynberg Improvement District, there has been something of a rebirth and the current market is proof,” says Greeff. The streets are cleaner and there’s a higher level of security thanks to the presence of a private security company which works closely with the SAP.
Varied types of eligible property
Demand for rentals is high in Wynberg and these can vary hugely, as does the type of property in the suburb. Properties in Wynberg Upper vary from one and two-bedroomed apartments to Victorian semis and large, gracious family homes. Sectional title apartments can yield a rental ranging from around R6 000 to R15 000 per month depending on the block, according to Greeff Rentals Area Specialist, Jane Lockhart. “Free-standing homes can vary from R15 000 for a semi to R35 000 for a gracious five-bedroom family home. It’s very much dependent on the nature and condition of the property,” says Lockhart, who has a waiting list of interested tenants.
Greeff is currently selling a number of Wynberg properties ranging from R550 000 for a one-bedroom apartment to R5 850 000 for a six-bedroom heritage thatch in the heart of Chelsea Village. Enquiries can be directed to:
Lana Holt
071 035 9458
lana@greeff.co.za.
www.greeff.co.za
With National Monument status, Winthrop House dates back to 1830 and is one of the oldest houses in the historical centre of Wynberg. It originally served as a military base but came into the possession of the Grossouw family from 1921-1985. The property was recently sold by Greeff Properties for R4.2 million, after being listed for just two weeks
Author: Greeff
