Home values in Erinvale Estate up by 32% from 2015 to 2016
Category News
David Colley of Seeff in Somerset West, says that generally speaking, prices in Erinvale have been on the rise and agents have observed a massive leap in sales values where the average home price escalated by 32% from R5.9 million in 2015 to R7.9 million in 2016.
“Three homes in the higher price bracket which sold at R18 750 000, R 16 700 000 and R 14 500 000 are partly responsible for this escalation and it is an extremely positive sign that people are keen to invest at such a price point in Erinvale Estate. We find that the security, exclusivity and lifestyle aspects appeal to many, especially those relocating from Johannesburg”.
Colley continues that Erinvale generally attracts a more mature market and that 89% of recent buyers were 50 years or older, while 11% are aged between 36 and 49 years.
“While Erinvale mostly consists of freehold property (almost 90%), around 10% is sectional title. There are two sectional title schemes called Glen Abbey and Erin Oaks. Both of these schemes are often used as secondary residences, holiday homes and by 'swallows' wanting a lock-up-and-go property. In 2016 the average sales price for a sectional title unit was close to R4 million.
Prices on the estate are largely determined by the location, erf size, building size and view. While modern homes definitely fetch higher prices when compared to homes that haven't been updated, the biggest factor remains the location and view”.
Colley concludes that he currently has the sole mandate of a Stefan Antoni designed home perfectly situated in Erinvale Estate with stunning views of the mountain, golf course, Lourensford farm and Helderberg Nature Reserve. The house is being marketed at R16 750 000.
“Spacious, open-plan living areas flow from room to room, boasting high ceilings and timeless design. The modern kitchen is open-plan to the family room and dining room and has an island, breakfast bar and culinary luxuries including Miele appliances.
Flowing on from the family room is a den which is the perfect spot to play snooker with guests on a grand, seven-eighth sized pool table and a bar which leads into a private TV room with surround sound and air-conditioning.
The lounge is home to a wood-burning fireplace with large glass doors. In summer these doors, along with those of the family room and den, open up to a large, undercover patio and a solar-heated pool.
All four bedrooms are en-suite and are found on the east wing of the house. Each bathroom is marble-clad and home to heated towel rails and underfloor heating. The main bedroom boasts glorious views of the mountain.”
Please visit www.seeff.com and enter web ref 408289 or contact David Colley on 072 426 9368 for more information.
Author: Seeff
Beyond your expectation