A shortage of supply has led to high levels of demand for property within the Secunda area.
This three bedroom, two bathroom townhouse has two large living spaces, a modern kitchen and large bedrooms. The property has a balcony with a louver deck, a garden and a double garage. It is on the market for R2.15 million - click here to view.
This is according to Laetitia Swiegers, one of the broker/owners of RE/MAX Homefinders, whose office services the areas of Secunda, Trichardt, Evander, Kinross, Bethal, Kriel, Leslie, Standerton, Ermelo and Embalenhle.
Swiegers says due to the fact that there is a huge shortage of property available in Secunda, they are seeing a lot of development with construction on nearly every available piece on land. Cosmos View, a development consisting of 256 properties ranging from R549 000 to R750 000, was sold out in a less than a month in October 2012 and many of the properties in new developments are sold off-plan before they are completed.
She adds that many existing homeowners are capitalising on the shortage of accommodation byturning their garages into flats and renting them out. “Quite a few of the recent homebuyers in the area are turning their homes into a type of commune or sub-dividing the land into two properties,” she says.
According to Swiegers the demand is due to an influx of new SASOL employees as it is the main source of employment in the area and it is expanding its business by erecting new plants. “SASOL does not currently have enough accommodation for its new employees and this has increased the demand for property in the Secunda area," she says. The demand has pushed prices up, and homeowners are currently seeing good returns on their investment.
Swiegers says that according to figures compiled on Secunda, Trichardt and Evander, 656 properties were sold and transferred in the past 12 months, with the year-to-date figures currently sitting at around 201 properties sold. Secunda property has the largest market share in the region with R479 million worth of property sold in the past 12 months, while the total value of property sold in Evander was R111 million for the same period. The average price of property sold in Secunda over the past 12 months was approximately R1.1 million, which has recently increased to R1.22 million because of the high demand and low levels of supply.
This three bedroom, two bathroom home has cosy living spaces and a modern kitchen. The property has a secure swimming pool, a single garage and a double carport. It is on the market for R1.28 million - click here to view.
According to Swiegers, an entry level home in a high-density, townhouse development would cost between R540 000 and R770 000 in Trichardt, and would offer three bedrooms, an open-plan kitchen and lounge and undercover parking. She says these homes generally suit first-time buyers and smaller families, and are excellent units to move into with very little maintenance needed.
Secunda’s mid-level homes range from around R1.2 million to around R1.5 million, and generally offer the buyer a large four bedroom house with two or three living areas, two bathrooms (one en suite), a single or double garage, swimming pool and a stand of approximately 900 square metres. These homes may require some attention and renovation.
Top-end homes in Secunda are priced from R1.6 million and can range up to R3.5 million or more. The lower price range would offer a contemporary home that features between three and four bedrooms and bathrooms, three or four large open-plan living areas, an entertainment area, swimming pool, modern kitchen, multiple garages, security system and landscaped garden.
She notes that around 52 percent of buyers are between the ages of 18 and 35 years old, with most investing in entry level and mid-level properties. Around 30 percent of the buyers are between the ages of 36 and 49 years old, generally opting for mid-level properties to those priced up to R1.6 million.
Swiegers says that thereis no reason to believe that the property market will reach a plateau anytime in the next 18 months as demand and supply is dictating the property prices and should continue to do so for some time to come.
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