'Good value for money' in Pretoria's residential market right now

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.

This four-bedroom, two-and-a-half bathroom home in?Montana?offers a braai area, spacious kitchen and pool. It is on the market for R3.149 million -?click here?to view.

“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.

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.???????

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.

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.”

Set on a 15 820sqm erf in?Pretoria North, this home offers three bedrooms, three bathrooms and a study. It is on the market for R3.5 million -?click here?to view.

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.?

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.

This modern townhouse in?The Orchards, Akasia has two bedrooms, one bathroom and 24-hour security. It is selling for R544 000 -?click here?to view.

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.