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A look at the Hout Bay Property Market with Michael Bester & Andrew Poole

A look at the Hout Bay Property Market with Michael Bester & Andrew Poole | Let's Talk Cape Town | Tyson Properties

Residential Hout Bay Agents Michael Bester and Andrew Poole have both enjoyed life in the Bay and all it has to offer since 2010.

We know Hout Bay and many of it’s wonderful residents well and enjoy being in a position to assist in the buying and selling of homes in this unique community. Unlike many other neighborhoods, the people of Hout Bay are both protective and proud of our village and it is a privilege to live and work within this beautiful Southern-most tip of the Atlantic Seaboard that we call home.”

“As we both also work in other Atlantic Seaboard Areas we often have the opportunity to migrate buyers across by demonstrating the lifestyle benefits and value offering which Hout Bay provides. Some clients are initially resistant to buying in Hout Bay mainly due to a misconception and misinformation relating to crime in the area. We work hard to address these misconceptions and always make sure that we highlight the value on offer, as well as the excellent community safety initiatives, which have made Hout Bay a safer destination to frequent and to live in”.

The Tyson Team have enjoyed great success in Hout Bay and much of this can be attributed to the way in which they go about their business.

We believe in building long relationships based on trust and integrity and are aware of the importance of not over-promising and under-delivering. We believe in setting realistic, achievable goals and providing feedback each step of the way. Hard work and perseverance are, of course, also the cornerstones of any successful business”.

The Hout Bay property market, as with all areas, has taken a bit of a knock since the highs of 2017, with the average property sales price being down by about 12% at the end of last year and the low end of the market (sub R4mil.) being a lot less affected than the high end. Hout Bay, particularly in the low end, has been less affected than some other areas on the Atlantic Seaboard and City Bowl, due to the fact that there was already good value here and prices weren’t as over-inflated. The current value proposition offered in Hout Bay, paired with significantly lower interest rates, has resulted in an increase in demand across all price points. Over 70% of recent sales have been below R4mil., but there has also been significant activity above this. The idea that COVID-19 has caused a significant drop in pricing is simply untrue. According to PropStats the average property sales price for 2020 is up by about 2,5% as compared to 2019.

We like to demonstrate these trends to homeowners and Sellers enabling them to price realistically and correctly in the current market”.

Our favorite home in the security estates, which we are exclusively mandated to sell, is perched high up in Avignon Estate. The home is by far the nicest property that we have had the privilege of selling in the Estate. The elevation offers incredible views of the bay and surrounding mountains and the home offers five bedrooms, including a guest suite. This pristine home is priced for the current market and is ideal for a family who enjoy entertaining.”

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Get in touch with Michael Bester or Andrew Poole.

Michael Bester
083 488 0484
[email protected]
Andrew Poole
082 859 1710
[email protected]
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