select
|

Pinelands – the 15 minute suburb

The Cape suburb of Pinelands is experiencing moderate growth in residential sales this year, compared to the first half of last year, says Richard Smith of Jawitz Properties Pinelands. Smith says that in both free-standing homes, and sectional title units, sales are up.

Between the beginning of January and the end of May last year, free-standing property sales in the area totalled at R62, 860 000, while the first five months of this year totalled at R74, 552 500. The median price in this sector rose by R250 000, and the per m2 price, by R200 this year.

Smith credits the popularity of Pinelands with its status as the 15 minute suburb – meaning it is possible to get from Pinelands to the airport or the CBD in no more than 15 minutes. Its proximity to these destinations makes it an ideal, central location to live in.

Additionally, the amenities of the area are also an attraction. “There is a unique, quiet, relaxed feel. Pinelands has wide pavements, grass verges and open parks. It is very family-orientated, closely located to schools, and also offers a few retirement homes,” says Smith.

“You don’t have to leave the suburb as there are plenty of local businesses offering all you could need, but the close proximity to town, and large malls like Canal Walk – thanks to the new M5 connection, are fantastic benefits for residents here.”

In sectional title sales, for the same time period last year, homes to the value of  R13, 400 000 changed hands, while this year between January and May, total sales are at R13, 890 000 . Despite the median price in this sector dropping by close to R220 000 and R500 per m2 this year, five more homes have been sold this year compared to last year.

Smith finds that the most prominent demand is for homes in the under-R2 million price bracket. The only negative element is that some buyers struggle to acquire finance, but he says for the ones who can afford to buy, if a home for sale is priced correctly, it tends to sell within a month to six weeks.

“Buyers are definitely seeing the value of Pinelands,” Smith concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 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.
        
    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