PINETOWN IS FLYING
Category General News
What’s happening in Pinetown? Of all the branches throughout KwaZulu-Natal, Wakefields’ Pinetown branch is a hive of activity. The question is why...and what do those buyers know that we don’t?
Pinetown sounds like a single suburb, but in reality, the team based there covers a large area of mini suburbs, all of different price ranges and accommodation types. Pinetown encompasses New Germany, Padfield Park, Hatton Estates, Manors, Sarnia, Farningham Ridge, Marianhill Park, Caversham Glen, Moseley, Central Pinetown, Nagina, Marrianridge Ridge and Kwa Ndengezi. It’s a vast area with property to suit singles, families, even retirees.
Affordability is a big driver here, where families are still able to buy a great home in the range R800 000 to R1,2m. That’s not possible in many other areas.
But equally, convenience plays a big role, because these areas are so well positioned for those who work in the major local industries. For somebody who works at Toyota, Eskom, Smiths Manufacturing, textile factories or the many construction companies, New Germany couldn’t be more convenient. The suburb is also just as convenient for those employed in the industrial sectors of Westmead and Maxmead.
The suburbs are also a stone’s throw from all major freeways, so even if you don’t work locally, you don’t have an onerous time in traffic.
A significant number of prospective buyers work in industry in Pinetown, or teach at the schools, work in the hospital, or in retail or restaurants. The area has a vast array of employment opportunities, and is well serviced by the Metro busses or minibus taxi system - on the cards for September 2017, is the new Go!Durban public transport system which will link Pinetown to the northern areas of Kwa Mashu and King Shaka International Airport.
For retail, Pinetown has it all - shopping centres such as Pinecrest, Knowles Spar and Checkers St John’s – and for medical care, the reputable St Mary’s Hospital and Crompton Hospital serve the community well.
Families are drawn to Pinetown for other reasons too, namely the reputable schools and care facilities for working parents – numerous good day care facilities, pre-primary all the way to senior, as well as the tertiary education opportunities presented by Pinetown Technical College and Edgewood College. Good Schools include Pinetown Girls and Boys High Schools, Benjamin Pine, Ashley Primary, Gelofte, New Germany Primary, Lyndhurst Primary, and John Wesley.
Pinetown is the perfect suburb for first-time homeowners, who are now able to buy houses for themselves or their families. The lending institutions are providing 100 percent bonds to credit-worthy clients, although many who would like to buy still fall down on the scoring for affordability, credit rating and a lack of a deposit.
There’s little doubt that more and more entry level buyers are learning the importance of having a clean credit history – making sure they do what it takes to rid themselves of that blot on their rating - saving for a deposit, and ideally being pre-approved for a home loan before the disappointment of not being able to buy.
Because so many buyers are looking to buy and live in Pinetown and surrounds - and there’s limited land for new developments - there’s pressure on the market there. Buyers need to make up their minds fast on a property, because it’s here today, gone tomorrow. The houses are generally old-style, but well maintained; apartments or townhouses in sectional title developments are likely to be more modern, and concentrated in New Germany and Ashley.
As with all increasingly popular areas, stock is limited and that drives up prices. For those buy-to-let investors who had the vision to identify Pinetown as an up-and-coming property hotspot – particularly with flats in Pinetown - it’s been a solid investment. Compared to three years ago, a R450 000 one-bedroomed apartment will cost you R550,000 today; a R600 000 two bedroom will cost R750 000; and a three bed has risen from R750 000 to R900 000. If you’d bought a house three years ago, it would have cost you R900 000, and you’ll pay R1,2m today.
Author: Anne Schauffer