With the most recent events that happened in Gauteng, estate agents have had to work around the clock to assure their clients (both buyers and sellers) "that things will go back to normal".
This is according to Andre Snyman, Remax Sales Manager, who says that there are still suburbs performing extremely well during these times.
“We find that due to the low-interest rates there is an influx of our first-time home buyers requiring pre-qualification from bond originators to acquire property to buy instead of renting.”
“Savanna Country Estate is most definitely one of the estates where our sales agents sold a majority of the vacant stands available to a point where the whole estate is now sold out. That gave us a clear indication that clients are taking on building loans. Property re-sales in this estate have also increased simultaneously.”
“Faerie Glen is a front-runner being continued. As generations move along, we see a constant demand for properties and ranging in the age group of 28 to 40 years of age. We also find that the ‘new’ generations do modern upgrades on these properties and giving Faerie Glen a new look and feel.”
“For our top-end clients, we suggest Silver Lakes and surrounding estates where the clients put no price on security and privacy. These estates boast all amenities as well as schools and easy access to highways,” suggests Snyman.
He says they have seen a decline in purchasers buying properties in this class due to levy increases and rates and taxes on the rise year on year. Comments from sellers especially are that cost-saving come into play and the strain on their incomes as day-to-day living becomes more expensive.
Buyers snapping up homes in Pretoria Estates
Retha Schutte, Pam Golding Properties Regional executive (Pretoria Metro), says market-related priced properties sell within a few weeks from listing in areas such as Woodhill, Irene Farm Villages, Boardwalk Manor and Southdowns.
Homes in established, upmarket areas that are in a need of repair and/or renovation, also sell well between R3 million and R4 million. The market has not formally moved to a seller’s market, but demand for well-priced and well-located homes inside or out of estates and across all price bands will ultimately push up the prices, says Schutte.
Security remains a big priority for purchasers. Family homes with three to four bedrooms and a study with a well-appointed entertainment area and a pool. Staff quarters are also very important. The estates that offer golf courses, walkways, restaurants, and most importantly those that have private schools near or inside the estate are very popular.
| Top 15 searched Pretoria areas on Property24 between April to June 2021 | |||||
| Area | Average Asking price in 2021 | % Difference in Average Asking Price for 2020-2021 | % Difference in Average Asking Price for 2019-2020 | % Change in number of listings per suburb 2019 - 2020 | % Change in number of listings per suburb 2020 - 2021 |
| Waterkloof Ridge | 4 397 500 | 19% | 0% | 5% | -10% |
| Waterkloof | 4 280 000 | 0% | 2% | -12% | 3% |
| Silver Lakes Golf Estate | 4 250 000 | 7% | 7% | 12% | -22% |
| The Hills Game Reserve Estate | 2 795 000 | 46% | 4% | -1% | -32% |
| Savannah Country Estate | 2 150 000 | 39% | 64% | 44% | -14% |
| Faerie Glen | 1 935 000 | 5% | 0% | -2% | -14% |
| Moreleta Park | 1 897 000 | 6% | 2% | 10% | -17% |
| Equestria | 1 470 000 | 3% | 5% | 5% | -12% |
| Montana | 1 440 335 | -2% | -1% | -7% | 6% |
| Pretoria North | 1 162 500 | 5% | 11% | 5% | 2% |
| Danville | 999 999 | 4% | 7% | 6% | -9% |
| Pretoria West | 930 000 | 6% | 7% | 17% | -18% |
| Atteridgeville | 860 000 | 9% | 2% | -6% | -20% |
| Lotus Gardens | 777 095 | 2% | 9% | 11% | -19% |
| Mamelodi | 749 450 | 10% | 6% | -8% | -40% |
Source: Property 24 Trends Data
Pretoria has currently *4 607 new property listings, according to Property24 Trends Data, with the average asking price being R1.37 million.
The average sale price per erf for 2020 was about R1.26 million, while Section Scheme Units average sale price for the same period is R887 000.
The latest residential listings on Property24 show that three-bedroom homes are most widely available, at an average list price of R1.49 million. Sellers in the area fall within the 50-64 years (31%), while 38% of buyers within 36-49 years - followed by 35% within 18-35 year age group.
Click here to see all the latest trend data for Pretoria
According to Bertie Lombard, Rawson Property Group franchisee for the area, Pretoria East’s wide-ranging appeal has seen a flood of recent buyers across a number of demographics, including families, young professionals and first-time buyers.
“Our highest demand is for duets and freestanding houses between R1.2 million and R2.5 million, and properties in security estates between R2.5 million and R3.5 million,” he says. “Larger properties with granny flats also sell almost immediately -there are a lot of grandparents moving in with their children to assist with the grandkids.”
Younger buyers and investors are tending towards more compact properties, snapping up sectional title units under R1.5 million.
Lombard also suggests that when the interest rates start to rise again, it will create more balance within the market between buyers and sellers.
Good investment opportunities in Akasia and Pretoria North
Magnus Engelbrecht, Just Property Pretoria North franchisee and principal, says the agency has noticed a steady increased in property values in Clarina, a suburb in Akasia.
“The area is well-equipped with all amenities one would expect from urban living two golf courses, Akasia Golf Club and Hillside Golf Club. Buyers can find entry-level homes priced from R300k up to R2 million for an upmarket home.
The area is well-equipped with all the amenities one would expect from urban living including two golf courses, Akasia Golf Club and Hillside Golf Club.
There is a planned R12 billion that will be spent on Rainbow Junction, which is on the doorstep of Pretoria North.
“The development of Rainbow Junction furthers major national, provincial and local economic objectives. It is a catalyst project in the City of Tshwane’s Zone of Choice and within the Gauteng Development Corridor. The development of the entire Rainbow Junction precinct is expected to create 45 000 permanent jobs with positive benefits for the local economy and will stimulate the property market for the North of Pretoria, in Both the Sales and Rental sectors,” explains Engelbrecht.
"Camlyn Gardens, a lifestyle estate in Clarina has sold 70% of the apartments. This estate includes 24-hour security, two swimming pools with braai areas and a children’s play area. In addition, the estate is fiber-ready. The apartments are well-appointed with granite tops and prepaid electricity," he says.
Want all the latest property news and curated hot property listings sent directly to your inbox? Register for Property24’s Hot Properties, Lifestyle and Weekly Property Trends newsletters or follow us on Twitter, Instagram or Facebook.
*Property24 Listings Data Disclaimer: The trends detailed in this article are based on Property24 listings, current at the time of publishing, and property transfer data supplied by Deeds offices, which typically take 3-4 months to reflect. Suburbs are listed according to Property24's geographical database. In some areas this will include both commercial and residential properties. The age demographic data of buyers, sellers and stable owners is determined over a six-month period. These Property Values should not be used as a substitute for independent professional advice and is subject to Property24.com Terms and Conditions.
Print
