Under the new deal the new franchisee and his sister Kim (who will continue working as a rental agent in Fish Hoek), will be allowed to trade in Bosman and Baker's areas and will on occasions share mandates.
Kim Mann, who has had several years' experience with the Fish Hoek franchise, will continue to run the Fish Hoek rental operation, which manages some 40 properties and signs leases on an additional dozen each month. "An arrangement of this kind would not have made much sense two or three years ago. However with a revival now clearly taking place in the market (prices are rising 3% to 4% per annum), this is a good time to put the new deal into action," she explained.
The bigger footprint will lead to a 50% upturn in Fish Hoek sales and a big upturn in the rentals, which the Fish Hoek franchise will be handling for the entire area, including Simon's Town. "A transformation is taking place and we are now seeing a change in the whole face and image of Fish Hoek. Previously it was viewed as a rather quiet suburb, best suited to retired people and surfers. Now it is attractive to many younger couples with families."
Such couples are drawn to Fish Hoek by the relatively low prices still prevailing there and by their appreciation potential, which over the next five years will exceed 35% in total. "At the moment, R1-1.5 million will buy a well built and well-designed three or four bedroom home. This is approximately half what would be paid for a similar home in the central Cape Peninsula suburbs."
If the young couple has children they will probably also be attracted by the very satisfactory academic standards achieved by the Fish Hoek schools and possibly by the presence of the False Bay Technical College, which has an excellent reputation countrywide. Buyers are increasingly attracted by the low crime figures.
