If you’re looking to relocate to the Northern Cape, then Springbok is the town that stands out for buying a home. This is because it’s the largest town in the province and is a favourite for tourists, as it connects Cape Town with Namibia. Here are some interesting property insights about the small Namaqua town from recent data provided by Lightstone property.
Property Ownership structure
The data provided by Lightstone shows that 61% of existing homeowners in the town have been in their homes for eleven and more years; 9% have been in their homes for eight to ten years, 13% for five to seven years, while 17% have owned their properties for less than five years.
Out of the homeowners who recently sold their properties, 64% held on to their homes for eleven and more years, 17% for eight to ten years, 6% for five to seven years, and 13% for less than five years.
Age of owners
Lightstone’s data also revealed the age of property owners in Springbok and the following were the stats, for the period of February 2018 to January 2019. Amongst stable owners, 32% of homeowners were pensioners; 36% were in the 50 - 64 age group bracket; 27% in the 36 - 49 age group bracket, with only 5% of owners being youth - 18 - 35 years old. Amongst recent buyers, 9% of homeowners were pensioners, 27% in the 50 - 64 year age bracket, 32% were 36 - 49 years of age, and interestingly 32% were young adults. The data showed that 36% of recent sellers were pensioners, 25% aged fifty to sixty-four, 32% aged thirty-six to forty-nine, and 7% aged eighteen to thirty-five.
The most popular property types
According to the Lightstone Property data, the most common property types in Springbok are freehold properties, which should not be surprising for a small town. Estates and sectional schemes are not existent at this stage.
Home price growth
Growth and activity graphs for Springbok’s property market from Lightstone Property indicate that in 2018 freehold property prices were at their highest, but have gone done considerably since the beginning of this year.
Number of registrations
In 2008 there were a total of 89 transfers for freehold properties and 47 transfers for vacant land. Since then the number of registrations for freehold properties went down considerably, having been the lowest in 2009, with only 12 registrations, but it picked up again last year, with 26 registrations.
Popular neighbourhoods for buyers
If you’re considering to move to or buy property in Springbok, the town has four suburbs which include Bergsig, Fonteintjie, Matjieskloof and Springbok.