Situated 98 kilometers north of Kimberley, Jan Kempdorp is a small agricultural town which is mainly supported by the Vaalharts Irrigation Scheme, one of the largest irrigation schemes in the world. Today it has become a much-loved destination that is gaining popularity as a tourist destination. If you would consider buying a property in this town, here is what data from Lightstone Property revealed about the small town’s property market.
The data indicates that 56% of existing homeowners in Jan Kempdorp have been in their homes for eleven and more years; 11% have been in their homes for eight to ten years, 26% for five to seven years, with 7% having owned their properties for less than five years.
Out of the homeowners who recently sold their properties, 58% were in their homes for eleven or more years, 3% for eight to ten years, 14% for five to seven years, and 25% for less than five years.
Age of owners
Lightstone’s data also revealed the age of property owners in Jan Kempdorp and the following were the stats, for the period of February 2018 to January 2019. Amongst stable owners, 34% of homeowners were pensioners; 33% were in the 50 - 64 age group bracket; 28% in the 36 - 49 age group bracket, with only 6% of owners being youth - 18 - 35 years old. In the segment of recent buyers, 7% of new homeowners were pensioners, 25% in the 50 - 64 year age bracket, 42% were middle-aged, with 27% being millennials. The data showed that 23% of recent sellers were pensioners, 40% aged fifty to sixty-four, 27% middle-aged, while 10% were millennials.
The most popular property types
As expected the most common property type in Springbok are freehold properties. Over the last 12 months, a total of 18 freehold properties were sold. There is also a small number of real estates. This shows that there is an opportunity for affordable real estate developments in the small town.
Home price growth
The data shows that in 2017 home prices were at their highest, and went down slightly over the past year. Property prices were the lowest in 2010 and 2011. It’s not yet clear were 2019 is headed, but the market should perform more or less as it did in 2018.
Number of registrations
Compared to 2017, the number of registrations for freehold properties went up considerably in 2018, totaling twenty registrations. The number of recorded registrations were the lowest in 2009 but gradually went up from 2010 to 2012, before slightly dipping again in the course of the following years.
Popular neighbourhoods for buyers
If nesting in this small Northern Cape treasure sounds like a wonderful idea. The suburbs you can consider include Andalusia Park, Jan Kempdorp, Jan Kempdorp Ext 5, Jan Kempdorp Ext 6, and Valspan.