The good news in the Montana, Pretoria North, property sector is that confidence among buyers is returning after a lull period in the second half of 2013. This year, therefore, prices, which in this suburb range from R500,000 to R4 million, are set to rise by 3% to 4%, says Lee Bezuidenhout, the Rawson Property Group’s franchisee for Montana and Waterkloof.
Bezuidenhout, who in the two years that she has sold property for the Rawson Property Group in Montana, has come to know and understand the local market well, says that the suburb is to a large extent self-contained and the people there have a strong community spirit. This results in their being unwilling to leave, most preferring to upgrade in the area rather than to move to another precinct – and with an average price of R1,5 million, Montana is still, says Bezuidenhout, affordable to a large sector of the middle class buying market. What is more, with good retail centres, schools, and a golf driving range Montana is, Bezuidenhout believes, “just what many people are looking for”. Thirty percent of the local house stock is sectional title — which is particularly affordable. Even the freehold, higher priced homes still, in her opinion, offer very good value.
Right now, says Bezuidenhout, there are Montana agents selling two to three homes a month. However, she believes, this figure will almost certainly rise now that increased optimism and an upturn in the market are clearly becoming evident and, she adds, this upturn is definitely being assisted by the banks which have loosened up on their criteria and are now awarding bonds, including 100% bonds, far more easily than they did in the first half of last year.
“Montana homes, I believe,” says Bezuidenhout, “are an excellent middle class buy with a very good future. It is one of those precincts in which one can see the improvements and the quality of the housing increasing year by year.”