Growing security concerns and resistance to the cost of commuting have given Alberton security estates a boost recently, and underpinned home prices in these developments.
So says Ronell van Niekerk, principal of the local Chas Everitt International franchise, who notes that sales in this segment of the market have remained comparatively brisk with security-conscious buyers gravitating increasingly towards estate style living.
"A number of estates have for example been built in the suburb of Meyersdal in recent years and the popular Eco Estate there has sold particularly well. Stands here have fetched prices of between R1,6m and R2m.
"A feature of the estate is the game that roams around freely and many buyers are now opting to purchase in this type of development rather than in sectional title or cluster complexes because they offer a much more uninhibited way of life. Generally speaking, properties in these estates are private, generously proportioned and not confined by unattractive security measures."
Another estate attracting attention is the much older Alberante. Originally one of the first extensions of Alberton, Alberante was converted into an estate in recent years and now urban sprawl has effectively turned it into a park-like island characterised by gracious homes. Easy access to good schools and the nearby Alberton CBD have increased its appeal and despite its age, homes here continue to sell well, particularly if they have been upgraded. Prices start at R2,5m.
While the top end of the Alberton market is thriving, however, there is currently little activity at the entry level, says Van Niekerk, because many first time buyers are still battling to come to grips with the National Credit Act and the banks' new lending criteria.
"There is an upside though. The rental market is booming with freehold homes renting for between R6000 and R14 000 a month, which creates opportunities for investors."
ISSUED BY CHAS EVERITT