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
    • 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.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
    • 14 Feb 2018
      While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      If you are looking to sell your home this year, Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, says that there are five crucial things to do before the ‘for sale’ sign goes up.
    • 01 Feb 2018
      February is the month of love and to celebrate we will be posting about all the things we love this month. Follow the #MyPropertyLoves hashtag to keep up with our favourite things.
    • 01 Feb 2018
      After saving up and months of searching for the right home, applying for a bond and patiently waiting for the keys to the front door, it is finally time to cross the threshold and move into your new home. Now what?
        
    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