select
|

It’s a great time to be a homebuyer in Middelburg

The recent mine closures around the Mpumalanga town of Middelburg have resulted in a surge in the supply of homes for sale – and pricing that definitely favours prospective buyers.

So says Elsa de Bruyn, who recently acquired the RealNet franchise for Middelburg and notes that it currently has around 400 homes listed for sale, compared to around 200 a year ago.


4 Bedroom House for sale in Gholfsig, Middelburg

“What this means is that potential buyers here are spoilt for choice and might even be able to find their dream home at a lower price than they might have paid a couple of years ago, depending on the urgency of the sale.

“For example, former employees of the closed mines who have found employment elsewhere often need to sell in a hurry, and may well accept an offer for substantially less than their initial asking price just in order to get a transaction finalised.”

De Bruyn, a 33-year veteran of the real estate industry, says the current situation in Middelburg is more evidence of the fact that the property market is cyclical, “and that the best times to buy or upgrade are when supply is plentiful and demand is relatively low”. 

As for why buyers might like to acquire property in Middelburg, she says it is a thriving, bustling town with good infrastructure that is fortunately not only dependent on the surrounding mines for its livelihood.  “It is of course the stainless steel capital of SA, and also a major agricultural hub. Situated midway between Johannesburg and Nelspruit, and on the way to the Kruger National Park, it also has a growing tourism sector that is set to boost the property market in due course.”

In recognition of this diversity, she notes, the town has just been named as the Kwela Town of the Year 2015 in the competition that features on the Kyknet DStv channel.

The current average family home price in Middelburg, De Bruyn says, is R1,2m and there is a wide variety of other properties for sale, including farms and smallholdings. Vacant stands in the lovely Valley of Presidentsrus development alongside the Olifants River Lodge are available at prices from R245 000 for 1000sqm.

There is also land available in Middelburg’s popular upmarket suburb of Aerorand, which also offers brand new homes in security developments at prices from R1,3m, and excellent value to be found in Gholfsig, where RealNet is currently marketing a 380sqm, four-bedroom villa on the golf course for R1,85m.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK