In the area 3 - Midrand

Thirty-somethings favour Midrand estates

Lifestyle estates in Midrand are recording solid sales thanks to sustained interest among established professional people.

Lynette Gregorowski of the local RealNet office says estates such as Midstream, Midlands and Midfields have lost none of their attraction in recent times for professional people in their thirties and early forties who are looking for family homes in a secure environment.

“The average age of buyers in these estates is 38 and they are mostly buyers pre-approved by lending institutions who have the necessary deposits on hand. In contrast to many other regions where transactions fall through because of economic constraints, almost no problems of this nature are evident in the Midrand estates,” she says.

This type of buyer typically targets large family homes of about 300sqm with good finishes in the price range between R1,8m and R2,5m.

Gregorowski adds that Midstream College, a private school catering for primary as well as high school learners, is a big draw card for such buyers. “The school has achieved an enviable track record and the fact that it is situated in a secure environment is a prime factor in many buyers’ decisions to settle in one of the estates.”

Midlands Estate currently offers a good selection of units, she says. “This is the latest addition to the trio of estates and developers have recently brought new stock on stream.”

The entry-level for the estates is around R1,5m, which will buy a three-bedroom family home with a study and staff quarters on a stand of between 600 and 800sqm.

Gregorowski says the only indication that current economic circumstances are having an impact on sales in the estates is that sales of properties with price tags of R5m and more have slowed down in the past few months.

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Sales steady in Midrand Estates

Homes in Midrand Estates, the “city within a city” near Centurion, are continuing to sell steadily despite the recession.

That’s the word from Linda Dunne, sales agent for the local Chas Everitt International franchise who says there are two main reasons for the development’s continuing popularity.

The first is of course location. Set halfway between Pretoria and Sandton, Midrand Estates offers residents much shorter commutes to major office nodes, which is especially a consideration for those using the M1 highway. “And secondly,” she says, “the development is rapidly shaping up as total lifestyle precinct complete with its own schools, shops and entertainment venues, which makes it a good choice for families.”

A club house, cricket oval, squash and tennis courts and 20m swimming pools have already been completed for residents’ use and there is also a shopping centre with a Super Spar as the anchor store as well as medical facilities, a post collection depot and a service station.

There are three separate villages making up Midrand Estates, the oldest of which is Midstream Estate, which offers stands of around 1000sqm at prices from R750 000 and full-title homes ranging in price from R2,1m to R8m. The best sellers in this village at the moment are properties priced around R2, 7m says Dunne, which are largely being bought by young executives.

A private pre-school, primary school and high school are situated in Midstream. Midstream also boasts an owl sanctuary and enjoys the same high-security provisions as the rest of the development. These include a double perimeter barrier, 24-hour patrols and controlled bio-metric fingerprint access via a manned gatehouse.

The second of the villages is Midfield Estate, which features homes at prices from R2,2m up and stands of 600sqm and more at prices from R500 000. This village lies alongside a 10-hole family golf course in a greenbelt interspersed with fly-fishing dams.

Midlands Estate is the newest of the three villages and construction is still under way on many of the homes here. Stand sizes range between 500sqm and 1200sqm and homes are typically more contemporary than those found in Midstream and Midfields. Homes here are selling for between R1,5m and R4m.

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