Wilgeheuwel proving to be a high demand area because its prices are right for today’s market.
The lovely suburb of Wilgeheuwel is situated 30 km west of the centre of Johannesburg. Wilgeheuwel has become a popular commuting base for Roodepoort, Krugersdorp, Johannesburg, Randburg, Sandton and Pretoria.
I am a RE/MAX Masters Sales Associate that’s serving the Wilgeheuwel and immediate surrounding areas. The latest Lightstone figures report shows that there are 2,500 homes in Security Estates, 8,537 in Sectional title developments and also 1,680 traditional freestanding homes within the Suburb of Wilgeheuwel. (and still growing!)
The average sales price of properties in recent months has been between R610,000 to R1480 000 for sectional title units and R1,890 000 upwards for Freehold cluster homes situated in security estates. Your traditional freestanding homes will fall in-between these two categories.
This, of course, means that this popular area conforms to high demand and it is an accepted fact that the area has established strong demand and rapid turnover for some years now.
This is due to people moving to the West Rand from Country districts and to a tendency within the area to upgrade if possible, but not to move elsewhere. Right now, however stock shortages are becoming a problem because some who previously would have carried on a regular upgrading process find that they could not afford to do so these days due to difficult political and a challenging financial climate in South Africa. This situation has been exaberated by certain owners having bonds that are higher than their property values would justify, who now have difficulty servicing them.
Despite these negative aspects, the area sales are currently increasing by 2,5% per annum and prices are rising by 3,5%.
Although demand remains high, the industry do not foresee a big upswing in prices for at least another 18 to 24 months.
Wilgeheuwel’s big advantage is that it offers real value for money. If you moved even a few kms closer to Johannesburg, prices rise significantly and very soon become double what one would pay here.
In these tight economic times it is essential for an Estate agent to be able to counsel sellers adequately so as to ensure that they make no hasty or ill-advised decisions. It is also important to be able to assist buyers in understanding the credit rulings and to help them prequalify for bonds.
It has to be recognized that we are now operating in an economic climate where debt levels tend to get out of hand. This is shown by the fact that South African household debt are now equal roughly to 70% of the GDP. A good Estate agent, therefore, has to be more than just a house seller, he has to be able to advise the client on the whole structuring of his finances.
So if you are a property buyer looking for a beautiful home that’s affordable, then our suburb of Wilgeheuwel is just for you. There is a good range of schools, shopping centers, businesses, private hospitals and an extensive transport network that most definitely contributes to our area’s popularity and value.
If you are in the market and looking to buy or sell a property in the Wilgeheuwel area, then please don’t hesitate to phone me personally, Morne Prinsloo from RE/MAX Masters on 079 047 5172.
Your willing and able Sales Associate at your service!