In the area 2 Louis Trichardt
property market in the small Limpopo town of Louis Trichardt is weathering
the downturn better than most.
So says Jana Smith, principal of leading local agency Homenet Jana Marie, who notes that property prices in the town have remained fairly stable over the past six months with no real decline. Foreclosures and auctions have yet to occur on any scale, retail and residential development is going ahead and enquiries and sales have remained brisk.
Louis Trichardt has a number of factors in its favour, she says. For a start we have a strong farming community (game, tropical fruit) which supplements the local demand for accommodation. The town is also a popular tourist destination famous for its baobab trees and rare bird species as well as game watching, hiking and mountain climbing and biking facilities, and this boosts the demand for guesthouses and B&Bs.
Also driving demand for property in the area is its proximity to Polokwane, the provincial capital, with many government employees preferring to live in Louis Trichardt and commute.
The town also enjoys a low crime rate, thanks largely to our excellent community police forum. Overall Louis Trichardt simply offers an appealing way of life which has a lot to do with why our properties have retained their values.
Freehold homes in the suburbs, Smith says, are currently selling for between R800 000 and R1,4m while sectional title units in the R1m to R1,4m bracket are selling well.
Meanwhile the emerging market in the area is also on the up. Many are seeking to upscale to the town from the nearby township of Thohoyandou, the old capital of Venda, where properties range in price from around R300 000 to R1m.
And in Makhado Park, a number of buyers from rural areas are beginning to filter in. Extension 8, which was been purpose built to serve this market, has proven particularly popular, with homes ranging in price from R300 000 to R600 000.
Article by: www.homenet.co.za