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Why buyers love Pretoria’s Irene Farm Villages

22 Mar 2019

Property price growth in Irene Farm Villages in Centurion, Gauteng, makes the estate a desirable home location.

This six bedroom, four-and-a-half bathroom house in Irene Farm Villages, Centurion, offers a large pyjama lounge, study, gym, undercover braai area and pool. It is on the market for R3.4 million - click here to view.

“Irene Farm Villages is one of the most sought after estates in Tshwane, with properties having held their values despite the depressed economy and an excess of available stock currently on the market,” says Peter Varrie, Pam Golding Properties Pretoria area specialists.

In addition to growing property prices, Varrie says the estate is very secure, extremely well run, annual levy increases are kept to a minimum and budgets are well controlled.

“The estate recently announced plans to rebuild the two entrance buildings, which were originally built by the developer. There are also plans to have a proper mountain trail biking track professionally designed and built within the estate,” he says.

This three bedroom, four bathroom house in Irene Farm Villages, Centurion, has a built-in braai, study, bar, landscaped garden and more. It is selling for R4.799 million - click here to view.

Varrie notes that Irene Farm Villages has consistently stayed one of the top five performing suburbs in terms of house price growth in the annual Financial Mail best suburbs surveys. In December 2018, the suburb was ranked second for achieving house price growth of 2.03% within a 12-month period, and third within a five-year period, recording growth of 31.94% for high-end homes priced between R3 million and R6 million.

“It is very pleasing to know that when living in this safe and tranquil estate your property is appreciating exceptionally well,” he says.

“Buyers come from all walks of life and share a common goal - wanting a peaceful environment to raise families in a secure open communal space. Properties range in price from approximately R2.65 million to the maximum selling price achieved by Pam Golding Properties of R6 million, although there are several properties in the estate that would exceed this selling price, should they come onto the market.”

This three bedroom, four bathroom home in Irene Farm Villages, Centurion, has an undercover braai area, bar and offers access to walking trails. It is selling R3.995 million - click here to view.

He says a lot of activity takes place in the R3 million to R4 million price bracket. For R3 million, you can buy a quality home with three bedrooms, two bathrooms, a study, staff accommodation, two garages and a swimming pool.

Recently, Varrie sold a three bedroom home with a spacious entertainment area, a double garage, staff accommodation and a swimming pool for R2.65 million.

He says the estate is a desirable place to live in, and it is close to the top of buyers' lists when looking to buy a new home. In fact, a fair percentage of his sales are to existing residents who do not wish to leave the estate. As their circumstances change, they buy properties that meet their requirements within the estate.

This four bedroom, three-and-a-half bathroom house in Irene Farm Villages, Centurion, offers an undercover patio with gas braai, pool and wooden deck. It is on the market for R3.75 million - click here to view.

In addition, residents partake in a number of activities including the annual Doggie Day Walk which took place on 1 September 2018, followed by a pop-up movie organised by Pam Golding Properties in conjunction with the homeowners' association board. This event focuses on collecting dog food for a selected animal shelter.

The annual Fun Day in December, a day of activities centred on Christmas, also has Father Christmas handing out gifts to children, making this a very popular community gathering. There are numerous other events where residents can get involved, such as collecting clothing and goods for the Koi San. On 20 April 2019, Pam Golding Properties in conjunction with Boshoff Attorneys will host an Easter egg hunt for children.

According to Lightstone data as of February 2019, the estate has 741 homes, of which 99.7% are freehold, with a median price of R2.86 million in 2018. The median price for freehold sales recorded in the first few weeks of 2019 has risen to R3.49 million.

This four bedroom, three-and-a-half bathroom house in Irene Farm Villages, Centurion, has an expansive undercover patio with built-in braai, a study and more. It is on the market for R3.6 million - click here to view.

Over the past 12 months, a total of 26 freehold homes were sold. Half of these fell into the R1.5 million to R3 million price band, while the other half fell into the top end of the market - those priced above the R3 million band. The average price of these homes was R3.17 million.

Furthermore, data shows that the housing market is dominated by middle-aged homeowners aged between 36 to 49 years, with more than half of stable homeowners, as well as recent buyers (past 12 months) falling into this age category - suggesting the estate appeals to families.

The estate also attracts a large number of young buyers, with nearly a third of recent buyers aged between 18 to 35 years, according to Lightstone. Many of these young buyers are likely to be buying their first home.

Over a five-year period, freehold homes at Irene Farm Villages have recorded growth of 4.1%-plus per annum and 46.8%-plus over a 10 year period of 2008 to 2018.

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