The substantial number of small and tranquil towns within the Northern Cape makes the province an ideal place for property buyers, from those who might be starting a family, to those who are approaching retirement. This is especially true when it comes to Warrenton, an agricultural town that is situated just under an hour away from Kimberley and close to the Northern Cape’s borders with both the Free State and the North West Province.
Warrenton’s geographical position is actually one of its main selling points. Residents planning a trip to Gauteng, the Vaal Dam, Bloemfontein, the Karoo Heartland, Clarens, Lesotho or Botswana, have only a few hours to travel. The town is also right near part of the Vaal River, and is in close proximity to the Sandveld, SA Lombard, and Bloemhof Dam nature reserves.
Warrenton also boasts several amenities and features that should appeal to prospective homeowners. They include two medical facilities, Warrenton Hospital and Pholong Primary Healthcare Clinic; a substantial collection of educational institutions, both primary and secondary; a community library; and places of worship for various faiths and denominations.
If this appeals to you, then it is worthwhile to investigate the town’s property market. Lightstone Property has compiled a thorough report on various property-related trends observed in Warrenton between February 2018 and January 2019.
According to Lightstone’s data, Warrenton’s most substantial amount of stable property owners in 2018 was made up of citizens over 50. In fact, 38% of the town’s stable owners were pensioners, 32% were mature (aged 50 to 64), and only 6% were between ages 18 and 35 (the youngest demographic). Interestingly, however, the most property buyers in Warrenton over the relevant time period were aged 18 to 35, while only 25% were middle aged (aged between 36 and 49). Regarding Warrenton’s property sellers, the most recorded in 2018 (37%) were middle aged, while only 24% were mature citizens and 6% were young.
This suggests that Warrenton might mainly be a popular place for young families to settle for a period of time, property investors who seek additional income from renting, or senior citizens to retire to. Statistics pertaining to periods of property ownership in the town also contribute to this idea. 69% of house owners in 2018 had been living in Warrenton for 11 years or over, while 23% of existing owners and 18% of property sellers had been living in town for five to seven years.
Warrenton’s residential sector is exclusively made up of freehold properties, the total coming to 6353 in January 2019. 30 property transfers were recorded over the year, 18 of which involved fully built houses, and 12 of which involved vacant plots of land. Regarding price, only two properties, both of them developed, sold between R800 000 and R1.5 million, their cumulative value coming to R1 925 000. Meanwhile, the two most expensive plots of land sold for a total of R1 040 000. Regarding the remaining sales, seven houses sold in the range of R400 000 and R800 000, while nine houses and 10 plots of land were bought for under R400 000.
Home price growth and registration figures
From 2017 to 2018, Warrenton saw a slight decrease in the pricing of vacant land plots, with the median price dropping from R300 000 to R245 000. The median value of developed properties, on the other hand, grew from R320 000 to R400 000. As of 2019, the median price for developed properties on the market in Warrenton comes to a total of R675 000.
The number of developed properties registered on the Warrenton property market saw no change between 2018 and 2019, the amount staying at 17. Two developed properties have already been registered in 2019, a promising sign for the year to come. The amount of vacant land registered has decreased gradually since 2016, dropping from a total 16, to 14, then to 12. So far, no plots have been registered in 2019.
The general affordability of property in Warrenton is emphasised by Lightstone in a list which ranks the median property valuations of 834 towns in South Africa. Warrenton comes in at number 779, with a median valuation of R85 000. Combine this finding with the town’s location and generous collection of amenities, and you’ll come understand its popularity among certain demographics.