The sedate and stately borough of Westville, near Durban in KZN, is getting a new lease of life as buyers with young families target the area because of its excellent schools and central location.
And this revival has prompted Liz and Clint Ellice, owners of the Chas Everitt International Upper Highway office in Kloof, to open a second franchise in Westville.
“This is a very established, tranquil and sought-after area,” says Clint, “and people who live in Westville don’t like to move away. However, there are now a few new developments of upmarket townhouses and clusters on subdivisions of the old two-acre stands, and this is making it possible for older homeowners to downscale without leaving Westville – and for younger buyers to come in and buy family homes close to excellent schools, and also just 20km from the centre of Durban.
“There is definitely more movement in the area’s property market now and we think the timing is right to spread our wings to Westville, especially since we have been able to recruit an existing team of agents who are already well-known and experienced in this area. Our new office is also very well located in a prominent position on Jan Hofmeyr Road.”
Home prices in the Westville area start at around R1,1m for properties in Westville North, but the properties in most demand at the moment are four-bedroom freehold homes on 2000sqm stands, priced at between R1,5m and R1,6m – or some 10% less than at the start of the recession in 2009.
Clint says professionals and executives with good credit records are able to obtain 90% bonds for such properties with relative ease, and that many of the new buyers coming in are also spending sizeable additional amounts to renovate and modernize the older homes. Meanwhile, the newer luxury townhouses and clusters in the area are selling at prices starting from around R2,2m.
“There is also a steady demand for rental properties in the area, but a severe shortage of stock, so monthly rentals can be expected to rise soon from their current level of between R7000 and R9000.”
Chas Everitt International sales director Barry Davies says the new Westville office is a welcome addition to the group’s expanding presence in KwaZulu-Natal. “Our plan is to have a strategic network covering all the busiest and most sought-after areas of the region, and this takes us nearer that goal. We are also delighted that the office will be in the hands of Liz and Clint Elllice, who have amply shown their mettle and capabilities in building their Kloof office into a really strong performer within the group.”
ISSUED BY CHAS EVERITT INTERNATIONAL
FOR FURTHER INFORMATION CALL
BERRY EVERITT ON
011-801-2500 OR VISIT
www.chaseveritt.com