Uitenhage - growing demand from young families

“This factor, coupled with the value for money of homes in the town, is driving the housing market in Uitenhage, with the highest growth in demand in the price range between R400 000 and R600 000. However, the reality is that first time home buyers are experiencing difficulty in securing 100 percent mortgage finance, and are compelled to save for up to two years for the 10 percent deposit and costs related to the property purchase.”

Weistra says homes priced in the R800 000 / R900 000 price bracket are also in demand from purchasers who are upgrading. “Due to the proximity of schools, popular areas in Uitenhage include Upper Central including College Hill and Cannon Hill, and Mosel. There’s a shortage of stock in these price ranges and new stock that is priced correctly sells quickly.”

He says the suburbs in the western areas which are receiving the most enquiries are: Mountain View – mainly in the price range from R390 000 to R550 000, and Gamble – in the price bracket from R280 000 to R450 000. “Again these tend to be young families and first time buyers under 40 years of age. Other purchasers are those upgrading to areas such as Van Riebeekhoogte and Fairbridge Heights, predominantly in the price range from R500 000 to R700 000, and to Vanes Estate, at prices ranging from R750 000 to R1.5 million.

“Activity in the residential market in Uitenhage can be attributed to demand for well priced properties offering good value to buyers. Yet despite the fact that prices generally have reduced by between five and 10 percent since 2007, over the past decade this area has seen sound capital growth. For example, over the past 10 years in areas such as Vanes Estate and Strelitzia Park values have increased from R280 000 to R850 000 on average; in Scheepershoogte prices have increased from R140 000 to R520 000 on average, while Van Riebeekhoogte has seen values grow from R140 000 to R600 000 on average.”

Weistra says a further boost to Uitenhage’s housing market is the demand from purchasers who work in nearby Port Elizabeth and commute to work. “In this regard there’s a steady demand in the R800 000/R900 000 price range in the areas of Strelitzia Park, Levyvale and Vanes Estate, areas where erf sizes are 1000 square metres on average and provide sound value for money. Such properties enhance the country lifestyle and ‘village’ ambience of Uitenhage, which is also home to the Groendal Wilderness Reserve and retains its picturesque environment. The town also has excellent schools like Brandwag, Daniel Pienaar, Strelitzia, Riebeek College and Muir College, to name a few. Here children can still play and ride their bicycles in the suburban streets of the town.”

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