23 Jan 2013
The Hartbeespoort area has grown over the years and has become a mecca for the affluent. ‘Harties’, as it is informally known, is synonymous with peace and tranquillity and due to its proximity to Johannesburg and Pretoria, is a popular destination for many city dwellers seeking a weekend out of town.
Consisting of predominately holiday homes and leisure-oriented venues around the dam, water sports are a main activity for most visitors. The area also has a variety of golf clubs and estates such as Pecanwood Estate, along with marina and yacht clubs.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says the property market in Schoemanville has reflected differently than most other regions in that buyers between the ages of 36 and 49 years old have been less active than other age groups.
He says the highest percentage of recent buyers have been between the ages of 50 and 64 and account for 32 percent of the buyers, followed by those ranging from 18 to 35 years old, who account for around 31 percent of the buyers.
The largest percentage of sellers have been those aged from 65 years and older, followed by those between 50 and 64 years old. These age groups represent 37.74 percent and 35.85 percent of the recent sellers respectively with 24 percent of the recent sellers in the 36 to 49 years old age group.
According to Lightstone, over 86 percent of the properties are freestanding homes, 9.13 percent are estates and 4.75 percent are sectional title units. Goslett says the average price of a sectional title unit during 2007 was greater than the average price of a freestanding home. However, only two sectional title units were sold during 2007, compared to the 60 freestanding homes sold and no sectional title units were sold in 2006 or 2008.
Last year, the average price of a freestanding home was R1.104 million, while the price of a sectional title unit was R430 000. The majority of the estate homes were bought during 2012 and were sold for between R800 000 and R1.5 million.
Nearly half of the properties sold during 2012 were priced between R800 000 to R1.5 million, making it the most sought after price category in the area. A demand for higher priced houses can be seen as 37 percent of the property sold in the same period was priced between R1.5 million to R3 million.
Goslett says the picturesque setting and lifestyle on offer make the demand for property in the Hartbeespoort suburbs high among executives and people who have access to finance for holiday homes. The area is surrounded by water and mountains, a combination that never ceases to have an impact on those seeking time away from the city humdrum.
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