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
    • 20 Feb 2018
      Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Feb 2018
      The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.
    • 20 Feb 2018
      A major shift in the ageing paradigm has precipitated an equally dramatic transformation in the retirement sector, with modern accommodation options worlds away from the conventional model.
    • 19 Feb 2018
      Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
        
    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