select
|

Home sales surge in Pretoria’s Moot area

The suburbs of Pretoria collectively known as the Moot are experiencing a surge in housing demand.
 
“This is being driven by two factors,” says Jaco Bouwer, owner of the local Chas Everitt International office, “the first of which is an influx of buyers relocating from the areas on the city’s eastern margin in order to cut commuting times and costs.”
 
The second factor is an increase in the number of subsidised buyers employed in the public service – especially at the Steve Biko academic hospital in Capital Park and at the new headquarters of the International Relations Department in Rietondale, he says.
 
“Both groups of buyers have recognised the benefits of living as close as possible to work, in suburbs well-supplied with good schools, several large shopping centres, churches and medical facilities, and this has led to our office achieving a 34% increase in sales during the first months of this year, compared with the same period of 2010.”
 
Bouwer says first-time buyers are well-catered for with many flats available in suburbs such as Gezina, Wonderboom South and Rietfontein. “Two-bedroom units with garages in these areas start at around R350 000, and the buyers of these flats are increasingly able to secure 100% home loans, especially if they receive a government housing subsidy.”
 
For buyers with families, full-title, three-bedroom homes are available in the Moot at prices from R800 000, and the most popular are those priced at under R1m, although there is also good demand up to about R1,5m.
 
“And among such buyers we are also seeing a significant increase in home loan grants. Our bond application declines have fallen from 23% to 14%, with the most common reason now not being lack of affordability but credit record problems such as late payments or debt judgments.”
 
Meanwhile, he says, extensive commercial and retail development along the Zambezi Drive axis over the past few years has fuelled demand for homes in the newer gated villages and estates in Montana, just to the north of the Moot area.
 
“Such developments are particularly popular among those relocating from similar surroundings in the eastern suburbs to be close to work in Montana, because they can then avoid commuting through toll gates.”
 
Issued by Chas Everitt International


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 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 …
    • 19 Jun 2018
      Douw Steyn, one of the richest men in the country, recently allowed a rare glimpse into his Fourways Palazzo when it was featured on the SABC lifestyle programme Top Billing - and it is beyond your wildest dreams!
    • 18 Jun 2018
      Many home sellers are motivated to appoint estate agents because they know that the agency will carry the costs of advertising and marketing their property.
    • 18 Jun 2018
      When a property is sold when it has a tenant in occupation, the questions often raised are: “What happens to the tenant if the landlord sells the property?”, and what rights the tenant will have with regards to cancelling the lease or enforcing it, says Sunell Afrika, rentals manager for SAProperty.com.
        
    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