Pretoria sees uptick in upmarket property band
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Pretoria sees uptick in upmarket property band

Pretoria

In Pretoria, property sales of between R3m and R4m show promise given the current economic circumstances. This is according to Gerhard van der Linde, managing director, Seeff Pretoria East

In Pretoria, property sales of between R3m and R4m show promise given the current economic circumstances. This is according to Gerhard van der Linde, managing director, Seeff Pretoria East, who has experienced a high level of activity in this price band with stock running low. Considering the pandemic, Seeff Pretoria East has enjoyed a positive 2020 with sales of up to R6,5m in Groenkloof, R7,33m in Mooikloof Equestrian Estate and R8,25m in Waterkloof Ridge.

While Pretoria East does not usually cater to first-time buyers, he says more tenants can now afford to buy because of the low interest rate. This has contributed to the higher than anticipated sales activity. A well-presented and correctly-priced property can sell within seven to 30 days, he says. Moreover, apart from security estates, residential suburbs secured by booms and with physical security are in high demand.

Centurion

Tiaan Pretorius, manager, Seeff Centurion, is expecting this area’s sales to improve on 2020’s performance saying the market is slightly livelier than last year with plenty of opportunities for sellers. “Where the most activity was initially seen in the R650,000 to R900,000 price range, there’s now demand for estate properties of between R2,5m and R3m with the highest offer received in the last year being almost R8,9m for a home in Midstream Estates,” he says. Seeff also sold properties in Southdowns, Centurion Golf Estate and Midstream in the R5m to R7m price range.

He says if priced correctly, a property can sell within days; nearly 40% of Seeff’s sales are concluded in under 21 days and the median for last year was 46 days. In this area, buyer demand is healthy in most price bands with a high demand for townhouses between R650,000 and R900,000, freestanding homes in the suburbs in the R1,4m to R1,9m range and in security estates between R2m and R3m. Buyer hotspots include Die Hoewes for first-time buyers and investors. It’s close to the Gautrain Station and main amenities. Amberfield in Central Centurion offers value in the R1m to R2,5m price range, while Midstream is a popular estate for buyers in the R2,8m to R6m price range. Midstream offers good schools, top-class security and is conveniently located between Johannesburg, Pretoria and Ekurhuleni.

Rentals popular here

Areas on the urban peripheral are in high demand from buyers and tenants, according to Stephan Cross, sales manager, Seeff Hout Bay, while Marinda Uys, rentals manager, Seeff in the Boland, Winelands and West Coast areas confirms that rental accommodation is a popular option here.

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