What are the chief pricing and sales trends of Mondeor property composition?
Property values in this peaceful and increasingly popular suburb have seen a significant rise in the last few years, furthered by new developments in and around the area – a trend that doesn’t look as if it’ll end anytime soon.
Recent reports indicate that the Mondeor market stock composition comprises of close to 2350 properties – 66% of which are dominated by freehold or full tile properties, while sectional title and residential estate homes account for 33% and 1%, respectively.
68 successful freehold property sales were concluded over the last twelve months. Average sales prices have spanned from below the R 400 000 mark to an excess of R 2, 000 000 – with a total average price of just under R 1, 200 000. Small homes can sell for as little as R 500 000 while larger, beautifully designed masterpieces can command around R 5, 000 000.
A look at recent sales reveals asking prices of between R 1, 000 000 to R 2, 500 000 for homes anywhere from 3 bedroom to larger houses ideal for guesthouse accommodation or similar use. It is possible to find farms or smallholdings and although comparatively fewer, these can sell for above R 20, 000 000 depending on extent.
The average freehold prices here are among the highest in regards to nearest town rankings, and subsequently higher than suburbs including Alan Manor to mention one. On a national level average prices are on par with the likes of Crawford in WC.
55 successful sectional title transfers took place over the past year with average prices ranging from under R 400 000 to over R 900 000 – bearing a combined overall average of about R 590 000. This average is virtually on par with the price as per current growth and activity trends, while falling short of the present average municipal valuation by approximately R 60 000. This places average sectional title pricing in Mondeor more or less similar to the likes of prices in Chrismar, WC, on a national level and also on par with places like Ferndale on a local scale.
Comparatively speaking there haven’t been many residential estate sales in the last twelve months, with 3 being recorded. This is to be expected as there simply aren’t many residential estate properties in the Mondeor area - as reflected by the minority market stock percentage. The current average price of R800 000 suggests excellent value for money when it comes to acquiring a dream residential estate home and as well as great investment potential for achieving a desirable ROI.
Mondeor offers a great spread in terms of property types, from beautifully expansive freehold and residential estate properties to various sectional title apartments catering to various preferences. Whether you’re looking for a quiet suburb to retire or searching for your first family home, Mondeor has an excellent range of properties to suit your needs.
Where is Mondeor situated, and what makes its location advantageous?
Often referred to as the Jewel of the South, Mondeor is a beautiful suburb located in the southern part of the greater Johannesburg area. Renowned for its tranquillity and peace away from the hustle and bustle of the city, residents are still able to access the CBD via a short 15 minute drive.
The area is very much a natural utopia – shattering preconceived notions that Johannesburg residents are forced to live in a bleak, urban landscape. Residents can even enjoy hiking through and enjoying the Klipriviersberg Municipal Nature Reserve.
What are some of the amenities that Mondeor property owners can expect?
Being in the Johannesburg area means that you’re never too far away from essential amenities – and Mondeor is no different. The suburb plays host to the Mondeor Police Station as well as several excellent healthcare facilities including the Mulbarton Hospital and the Glenada Clinic. Schools in the area include the Mondeor Primary School, Mondeor Secondary School as well as the Holy Cross Convent. There are also several outstanding shopping centres in the area, these include:the Mondeor Village Shopping Centre, the Columbine Shopping Centre and Southgate Shopping Centre.
Consult with proven expertise
When it comes to buying or selling real estate in Mondeor you need professional advice and reliable assistance. Our experienced agents can help you find your dream home or source the ideal buyer. To view our up-to-date listings or for further help, don’t hesitate to call us today.
Author: Barry Davies