Lightstone Provides Insight On Purchasing Trends In Mossel Bay
Following on the recent release from Good Governance Africa (GCA) that Mossel Bay located in the Western Cape is named as the best run municipality in South Africa, Lightstone, the company which provides analysis to evaluate trends and segmentation within the property sector, provides insight on some of the unique selling points in the coastal town.
Mossel Bay’s demographic consists of 54 406 adults with an average income of between R240 000 – R340 000 per annum and a LSM of seven to eight with the largest group of homeowners aged between 50 – 64 years. An interesting finding in the dataset reveals that 29% of recent buyers are aged 18 – 35, however this group only consists of 3% stable owners and recent sellers, which may be attributed to the fact that this age group only recently entered the workers force and thus in a financial position to purchase property.
The Lightstone analysis of the town includes the data of 24 8133 properties (freehold, sectional title and estates) and reveals that 15 390 transactions have taken place over the last five years. The value of properties has enjoyed a steady increase in value. Freehold properties is the largest percentage of the property market with 65,9%; followed by estates with 18,92% and sectional title units with 15,1%.
The Lightstone dataset from the period May 2018 to April 2019 revealed that 57% of existing owners retained their property for 11 years or longer and the second largest group made up of 23% has had ownership of properties for less than five years. Owners having property for eight to ten years, and five to seven years make up the remaining 20%, distributed evenly at 10% each.
STREETS AND SUBURBS
Additionally, Lightstone data from the last five years reveals the most expensive streets and suburbs in Mossel Bay; with the highest valued street being Point View in the Pinnacle Point Beach and Golf Estate at an average value of R6, 7 million per property.
|#||Suburb||Street Name||Avg LS value|
|1||Pinnacle Point Beach And Golf Estate||Point View||R 6 703 571|
|2||Diaz Beach||Brandersig||R 6 414 285|
|3||Pinnacle Point Beach And Golf Estate||White Water||R 4 990 000|
|4||Village On Sea||Wildekamfer||R 4 800 000|
|5||Mossel Bay Central||Rodger||R 4 475 000|
|6||Bay View||Stephen van der Westhuizen||R 4 305 555|
|7||Mossel Bay Golf Estate||Azika||R 4 212 500|
|8||Diaz Beach||La Palma||R 4 166 666|
|9||Pinnacle Point Beach And Golf Estate||Sunset||R 4 140 476|
|10||Pinnacle Point Beach And Golf Estate||Lands End||R 4 005 882|
The top estates in the region belong to Brandersig in Diaz Beach, with an average property value of R 5,8 million per property. Second and third spots belong to Moquini Coastal Estate with an average property value of R 3, 9 million and Point Village with an average of R 3, 7 million both of which is located in Mossel Bay:
|#||Suburb||Estate_name||Avg LS value|
|1||Diaz Beach||Brandersig||R 5 875 000|
|2||Moquini Coastal Estate||Moquini Coastal Estate||R 3 980 630|
|3||Mossel Bay Central||Point Village||R 3 741 228|
|4||Village On Sea||Village On Sea||R 3 151 838|
|5||Pinnacle Point Beach And Golf Estate||Pinnacle Point Beach And Golf Reserve||R 3 041 935|
|6||Mossel Bay Central||Linkside||R 2 940 000|
|7||The Island||Island Cove||R 2 825 000|
|8||Mossel Bay Golf Estate||Mossel Bay Golf Estate||R 2 762 090|
|9||Diaz Beach||La Palma||R 2 730 219|
|10||Nature On Sea||Nature On Sea||R 2 708 333|
The incredible value of the properties along with the quality of living will continue to be a draw card for the region as young families look to establish themselves in the coastal town and surroundings.
Lightstone is a provider of comprehensive data, analytics and systems on property, automotive and business assets. Lightstone has access to unique and proprietary data sets which allow it to build sophisticated analytics and spatial models to deploy various technologies to a range of industries. Our analytical, business and industry expertise is paired with our technical excellence to guide clients in managing risk and making business critical decisions. For more information, please visit: