Pinelands, the 80 year old suburb sited just 10 km from the centre of Cape Town, has proved to be one of the steadiest performers on the Cape property scene, say Craig Gilfillan and Pauline Hareb of the Rawson Properties Pinelands Franchise. Hareb has been working in the area for a year and Gilfillan, who also owns the Observatory franchise, is now there full time.
Gilfillan reported recently that in the last three years there have been steady, albeit unspectacular, price rises in all Pinelands residential property. The average price of a home in Pinelands in 2010 was R1,7 million, in 2011 it rose to R1, 850,000 and now it is R1, 975,000.
This, added Hareb, should not give the impression that sales in Pinelands are buoyant – the truth is that all estate agents throughout the area are experiencing shortages of stock. Furthermore, some of the homes on the market are priced as if an imminent boom in price rises will take place soon.
This, said Gilfillan, is not an entirely unreasonable expectation – he predicts that by the end of 2013 prices will have risen by 12%. However, he warns that those overpricing now will find that their home sticks on the market and that this is likely to prejudice future attempts to sell it.
Pinelands, said Hareb, offers buyers a very wide variety of price options. While the bulk of the fast selling property is in the R1,6 million to R2,5 million bracket, it is also possible to buy for as low as R450,000 (for a bachelor unit in the Anfield Security Village) or to go as high asR4 million for a substantial typical three bedroom home built possibly in the 1960s or 1970s and sited on a plot of 1,300 m2 or even larger.
What is it that fuels the on-going demand for homes in Pinelands and makes it so sought after by the upwardly mobile young professional and management set?
Hareb said that its position is ‘near perfect’ because it is close to the Cape Town CBD, to UCT and to the entire freeway network. Then, too, it has excellent schools, extensive sports facilities (running, cycling, squash, tennis, bowls, cricket and soccer) and it is well served by churches. The large Howard Centre, recently upgraded, also attracts shoppers year round.
How does an agent respond when faced with stock shortages? The answer is that they have to canvass harder, expand their manpower and market their brand actively. The Rawson Pinelands franchise is doing all this and Gilfillan himself is now working there full time to help realize the future potential of the area.
Good examples of the variety of homes on offer at Pinelands right now are shown by three homes currently for sale on the Rawson Properties’ stock list.
These are:
Gilfillan reported recently that in the last three years there have been steady, albeit unspectacular, price rises in all Pinelands residential property. The average price of a home in Pinelands in 2010 was R1,7 million, in 2011 it rose to R1, 850,000 and now it is R1, 975,000.
This, added Hareb, should not give the impression that sales in Pinelands are buoyant – the truth is that all estate agents throughout the area are experiencing shortages of stock. Furthermore, some of the homes on the market are priced as if an imminent boom in price rises will take place soon.
This, said Gilfillan, is not an entirely unreasonable expectation – he predicts that by the end of 2013 prices will have risen by 12%. However, he warns that those overpricing now will find that their home sticks on the market and that this is likely to prejudice future attempts to sell it.
Pinelands, said Hareb, offers buyers a very wide variety of price options. While the bulk of the fast selling property is in the R1,6 million to R2,5 million bracket, it is also possible to buy for as low as R450,000 (for a bachelor unit in the Anfield Security Village) or to go as high asR4 million for a substantial typical three bedroom home built possibly in the 1960s or 1970s and sited on a plot of 1,300 m2 or even larger.
What is it that fuels the on-going demand for homes in Pinelands and makes it so sought after by the upwardly mobile young professional and management set?
Hareb said that its position is ‘near perfect’ because it is close to the Cape Town CBD, to UCT and to the entire freeway network. Then, too, it has excellent schools, extensive sports facilities (running, cycling, squash, tennis, bowls, cricket and soccer) and it is well served by churches. The large Howard Centre, recently upgraded, also attracts shoppers year round.
How does an agent respond when faced with stock shortages? The answer is that they have to canvass harder, expand their manpower and market their brand actively. The Rawson Pinelands franchise is doing all this and Gilfillan himself is now working there full time to help realize the future potential of the area.
Good examples of the variety of homes on offer at Pinelands right now are shown by three homes currently for sale on the Rawson Properties’ stock list.
These are:
- A R545, 000 single bedroom sectional title apartment at the Anfield Village Security Estate. This unit, which overlooks the golf course and has panoramic views of Devils Peak and sections of Table Mountain, is always bright and sun-filled and, like all Anfield units, is extremely secure because of the stringent guarding and protection measures implemented at this project.
- A ‘neat and sweet’ three bedroom, two bathroom cluster home. This is priced at R1, 480,000. At its rear it has a wooden deck, a braai, entertainment area and a well-cared for garden.
- A typical solid and beautifully built, three bedroom, double storey Pinelands mansion of the kind for which the whole area is famous. This home, with its beautiful finishes, is complemented on one side by a large cottage, also with three bedrooms, and excellent mountain views. The garden has an outdoor entertainment patio attached to the main house, as well as, a swimming pool. The price for these two homes on one erf is
R2, 8 million, which, considering that the cottage could be rented for R 7 000 per month, is, said Gilfillan, an extremely good buy opportunity.
