By the end of October, Garden Route property prices had peaked, reaching R2.5 million.
Average sale prices in the region have been climbing for years, pushing buyers and sensible developers to explore overlooked areas.
But that push is good news for buyers.
Instead of spending R2 million in established areas, they can get a plot for less than R500 000 in a newer neighbourhood.
Coastal property minutes from Mossel Bay’s beach
The Garden Route‘s population expansion has been concentrated in Mossel Bay and George. With that growth comes new neighbourhoods and suburbs where buyers can get their foot in the door before property prices inevitably rise.
Mossel Bay Extension 26 is one such area.
Perched on a hill, the area offers views of Diaz Beach from nearly all angles.
The average sale price in Ext 26 is roughly 44% less than Mossel Bay’s average sale price, plus there’s plenty of land for buyers who see the area’s potential.
The biggest draw is the price of vacant land.
Elsewhere in Mossel Bay, buyers can get vacant land starting at R575 000. But in Extension 26, asking prices start at R460 000.
For that price, buyers can get 500 square metres and breathtaking views.
In Diaz Beach, a 14-minute drive from Extension 26, a plot of roughly the same size sells for R2 million.
Affordable Property in Mossel Bay
Since the start of the year, the average sale price in Mossel Bay Ext 26 has increased 146% according to data from the South African Deeds Office.
However, property in Ext 26 remains affordable because most plots sit on a slope.
That means almost every buyer gets magnificent uninterrupted sea views. It also means buyers spend at least R200 000 on a build.
Another drawback for some buyers is the area’s proximity to Isinyoka, an informal settlement, to its east.
However, Isinyoka is undergoing major rejuvenation, and the area remains safe with no direct routes to Extension 26.
Extension 26 also remains somewhat secluded because it’s on a hillside.
