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Wilgeheuwel Suburb Stats

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Area Summary / Wilgeheuwel (Stats quoted from a recent Lightstone Report)

Wilgeheuwel Suburb

Wilgeheuwel is one of the main and most popular residential suburbs when traveling north from the Westrand / Krugersdorp area. Situated near Clearwater Mall and +/- 10km away from Cradlestone Mall along Hendrik Potgieter this area is extremely popular amongst Property Investors, Tenants and Homeowners as the area is very central with easy access to main roads when traveling for work towards the West or the North. Another reason why Wilgeheuwel is so popular is because of its property prices. The area consists mainly of Sectional Title properties with the breakdown looking as follows:

Wilgeheuwel Market Stock:

Freehold in Estates = 3.67% (165)
Sectional Title Units in Estates = 5.30% (238)
Freehold = 8.88% (399)
Sectional Title Units = 82.15% (3691)

Sectional Title properties contributing to 87.45% of the total market stock with 3929 properties / units. These units vary from 50m², 1 bedroom apartments / flats selling from R 400 000 to 150 to 200+m², 3 to 4 bedroom properties selling above the R 1 500 000 mark with some exceptions.

A total of R 328 transfers / sales happened in the last 12 months where 299 properties were Sectional Title sales between R 400k and R 1.5k. When looking at some of the demographics for the suburb, the average monthly household income range between R 40 000 to R 50 000 and most of the buyers are between 36 and 49 years.

Average property sales values for the last 12 months:

  1. Properties between R 400 000 and R 1 500 000 / 299 properties with a total sales value of R 258 781 000 = an average sales value of R 865 488.
  2. Properties between R 800 000 and R 1 500 000 / 169 properties with a total sales value of R 174 522 000 = an average sales value of R 1 032 674.
Area Growth

From our own experience, the following properties are extremely popular in the Wilgeheuwel area and if priced right, could sell within days of going to the market:

  1. 2 Bedroom 2 Bathroom Double garage properties listed between R 800 000 to R 950 000 …. These properties are roughly between 80m² to 100m²
  2. 3 Bedroom 2 Bathroom Double garage properties listed between R 1 000 000 to 1 300 000 …. These properties are roughly between 120m² to 150m²

Simplex (single level) properties are more popular than duplex (double level) properties and will attract more buyers. Duplex properties where all the bedrooms are on the same level at least is also more popular.

5 Factors that will make your property sell quicker (price excluded):

  1. Neat, well looked after property, no clutter … can still be old but neat.
  2. Light colours, tiles, laminate floors instead of carpets.
  3. Freshly painted walls, ceilings door / window frames & doors.
  4. Neat, well looked after garden.
  5. Additional extras such as gas hob, solar, energy saving fittings / lights, auto garage doors and good security.

If you are looking to get a true, market related valuation done on your property, give us a call, we work and stay in the area and will gladly assist we. We get daily enquiries for properties in the Wilgeheuwel and surrounding areas.

Call Juanita on 083 604 1231 or Marnus on 072 264 7806 or email us on juanita@steynrealty.co.za or marnus@steynrealty.co.za

All our stock can be viewed on our website at www.steynrelty.co.za and you are welcome to like and follow us on Facebook, Instagram and Twitter. We recently started a YouTube channel for all our virtual tours and other videos ….. please visit  https://www.youtube.com/channel/UCLGbOvvPjY6zMh2kAQDhHTQ

http://www.steynrealty.co.za

YOUR SALE IS OUR GOAL ….

To fix or not to fix ….. that is the question.

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Fixed Rates

To Fix or not to Fix …

No, this is not an article about property maintenance … … … there is a very different kind of fixing going on in the real estate industry.

As a homeowner with a bond repayment, you have the option of a variable / linked Lending Rate for your home loan repayment or you can apply to have the rate fixed at a specific level.

We recently asked Sanette Payne of Payneless Bonds (www.paynelessbonds.co.za) to share some info on this as this topic which frequently comes up in conversation with our clients. With the Prime Lending Rate being very low at 7.25% currently and said to reduce even further towards the end of the year, fixing your bond repayment rate might be a viable option for some homeowners.

Sanette had the following to say:

“We often get asked whether a fixed interest rate is possible.  The banks used to offer fixed interest rates upfront on bond approval, but this has unfortunately been cancelled and now you can only apply for a fixed rate after registration of your home loan.  It is important to understand that your fixed rate will be determined based on the period that the rate is fixed for and is generally significantly higher than your variable rate offered by the banks.”

In summary, by fixing your bond repayment rate, you protect yourself against future rises in the interest rate for the period that the rate is fixed but if the interest rate is reduced during the fixed period, you will lose out on any potential saving. All the banks have their own qualification criteria but in general, rates are fixed for between 12 to 60 months and at a rate of between 2% to 3% above the normal variable rate which is currently 7.25%.

To find out more about what your specific bank can offer you, here are some contact numbers supplied by Payneless Bonds:

ABSA: 0860 111 007

FNB: 087 730 1122

STD BANK: 0860 012 3001

NEDBANK: 0860 555 111

SA HOME LOANS: 0861 888 777

Please make sure that you get all the relevant info from your bank before you enter into a fixed rate agreement with your bank.

For all our stock, including photos, descriptions and virtual tours please visit our website or go to our YouTube channel where you can also subscribe to get all our latest videos. When listings with Steyn Realty, the standard services include:

  1. A detailed property value assessment including area trends.
  2. Professional high definition photos.
  3. Virtual tour posted to various websites as well as YouTube.
  4. Extensive web and social media exposure on various channels and platforms.

Please do not hesitate to contact us should you want us to assist you with the sale of your property. Our areas include all areas around Wilgeheuwel, Radiokop, Allen’s Nek, Strubens Vallei, Little Falls, Helderkruin, Constantia Kloof, Weltevreden Park, Ruimsig, Amorosa, Poortview, Tres Jolie etc.

Give us a call so we can chat.

Juanita Steyn on 083 604 1231 / juanita@steynrealty.co.za

Marnus Steyn on 072 264 7806 / marnus@steynrealty.co.za

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The South African Reserve Bank’s Monitory Policy Committee will be meeting on the following dates to decide on the Rate adjustments going forward:

21 – 23 July – next week

15 – 17 September

17 – 19 November

What’s News

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It’s been a while ….. between listing, marketing and advertising properties, managing rentals, taking photos, trying to update all the websites, social media platforms and now lately YouTube as well ….. it’s difficult to find time to blog.

Steyn Realty / Website / Facebook / Instagram / Twitter and YouTube

Since I last blogged we have been hit with Covid-19. Who would have through that one day, 26 March 2020, the country would be locked down due to a virus (more about my views on this later) but hey, this wasn’t a good experience, totally unforeseen and unplanned for. No work No pay as the saying goes ….

At least we had some deals in the pipeline and a couple of rentals to keep us going. Yesterday, 4 July 2020 saw 100 days since lock-down, at least we are able to work again and most people are getting back to the “new normal” bit by bit. Some of our tenants have been hit hard, not receiving salaries and some even losing their jobs all together. Not a nice situation to be in for anyone involved.

April & May 2020 was consumed by MARKETING! Not much else to do when you are sitting at home and you are not allowed to take out clients to see properties to buy or to rent. Once all the aspects and specifications of a specific property has been gone through and discussed with prospective buyers or tenants (which can be done telephonically or via other virtual platforms such as zoom etc) 99% of people want to SEE the property before making a final call. So except for marketing & communication not much could have been done during lock-down.

During this time, and in an effort to assist home owners with their bond repayments, the Prime Lending Rate has been reduced from 9.75% in Jan 2020 to 8.75% in March, 7.75% in April and the last interest rate cut was on 21 May 2020 where the Prime Lending Rate dropped to 7.25% ….. many reports are saying that we might see a further reduction towards the end of the year. This is the lowest rate that we have seen in more than 20 years. Can you believe that one of our Landlords even passed this saving onto the tenants as they knew the tenants were not able to earn an income during the lock-down period … … a fantastic gesture by the landlord to try and assist the tenant.

During this time we (Steyn Realty) have launched our new website through Entegral Technologies, http://www.steynrealty.co.za. We also got our YouTube channel off the ground where all our property videos, virtual tours and other will be posted and shared.

https://www.youtube.com/channel/UCLGbOvvPjY6zMh2kAQDhHTQ

We are extremely fortunate and blessed to have concluded several sales since 1 June 2020 when the lock-down was relaxed to allow us to take out clients again, masked, scanned and sanitized, we had buyers lined up and it paid off.

SOLD by STEYN REALTY

Areas where we have recently sold properties include, Honeydew Ridge, Northcliff, Ruimsig and Wilgeheuwel in Roodepoort.

Due to these properties selling we now have buyers lined up for similar properties. We are urgently looking for SELLERS selling in the same areas as above between R 850 000 to R 2 500 000, 2, 3 and 4 bedroom properties, apartments, townhouses, clusters and houses.

If you are reading this and you are interested in SELLING, please give us a call. Our marketing plan includes professional photos, virtual tours and property videos, listings on Property24 as well as our own website which feeds through some smaller property portals. All social media platforms are included where our friends and followers can see, comment and share our listings.

Look out for more blog posts to follow on our recent sales, the affect of Covid on our market, the benefit of virtual tours and pricing right for the current market.

Your SALE is our GOAL.

Cheers for eers. Hope you have a stunning week ahead.

Marnus

0722647806