There are pros and cons to living in most suburbs. In the case of Mindalore in Mogale City, the area’s good value for money starter homes are a major draw card, yet the suburb’s distance from major business nodes such as Sandton and the inner city can be somewhat off-putting. So says Elsabe Ungerer of Maximus Realty which services the area.
Mindalore is a well-established, entry level suburb characterised by a mix of freehold and Sectional Title properties. Mindalore’s freehold properties typically comprise two bedrooms, one or two bathrooms and two car garages all of which usually sit astride spacious plots. Some homes feature a pool and the majority are well maintained says Ungerer. The suburb’s Sectional Title properties typically take the form of basic one or two bedroom lock-up-and-go type apartments.
According to the latest Lightstone report on the area, 65 freehold properties sold in Mindalore in 2011, roughly double the amount which sold in 2010. In 2010, the average freehold price stood at R604 000. In 2011, freehold properties sold for R682 000 on average. In other words, freehold properties in Mindalore increased in value by R78 000 which is promising for those seeking to make a decent return on their freehold investment.
In 2011, Mindalore’s Sectional Title properties sold for R340 000 on average. Unfortunately, unlike Mindalore’s 2010/ 2011 freehold performance, prices achieved were down from 2010’s average of R353 000 despite an increase in sales from 20 to 32. According to Ungerer, many entry level buyers with young families gravitate towards Mindalore’s freehold homes given the excellent value for money they yield.
“Entry level buyers are hard put to find spacious freehold homes of Mindalore’s calibre at such good prices anywhere else,” explains Ungerer. “Unfortunately the suburb is considered ‘far flung’ which puts off those who have to travel to their places of work at other major nodes. The fact that petrol prices are increasing and tolls might soon become a reality doesn’t help matters.
“At the end of the day, it all depends on whether or not buyers are willing to compromise between owning a good quality, entry level home and having to possibly travel a fair distance to get to work.” Interestingly, Ungerer attributes the high level of activity in Mindalore to the fact that a number of residents are in fact finding the increasing cost of travel too onerous. That said, she says many residents are also simply upgrading to other suburbs. She adds that much of the activity can be attributed to the fact that residents from the nearby township of Kagiso are starting to buy property in the area.
“Increasingly, Kagiso residents are moving into Mindalore given its affordability and the fact that it enables them to stay within close proximity of their friends and family in the township. The fact that Mindalore is well serviced by a number of retail facilities, hospitals and schools is also attracting these buyers to the area.”