Buoy­ant de­mand for Oran­jezicht’s grand fam­ily homes

Weekend Argus (Saturday Edition) - - PROPERTY -

THE POP­U­LAR­ITY of Oran­jezicht in the City Bowl is at­trib­ut­able to its cen­tral lo­ca­tion and its re­sis­tance to largescale de­vel­op­ment, says Seeff agent Elaine Slot.

Al­though homes here are al­ways pop­u­lar, she says that de­mand this year has been buoy­ant, with sell­ers now get­ting sig­nif­i­cantly bet­ter prices than over the past five years.

“Sales ac­tiv­ity in the sub­urb is up by a sig­nif­i­cant 38 per­cent, with 91 prop­er­ties sold worth a com­bined value of al­most R380 mil­lion, com­pared to 66 sales worth R240m dur­ing the same pe­riod last year.

“The av­er­age dif f er­ence be­tween the listed and sale price is down to 7 per­cent from about 9.4 per­cent last year. The av­er­age price has also strength­ened year-on-year over the past five years and is now 18 per­cent higher at R5.3m for free­hold homes, up from R4.5m in 2008.”

She says that 32 prop­er­ties priced above R5m were sold this year, com­pared to 15 last year. Seeff ’s high-value sales in the sub­urb in­clude a four-bedr o o med h o me i n Buxt o n Av­enue, s o l d f o r R6. 0 5 m; a home in Wood­burn Cres­cent, sold for R6.8m; and an 11-bed­roomed home in sought-af­ter Bel­mont Av­enue, sold for R11m, one of the high­est prices for the sub­urb this year. Eight prop­er­ties worth al­most R35m were sold to for­eign buy­ers this year.

Aside from the CBD con­ve­niences, the Water­front and At­lantic seaboard beaches are all nearby. There are also ex­cel­lent schools in the area.

The most strik­ing char­ac­ter­is­tic of the sub­urb is its tree-lined streets dot­ted with Vic­to­rian, Ed­war­dian and Ge­or­gian homes. The lo­ca­tion at the base of Ta­ble Moun­tain af­fords res­i­dents moun­tain and city views. Aside from free­hold homes, there are blocks of flats, with units priced from R800 000 for one-bed­roomed flats.

Prices for Vic­to­rian semis range from R3.3m for three to four bed­rooms, and for free­hold homes from R4.5m for a 1950s three-bed­roomed home set on a 446m² plot. Buy­ers look­ing for a grand old homestead, though, can ex­pect to pay from R12.5m.

A 1905 Ed­war­dian manor house that dates to the early set­tle­ment of the sub­urb is for sale at R15.9m, says Slot.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.