Hear from the local experts about what the property market in this Centurion West suburb looks like.
What types of properties are available in these areas and who is buying them?
Eldoraigne is a thriving suburb located in the western part of the greater Centurion. The suburb comprises several gated villages offering security, as well as full title houses (the latter mostly being transformed into businesses). Of the 542 property sales during the last 12 months, only 83 were freeholds, the rest consisted of townhouses and properties in estates. The most popular and sought-after property is a three-bedroom simplex that sells for around R1,5m. The majority of buyers are middle aged (36 – 49) followed by the more mature buyer (50 – 64), with an average household monthly income of between R43,000 and R51,000.
What is currently happening in the property market in this area?
Eldoraigne is an area boasting professional buyers who are local, from out of town, as well as internationals. They range between 36 – 49 years old. Eldoraigne also boasts lots of security estates. Although there is still a high percentage of freehold standing homes outside of security estates, the sales growth on freehold standing homes in security estates is much higher. This also applies to sectional scheme homes. The sales market value of homes in Eldoraigne is between R1,5m and R3,5m. Eldoraigne also offers a large stock of sectional titles ranging between R800,000 – R1,5m. This market is usually for the young-adult generation, 20 – 35 years old.
What attracts buyers to Eldoraigne?
Lying in the western parts of Centurion, Eldoraigne is a fairly modern suburb that classes itself as upmarket. There are a series of boomed townhouse villages that offer security and it is an ideal location for first time homeowners or those wanting easy access to Pretoria or Midrand. Eldoraigne also offers easy access to main roads and there are a fair number of green belts that, despite being in a fairly built-up area, allow for a feeling of living on the fringes of the major cities of Johannesburg or Pretoria. Eldoraigne makes for peaceful living and this is one of its main attractions.
This article originally appeared in Neighbourhood, Sunday Times.
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