Residential News

Hartbeespoort Dam area experiencing a boom in residential real estate

Secure estate and waterside living in easy reach of amenities in Fourways, Lone Hill, Bryanston and also Pretoria – and only about 30 minutes from Lanseria Airport – has seen the residential property market in the Hartbeespoort Dam area boom since lifting of the hard lockdown, says Pam Golding Properties area principal, Erika van der Westhuizen.

“This is very much a destination of choice in Gauteng, as evidenced by the growth experienced in the housing market in recent years. Our buyers are from around South Africa and some from abroad, comprising mainly primary home purchasers with some making leisure property acquisitions. Further fuelled by the flexibility to be able to work from home, over the past year we’ve noted a surge in younger and first-time buyers, as well as those in the middle-age category,” says van der Westhuizen.

“In fact, more than a quarter of recent buyers (March 2020 to February 2021) were 35 years or younger, comprising mostly young families drawn by the very appealing lifestyle, secure outdoor environment with scenic views of the Magaliesberg Mountains, proximity to good schools and the convenience of being able to work from home. Such is the demand for homes in this area that we are constantly seeking stock both for sale and to rent. This is borne out by the fact that despite the impact of Covid-19 and the lockdown we sold homes well over R200 million in total value for the 12 months to February 2021.

“Freehold homes in estates dominate this market, challenging even Ballito as a centre with a high offering of estate homes. However, sectional title homes are a close second in terms of sales, with secure living what everyone is looking for. Our vacant land sales have also increased.”

Van der Westhuizen says that freehold estate homes command a premium price as much as 25-30% higher than freehold homes which are not located within estates. “The demand continues with the bulk of demand for sectional title homes in the R1.5 million plus price range with houses on estates between R2 million and R3 million most sought after. Encouragingly, we are still experiencing good momentum in activity regarding higher priced properties in lifestyle estates in the R5 million to R8 million price bracket.”

She adds that two-thirds of all homes in Hartbeespoort, or ‘Harties’ as it is affectionately known, are in secure estates, with the vast majority being freehold.

“Homes in the larger lifestyle estates such as Pecanwood, Coves, Westlake, Birdwood, Xanadu and Magalies Park sell for an average price of R2.8 million with sectional title homes at an average of R1.5 million. In estates such as Coves, Caribbean, Leloko, Xanadu, Birdwood, Montego Bay and Mount Kos, prices of sectional title apartments and townhouses range from R1.3 million to
R2.2 million. However, due to the high demand and limited supply we see that prices of residential property across the board are on the increase. It is also expected that a saturation of land sales in recent years could prompt a cycle of increased demand for vacant plots which in turn will push prices up.”

The lifestyle attractions of living in a secure residential estate in Hartbeespoort are not to be underestimated. In Pecanwood for example, where full title homes range from R2.5 million to R15 million, there are two restaurants, a gym, health and beauty spa, golf, boating, tennis courts and swimming pool plus a 24-hour paramedic on call – the cost of which is included in the levy. You can also obtain golf, tennis, swimming and rugby coaching on the estate from top well-known trainers and coaches.

Adds van der Westhuizen: “Hartbeespoort has much to offer residents and visitors alike in terms of leisure activities and scenic vistas. Our dam is looking good with the water clear and currently at only 7% hyacinth coverage which is excellent, with the introduction of weevils having proven effective in controlling this on an ongoing basis.”