A little over two years ago I wrote an article that was featured in the Weekend Argus, in which I pointed out the potential investment growth offered in Uitzicht. Realising recently that the article was written during the economic doldrums, I decided that it would be a good idea to re-visit the topic now to see if there has been any significant change since then.
As you will see from the stats I have researched, the area has grown from being an up-and-coming opportunity (as stated in the Weekend Argus article) into a stable medium to long-term opportunity for property investors and home buyers. Please note that I am not only referring to those who wish to speculate on property, but those who are buying to live and realise growth in their investment.
New developments to stimulate demand
The recently completed De Dam 13 unit development beside the upper dam on Barcelona Street has sold exceptionally well and is close to sold-out (at the time of writing there was only 1 unit left). Two years ago it was only the exceptionally brave (and financially well covered) developer that would expose himself to the risk of a new project.
Villa Montana is currently constructing the third phase of sectional title apartments and is selling fast.
The extension of Welgevonden Estate behind Uitzicht Estate currently under preparation is due to break ground shortly. This new development will further uplift the area and properties there will satisfy demand for middle management housing created by the extension underway at the Fisantekraal Industrial area.
New road to further stimulate growth
The extension of Brackenfell Boulevard will link from Wellington Road and allow access all the way through to the N1. This will further increase demand for homes in Uitzicht and negate the current “it’s too far out for us” argument from buyers.
Due to the expansion of the area there is a massive increase in demand for schooling and Curro clearly identified this. They built the Curro Meridian school in lower Pinehurst that opened at the beginning of 2013 to service the growing population. The fee structure is more affordable than the conventional Curro private schools, but with many of the advantages the private school offers.
Uitzicht also has two creche and pre-primary schools, GeZiggies which currently accommodates approximately 130 children and Skilpadland approximately 260 children.
Now for the important investment information! Uitzicht comprises a total of 1425 residential erven and 6 sectional title schemes with 477 residential units. At last count there were 87 vacant plots. Looking at actual sales statistics, the following information was compiled using CMA Info.
OWN TITLE REGISTRATIONS
These statistics are for the year from September to September for own title actual registered transactions over the past three years. Clearly, the total spend and number of sales is only now beginning to show signs of recovery after a significant drop. However, the encouraging graphs below show that the average achieved price in 2013 is a confidence-boosting 12% up from 2011.
SECTIONAL TITLE REGISTRATIONS
Now we look at the sectional title data for the same period below. In this case the figures have all improved steadily into 2013, and we have experienced a healthy 16% growth in prices achieved.
A FINAL WORD
In closing we can see clearly that there is a very strong case to show that Uitzicht is a solid proposition for anyone looking for a secure investment. As with any investment, there will always be an element of risk from unanticipated external influences, so you must accept that there is never a guarantee these trends will continue. However, whether you are buying to rent or to live in yourself, the above figures demonstrate a steady growth over the past three years and this bodes well for the area as an opportunity for growth.