Thirty-somethings favour Midrand estates

Lifestyle estates in Midrand are recording solid sales thanks to sustained interest among established professional people.

Lynette Gregorowski of the local RealNet office says estates such as Midstream, Midlands and Midfields have lost none of their attraction in recent times for professional people in their thirties and early forties who are looking for family homes in a secure environment.

"The average age of buyers in these estates is 38 and they are mostly buyers pre-approved by lending institutions who have the necessary deposits on hand. In contrast to many other regions where transactions fall through because of economic constraints, almost no problems of this nature are evident in the Midrand estates," she says.

This type of buyer typically targets large family homes of about 300sqm with good finishes in the price range between R1,8m and R2,5m.

Gregorowski adds that Midstream College, a private school catering for primary as well as high school learners, is a big draw card for such buyers. "The school has achieved an enviable track record and the fact that it is situated in a secure environment is a prime factor in many buyers' decisions to settle in one of the estates."

Midlands Estate currently offers a good selection of units, she says. "This is the latest addition to the trio of estates and developers have recently brought new stock on stream."

The entry-level for the estates is around R1,5m, which will buy a three-bedroom family home with a study and staff quarters on a stand of between 600 and 800sqm.

Gregorowski says the only indication that current economic circumstances are having an impact on sales in the estates is that sales of properties with price tags of R5m and more have slowed down in the past few months.

Issued by RealNet

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