PROPERTY: Buyers Return to Pretoria's Moot Area
Recent Gauteng Business News
Attractive prices and abundant stock are once again drawing homebuyers to Pretoria’s popular Moot area. Jaco Bouwer, owner of the local Chas Everitt International office, says buyer interest in the area has increased fourfold since the middle of the year.
“Buyers are, however, doing their homework and can afford to take their time to hunt for homes that will suit their lifestyles as well as their pockets.”
He says that prices are starting to stabilise, but are still at levels last seen in 2006 and that informed buyers are finding them very attractive. “They are also being encouraged by better access to bond finance and lower interest rates, which contributes greatly to affordability.
“In addition, many of the homeowners who have found themselves under pressure to afford repayments on their mortgage bonds are taking advantage of the bank programmes to help them market their properties before they are foreclosed, and these properties are generally marketed at very competitive prices.”
Prices in the Moot start at around R400 000 for apartments and R700 000 for houses. There is high demand in suburbs such as Waverley, where large family homes can be bought for around R1,1m, but the highest turnovers at the moment are being achieved in suburbs such as Rietfontein and Villieria where three-bedroom, two-bathroom homes are selling for between R750 000 and R1m.
Business News Sector Tags: Property|