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A home for everyone in Pietermaritzburg

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Playfully dubbed 'Sleepy Hollow' by residents, Pietermaritzburg is often dismissed as Durban's less prestigious sibling city. Its position as administrative capital of KwaZulu-Natal, combined with its importance as an industrial hub for the aluminium, timber and dairy industries, has never quite managed to overcome its reputation for being a small town disguised as a city.

Situated in Chase Valley Heights, this home offers three bedrooms, two bathrooms, an open plan lounge and dining area, staff accommodation and double garage. It is on the market for R1.295 million - click here to view.

Nonetheless, Pietermaritzburg is renowned for inspiring a deep loyalty in its long-term residents, while also attracting increasing numbers of new professionals and families looking to escape the big city rush.

This is according to Mark Truter, the Rawson Property Group's Pietermaritzburg Townbush Road franchisee, who says the quality of the schools, the University of KwaZulu-Natal (UKZN) and the thriving industrial sector means Pietermaritzburg will always have a drawcard to attract new families and professionals.

He says this is great news for the property market, because it means the value of property is expected to remain healthy.

Properties in Pietermaritzburg are as varied as its population, ranging from bachelor apartments catering for student budgets to sprawling family mansions that have been passed down through numerous generations.

Tradition plays a role in people's property choices here, Truter says, citing the comradery of the 'Old Boy's Club' of  Pietermaritzburg's residents. He says there are a lot of people who grew up in the area, attended one of the world-class schools nearby and are now raising their own families in the same suburbs they've lived in all their lives.

The more traditional, large, family properties tend to be found in the Northern Suburbs, including Montrose, Oak Park and Chase Valley.

"The area has a parkland feel to it and is surrounded by forests, with properties ranging from 1 500sqm to 1 900sqm. Most of the houses have been renovated to luxury standards, and prices are generally upwards of R2.5 million."

Not all properties in the north are huge family homes however, and Truter says he has noticed an increase in demand for complexes in the area. He says this is partially because of older folk downscaling, but wanting to remain close to the rest of their family. Another important factor boosting demand for complexes in the area is the proximity to Grey's Hospital. As a teaching hospital, Truter says it brings around 120 new interns into the area every year. For them, he says living nearby is the ultimate convenience.

The well-regarded University of KwaZulu-Natal also brings its share of students to Pietermaritzburg. "Scottsville is popular with UKZN students and a lot of the homes in the area have cottages which the owners rent out."

He says this has actually become a dominant factor in buying decisions in the area, since the rental income is a great way for owners to offset their costs. Scottsville is an excellent suburb for buy-to-let investments as well. "The constant flow of students means there's always a demand for affordable apartments."

Truter says younger, smaller, mid-income families tend to prefer suburbs like Hayfields, where a standard three bedroom, two bathroom family home on about 1 200sqm will generally cost under R1.8 million.

He says there are more affordable gated townhouse complexes here as well, and demand for these kinds of properties continues to increase.

According to Truter, reasonably-priced downscaling options and mid to upmarket gated community properties are the darlings of the property market across most of Pietermaritzburg at the moment.

Buyers are making educated buying decisions and are dedicated to ensuring their purchases will meet their needs in a specific price range, he says. There have been cases where upmarket properties have sold quickly as well, but this has invariably been due to their position, and not their price, he says.

Author: Property 24

Submitted 13 Dec 19 / Views 59
 
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