Montclair - increasingly popular with young buyers

The centrally located residential area of Montclair in Durban is emerging as a rapidly blossoming suburb in the region south of the city, says Fay Hoosen, area principal for Pam Golding Properties.

“This is increasingly becoming the residence of choice for younger professionals and career-minded people migrating from the townships. Being on bus, train and taxi routes is an added advantage for this area, while it includes a number of good schools such as Montclair Primary, New Forest High School and Yellowwood Park Primary School,” she says.
Hoosen says homes currently most in demand are freestanding houses priced from R500 000 to around R800 000. “Homes are generally affordable, with a basic one bedroom flat ranging in price from R295 000, while a basic three bedroom home averages from around R500 000 to R650 000. There are many flats, duplexes or complexes which offer an alternative to freestanding homes, and in this category prices vary from about R295 000 up to R700 000.

“The main requirement among home buyers in Montclair is for parking and security, while the bulk of aspiring home buyers seek 100 percent bonds, which are not always possible. Many purchasers have accumulated sufficient funds to cover costs such as transfer duty, bond costs etc, but are unable to secure the deposit amount, which usually tends to be about 10 percent. While there are more than enough willing buyers in the marketplace, the strict bank lending criteria are still a key impediment to successfully concluding sales transactions. Positive news however is that investors are also looking to acquire residential property in Montclair, mainly in the lower price ranges and generally for apartments.”

Pam Golding Properties also covers the leafy, green area of Yellowwood Park – which incorporates the Kenneth Stainbank Nature Reserve, with its abundant birdlife, walking trails and picnic sites. Says Hoosen: “Yellowwood Park has a real sense of village life. The Community Hall or civic centre is a beautiful Cape Dutch building that is for hire for weddings and various other occasions, and the suburb is almost tranquil with its park-like surrounds.

“More upmarket, this area attracts buyers with a larger budget, with homes ranging from R800 000 to R2.5 million. However, these buyers also seek good value for money. Most of the homes have three or more bedrooms and swimming pools and are set on large stands. Sellers tend to be those downsizing due to adult children having left home, or preferring a more compact lock-up-and-go dwelling, while purchasers include those moving in from Chatsworth, Isipingo and nearby townships,” she adds.

Yellowwood Park is also conveniently situated with easy access to Montclair – with its shopping facilities, Chatsworth, the industrial area of Jacobs and Durban central. The Centre for the Rehabilitation of Wildlife (CROW) is situated in Yellowwood Park, while sports various facilities are offered at the Yellowwood Park Sports Club, the Wanderers Sports Club as well as the Alex Hulley swimming pool.

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