Parow Val­ley sell­ers need to price their prop­er­ties cor­rectly

Weekend Argus (Saturday Edition) - - PROPERTY -

BE­LOW the N1 just south of Voortrekker Road lies Parow Val­ley – a sub­urb char­ac­terised by its long, straight streets, large prop­er­ties, and multi-cul­tural res­i­dents.

Bi­sected by De La Rey Street, the two halves of the neigh­bour­hood are Klip­kop on the east and Parow Val­ley on the west.

Each of these ar­eas of­fers a slightly dif­fer­ent prop­erty pro­file, but they share a com­mon at­mos­phere and com­mu­nity spirit, says Alvin Suk­lall, the Raw­son Prop­erty Group’s lo­cal fran­chisee here.

“Parow Val­ley, as a whole, is an ex­cep­tion­ally cen­tral, con­ve­nient place to live. We’re only 8km from the air­port and 20km from the CBD, and have a full range of pub­lic trans­port op­tions all within walk­ing dis­tance of most of the neigh­bour­hood.

“We have a lo­cal shop­ping cen­tre, a Pick ‘ n Pay and a Builders’ Ware­house, Tyger­berg and Melomed Hos­pi­tals for health­care, Saffier Pri­mary School, North­link Col­lege, and Unisa, CPUT and UWC cam­puses. There’s re­ally very lit­tle that you won’t find in Parow Val­ley.”

Prop­erty styles in the area vary from orig­i­nal fifties ar­chi­tec­ture to modern ren­o­va­tions, but the av­er­age home is a sin­gle storey, three-bed­room fam­ily-style house with one to two bath­rooms and a garage, on around 496m of land.

One- and two- bed­room flats are also avail­able. Homes on the Klip­kop side of De La Rey Street are slightly smaller at slightly higher prices – a re­sult of its gen­eral pop­u­lar­ity and prox­im­ity to Tyger­berg Hos­pi­tal. The Parow Val­ley side, on the other hand, has larger prop­er­ties at lower prices, but its homes aren’t al­ways as modern or fea­ture-rich as it’s east­ern neigh­bour, says Suk­lali.

“The whole sub­urb is very af­ford­able com­pared to nearby ar­eas,” says Suk­lall, “In gen­eral most houses will fall within the R900 000 to R1.3 mil­lion range, with the oc­ca­sional fixer-up­per for R750 000 or so. Apart­ments, on the other hand, will cost be­tween R450 000 and R550 000 for an av­er­age two bed­room unit.”

He says there is strong de­mand for prop­erty in Parow Val­ley, par­tic­u­larly among the 35 to 50- year- old age group. Qual­i­fied buy­ers, how­ever, are less com­mon, and Suk­lall urges sell­ers to price their homes re­al­is­ti­cally.

“Buy­ers at the mo­ment are ex­tremely choosey, and are of­fer­ing what they be­lieve the prop­erty is worth, re­gard­less of the list­ing price,” says Suk­lall.

He says pop­u­lar buyer re­quests are fit­ted kitchens, built-in cup­boards, en­ter­tain­ment ar­eas with built-in braais, well-tended gar­dens and spa­cious rooms.

Ren­tal prop­er­ties in Parow Val­ley are also pop­u­lar, and sell­ers may be tempted to let their prop­erty in­stead of sell­ing. Suk­lall, how­ever, cau­tions prospec­tive land­lords not to ex­pect a has­sle-free ex­pe­ri­ence.

“The ten­ant pool is there, but a lot of land­lords are strug­gling with un­re­li­able or dis­hon­est oc­cu­pants at the mo­ment,” he says.

That doesn’t mean prop­erty in Parow Val­ley is a poor in­vest­ment, how­ever – Suk­lall ex­pects an av­er­age cap­i­tal ap­pre­ci­a­tion of 8 to 10 per­cent a year.

“Prices are still ris­ing, and smart prop­erty own­ers who do the right im­prove­ments with­out over­cap­i­tal­is­ing can re­alise good re­turns over the av­er­age own­er­ship pe­riod of five to seven years,” he says.

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