select
|

Moreleta Park - Suburb Trend Report

Area history

One of the most south easterly suburbs of Pretoria, the upmarket area of Moreleta Park is ideally situated for easy access to all major transport routes. As with most of Pretoria’s eastern suburbs, the tranquil leafy suburb of Moreleta Park is home to large properties, beautiful gardens and a number of townhouse and cluster type complexes. 


4 Bedroom House for sale in Moreleta Park

Moreleta Park is within proximity to a few of the regions picturesque golf courses such as Wingate Country Club, the Kimiad Country Club, Woodhill Golfing Estate and Silver Lakes. Other amenities that are close to the area include Kloof hospital, Menlyn shopping centre, as well as various other supermarkets and restaurants.

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that property in Moreleta Park consists of 55% sectional title units, 25.19% estates and around 19.8% freehold property. He says that property prices in the area saw excellent growth between 2004 and 2008, with the average price of freehold property more than doubling during that period. While prices saw a slight dip in 2009 and 2010, the effect of the global slowdown had very little impact on the area’s prices compared to some other regions throughout the country. Goslett notes that in 2011 prices saw recovery and have been on an upward trend ever since. Last year both freehold property and sectional title unit prices hit new records, with the average freehold property price around R1.691 million and the average price of sectional title unit approximately R934 000.


4 Bedroom House for sale in Moreleta Park

According to Lightstone data, in 2004 and 2005 the number of sales transactions in Moreleta Park were remarkably high. However, the volume of transactions saw a steady decline until 2009. In 2010, sales figures started turning around and have gradually seen a solid upward trend as the market has gained more traction. Goslett says that the area has been particularly popular among buyers under the age of 49 years old recently, with around 46.05% of recent buyers between the ages of 18 and 35 years old and 31.16% between the ages of 36 and 49 years old. Currently about 45% of existing homeowners in the area are between the ages of 36 and 49 years old. This age group also represents the highest percentage of recent sellers (42.4%).

Property price trends





Demand for property

Goslett says that 46.5% of the properties sold in Moreleta Park from February 2013 to January this year were priced between R800 000 and R1.5 million, while 26.6% were priced between R400 000 and R800 000. He notes that 23.6% of properties sold during this period were priced between R1.5 million and R3 million, while 2.5% were priced below R400 000. Only 0.7% of properties sold in the area during that time frame were sold for more than R3 million.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Nov 2017
      Reserve Bank Governor, Lesetja Kganyago, said that the Monetary Policy Committee had once again decided to let the interest rates remain unchanged with the repo rate at 6.75%, and the prime lending rate at 10.25%.
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
        
    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