African home buyers focussing on Montclair and Woodlands

News > news - 21 Apr 2008
Montclair and Woodlands in the southern part of Durban are experiencing a strong demand for homes, particularly among African buyers, says Rodney McKenzie, area principal for Pam Golding Properties.

"Entry level homes are being snapped up by such buyers who represent mainly a younger generation of Africans who prefer to move into previously 'white' residential areas, yet with Umlazi within easy reach they are able to retain contact with their township roots - and families and friends.

“Most of these are upwardly mobile, first-time buyers tending to move away from the extended family home concept and usually seeking two or three bedroom homes," he says.

PGP Montclair office manager Fay Hoosen says: "A benefit for buyers in the Montclair/Woodlands area is that transport is easily accessible with railway stations and bus routes within walking distance, while government hospitals are also in close proximity.

"In catering for this market, all our agents are black and our top agent, Rosemary Mhlongo reports that the price range of homes most in demand is between R300 000 and R600 000, with the average selling price approximately R500 000. Probably around five out of seven transactions are for flats, simplexes or duplexes, which clearly illustrates a preference to live in cluster homes, which are affordable and appealing, particularly in terms of security.

"It's no exaggeration to say that currently and almost daily, Mhlongo receives a signed offer to purchase. However, we are finding that the National Credit Act is still bedding down and as a result some bond applications are not being approved, but we believe this situation will stabilise, particularly as more and more buyers become familiar with purchasing property," says Hoosen.

Properties in the Montclair region are affordable, ranging from R300 000 for a two bedroom flat to R800 000, which would buy a three bedroom home with swimming pool. The more affluent Yellowwood Park area attracts black buyers who earn above average incomes.
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