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West Rand estate still selling well

20 Sep 2007

Situated on 145 hectares along the Roodekrans Ridge and between the Crocodile River and the Walter Sisulu Botanical Gardens, Featherbrooke Estate offers over 1,000 residential units.

The estate is very well secured and residents enjoy a seamless safe environment that is ideal for families to raise their children in.

Transactions in Featherbrooke Estate have, according to Deeds Office data, been exclusively free hold, with a two-year average price of R1,167,776. Since February 2006 the property market has fluctuated between 10 and 15 transactions per month. Nevertheless, the number of sales in this modern-day estate are still high, even though down 18,13% from the last period.

Over the past two years, the average number of free hold transactions was 165,5 for the period. Yet, as many as 20 transactions per month were recorded prior to 2006. This was the result of a natural tendency for new developments to attract curious buyers; however, interest has levelled off at around an average of 12 transactions per month.

Going forward, a levelling-off trend is emerging. While average prices in Featherbrooke have unmistakably increased since January 2005 at a rate of approximately R200k every six months from March 2005 through to July 2006. Thereafter, the market carried on increasing at a slower rate, ultimately peaking at just under R1,4m in March 2007.

Surrounding areas are empty of developments and houses, yet the large expanses of land are under the scrutiny of many developers who are eager to achieve house prices approximating those in Featherbrooke Estate.

This is illustrated by the growth in the neighbouring Pinehaven Township, of which local Seeff agent Sarine Horne says: "the property market in Pinehaven Township is definitely growing". Properties within Pinehaven estate cater for the top-end of the market, much like Featherbrooke Estate.

Featherbrooke's full title offerings don't come cheap, and from an investment angle Hentie Crous, founding member and principal of Global Estates, mentions that this market is just too expensive for potential investors. Furthermore, the majority of homes in Featherbrooke are located on plots of land close to or above 1,000sq m.

Krugersdorp's Silverstar casino resort is scheduled for completion in November, and as a result the immediate property market in the area should see an increase in activity, coinciding with general year-end movement. - James Monteiro

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West Rand estate still selling well

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