George may be nicknamed ‘Cold and Wet’ after its CAW license plate, but this scenic Garden Route town has been warming the hearts of an increasing numbers of residents over the years.
This home offers three bedrooms, two bathrooms, an open-plan kitchen, covered patio, built-in braai and double garage. It is on the market for R1.65 million - click here to view.In fact, semigration into George from towns and cities around the country is now conservatively estimated to be around 50 families per month – significant enough numbers to be having a real effect on the property market.
Stephen Lubbe, the Rawson Property Group’s resident franchisee, says demand for residential property in George is exceptionally high at present. He says this is almost certainly due, at least in part, to the number of new residents moving into the city each month. He says it’s a positive sign for the future of the local property market in light of the otherwise tough economic times our country is facing.
George’s features and amenities
According to Lubbe, the main driving force behind the high number of families moving into George is the relative safety, stability and high quality of life the city offers.
He says so many towns and cities around South Africa are struggling with crime, bad infrastructure, poor management and political instability. By comparison, George is a safe haven as it has world-class infrastructure, a well-run municipality, stable local political environment, top-class schools, great hospitals, an excellent airport and a low crime rate.
Situated in Camphersdrift, George, this house has three bedrooms, two bathrooms, an open-plan kitchen, family room with fireplace, flatlet and secure parking. It is selling for R1.459 million - click here to view.“We’re also located in one of the most beautiful parts of the country and our outdoor lifestyle and activities are second to none. It’s pretty easy to see the attraction for families. Who wouldn’t want to raise their children in this kind of safe and healthy environment?”
The influx of new residents is doing more for the property market than just driving demand. Traditionally, Lubbe says fixer-uppers have always been popular, and while they still see demand for flip-friendly properties from young couples and speculators, it’s the ready-to-move-in homes that are really flying off the shelf at the moment.
What are buyers looking for?
Understandably, it seems families that are new to the area aren’t looking to get into serious renovations right away, but what is topping their list of priorities in a property?
“High quality finishes and good general condition seem to be the most important things for buyers at the moment. Our mid- to high-end sectors are the most popular, with buyers looking for a minimum of three bedrooms, two bathrooms and spacious grounds of 800 square metres and up. We have the highest demand for properties between R1 million and R1.5 million, and those sales make up 20% of all our residential transactions. The R2 million to R3 million range is also seeing a lot of interest from buyers, and about 11% of our sales fall into this bracket.”
This property in Rooi Rivier Rif, George, offers three bedrooms, two bathrooms, an open-plan kitchen and lounge, and garaging for two cars. It is priced at R1.3 million - click here to view.As far as capital appreciation goes, Lubbe conservatively estimates around 10.5% per annum for freehold properties. “Sectional title has seen slower growth,” he says, “but rental demand is currently sky-high so buy-to-let investment could accelerate this market in the future.”
Development stimulating the property market
New construction is also speeding up, with developments like Kraaibosch Country Estate, Kraaibosch Manner and Blue Mountain Lifestyle Estate growing at pace.
Lubbe says demand for residential property in the eastern suburbs in particular has been stimulated by the development of the Garden Route and Eden Meander Malls, and the new Medi Clinic private hospital on the eastern periphery of George will only add to this movement.
Clearly, George is a town on the rise, and if Lubbe’s predictions prove accurate, property owners can expect a rosy future.
Print
