Early birds pick Gautrain properties

Units in townhouse complexes near the Gautrain station in Centurion are starting to attract investor interest.

“Interest in these units is one of the signs of growing confidence in the area,” says Riëtte Oosthuizen, office manager at the local RealNet office.

“We expect demand for units in Die Hoewes, near the centre of Centurion, to pick up considerably within the next 12 months or so as the station complex nears completion. But early bird investors are already targeting these units and are expecting to see good yields,” she says.

Standard two-bedroom, two-bathroom townhouses with lock-up garages in Die Hoewes currently sell at prices between R500 000 and R800 000.

Oosthuizen adds that townhouses and duets in areas such as Highveld, Wierdapark, Eldoraigne and Rooihuiskraal at prices of up to R1,3m are also increasingly finding buyers. “Buyer confidence has been boosted by lower interest rates and banks’ softened stance in approving bond applications.

“Although banks are still carefully vetting applicants, lower deposit requirements and, in some cases, 100% bonds being offered have stimulated demand in our area, especially among first-time buyers who now see their way clear to get a foot on the property ladder.

“In this regard, it is also pleasing to find that many first-time buyers have managed to save or otherwise obtain deposits of up to 10%, in sharp contrast to just a few months ago. This is an encouraging sign that new market entrants are taking homeownership seriously enough to put down some of their own money.”

The RealNet office, which recorded an impressive 300% growth in sales figures after a concerted marketing effort earlier this year, has maintained its sales levels and is now increasing agent numbers by 50% to do justice to local property sellers and buyers.

“Our own confidence matches the confidence of local buyers and we are in the process of preparing for an upswing,” says Oosthuizen.

Article by: www.realnet.co.za