Fish Hoek Property Report

Fish Hoek Property Report

Private Property South Africa
Anna-Marie Smith

Fish Hoek is the delightful South Peninsula town that has lured many a holiday maker to relocate for lifestyle choices, and enter the relatively lower priced property market. Located along the False Bay coastline and wedged between its competing neighbours, Clovelly - famous for its pristine golf course and Simonstown that is home to SA’s Naval Base, Fish Hoek is unique in many ways. Perhaps best known as the town without a single liquor store, it also holds archeological status since the discovery of the 12 000 year old paleolithic skeletons discovered in Peers Cave in 1927. The history of this fishing village goes back to when it was a ‘loan farm’, where Lord Charles Somerset built a road across the ‘Visch Baai’ in the early 1800, followed by the first grant of ‘Crown’ land . One of the earliest recipients of such a grant was Andreas Bruins who in 1818 had to adhere to three conditions attached to the grant. It stipulated that there was to be no public wine house, and although restaurants are granted bar licences today, the ‘no liquor retail rule’ still applies. Well known for ‘trek netting’ today, fishing rights were to remain free, and the magnificent Indian Ocean beach measuring more than one kilometer had to remain open for public access.Although entry level prices currently fall between R550 000 to R800 000, steady property prices offer new and first time buyers excellent purchasing power. Buyers from upcountry say affordable property prices and a strong sense of community are the main attractions. Another popular attraction is the flat ‘avenues’ in the centre of town, that offers close proximity to public amenities, including churches, shopping centres, hospital, and sports clubs. Fish Hoek offers younger families whose priorities are good schools and recreational facilities, many choices including an Afrikaans pre-primary and primary school and reknown English medium high school. The ever popular Fish Hoek lifesaving club and sports clubs offer children and teenagers who are keen to maximize the idyllic Mediterranean climate, a number of choices.Lighthouse shows that 35% of Fish Hoek’s stable residents are aged between 50-64 years, 40% of which are pensioners, sectional scheme properties only hold 22% of overall market share, and freehold 76%. Freehold properties in Fish Hoek enjoy a national suburb ranking of 718 out of 5129, with average prices of R1 537 618, and a municipal suburb ranking of 144 out of 561. Considered a more affordable option to nearby Kalkbay or Noordhoek, average freehold property prices have consistently increased since 2004, from R749 000 to R1 124 million in 2010. But tough economic times are noted in the sharp downturn of average sectional scheme prices, from its highest point since 2004, of R801 000 per unit in 2010, down to R546 000 per unit in the first quarter of 2011. Last year saw 167 freehold sales compared to 380 in 2004, while sales of lower priced sectional scheme properties such apartments were recorded at 73, compared to highest sales of 89 in 2004.


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