Housing demand heats up in Elsie’s River

The Elsie’s River area near Parow in Cape Town is set for massive growth in the next few years, as prospective buyers clamour for housing close to their workplaces.

This four-bedroom home in Elsie’s River is for sale through RealNet for R600 000. It also has two bathrooms, and lounge/dining room, a large kitchen and undercover parking for at least four cars.It is located near schools, shops and public transport.
Elsie’s River is conveniently situated near Goodwood and the industrial parks and factories of Elsie’s River Industrial, and according to Ingrid le Roux of RealNet Platinum,housing demand in the area is already growing as young buyers also see the advantage in its convenient location on the N1 and its central position in greater Cape Town.
In fact, she says, she recently expanded the operational area of her award-winning franchise to include Elsie’s River and neighbouring Ruyterwacht and has already sold six of the 16 units in Riverton Mews, the only new complex in the area at the moment, at prices from R509 000 to R829 000.
“And we are anticipating further strong sales because developers have now also earmarked the area for the provision of many more affordable homes. They know that young buyers these days really want to live close to where they work.”
The City of Cape Town, Le Roux notes, is also providing some “gap” housing on municipal land in the area as part of its drive to alleviate the housing shortage in the metro, and its efforts to upgrade the neighbourhood will have a knock-on effect.
As it is, though, says local RealNet agent Maureen Linnen, demand is currently still well ahead of supply in the area. “For example, I recently sold a house where there was so much interest that the seller received five offers.”
An important characteristic of the area is that most of the families living here have occupied their homes for 50 years or more, she says. “It is quite usual here for children to buy the property in which they were raised from their parents and just continue to live there. And most of my current prospective buyers already have family in the area and want to move to be close to them, although their most pressing concern is affordability.”
Le Roux says that current buyers in the area are mostly working couples who prefer free-standing houses and that the most sought-after price range is R580 000 to R650 000.
For those who have families, there are many schools in the area, while the Avonwood Square shopping centre enables residents to do their shopping close to home instead of having to travel by taxi to centres in other areas.

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