The leafy area of Westville, some 12km inland from Durban, is experiencing a strong demand for cluster homes, says Keith Broadfoote-Brown, area principal for Pam Golding Properties.
"In general home buyers are becoming more security conscious and so cluster style living - where one can enjoy the privacy of a freehold home with its own garden - is highly desirable, particularly small developments of four to six homes. And because there's limited land available in the area for such cluster developments, they will remain sought after," he says. The price range such buyers are currently prepared to pay is between R8 000 and R10 000 per square metre.
At an exclusive small cluster development well situated in a quiet location a stone's throw from Westville Boys' High School, re-sales are consistently exceeding the R2 million price level. Says Broadfoote-Brown: "Having sold off-plan only two years ago, a few homes recently became available for re-sale. We are currently marketing a 275sqm three bedroom, two bathroom home in this same development for R2.5 million. This is a well positioned corner unit with a very private garden, entertainment area and patio, double garaging plus driveway parking for another three cars. In addition to this unit we have a four bedroom, three bathroom home for R3.2million This development is very secure with high boundary walls."
He says the bulk of home buyers are locals wanting to upgrade, while sellers tend to be those relocating to Gauteng on business. "This area still offers excellent value for money despite reflecting price appreciation of 19 percent in the first quarter of 2008. We attribute this to the fact that Westville is still playing catch-up to other areas, so the recent increase was more a delayed reaction or correction in the market. Being 90 percent residential, Westville is a popular area which still has very good potential for growth in property values, with spacious properties available and overall good quality homes."
Prices range from an entry level of just under R1 million for a good sized three bedroom home to an average priced home of R1.5 million, to upmarket homes priced mainly up to around R2.6 million. At the very top end of the market PGP is currently marketing a magnificent four bedroom, three bathroom home set on 6700sqm in prime King's Avenue for R6.9 million. Among other features it includes a wine cellar, cricket net for practice, putting green, swimming pool with flowing water feature, sweeping staircase, fitted bar, staff quarters and laundry and included on the property is a two bedroom, one bathroom cottage.
For further information contact Keith Broadfoote-Brown of Pam Golding Properties on 031 2664343 or 083 791 2231 or email email@example.com