Page 13 - Kyalami_Issue 1_2022

PROPERTY NEWS

Both estates experienced stable growth in sales value Yet, as a community, there are also strategies we
from 2012 to 2017, but then over the last 4 years the can implement. The fact is, we have a number of
curve has flattened off. The overall 10-year trend is still key lifestyle differentiators in our favour such as the
positive, but there has been no real growth in property beautifully established gardens, privacy of our homes,
prices in the last 3 - 4 years, which correlates with the the amenities we have, the number of parks and
increasing supply trend shown on the previous graph. green spaces etc etc.
Average Asking Price
Average 2021 Selling Price Average Asking Price per Square Meter But it’s the newer estates that have been branding
Average 2021 Selling Price per Square
per square metre of Stand per square metre of Stand themselves (to make sales) so they are top of mind,
of Stand – January 2022
Meter of Stand for Q4 of 2021
(R’000)
(R’000)
for Q4 of 2021 – January 2022 and we know perception ultimately drives reality.
(R’000) (R’000)
6000 6000 5070 The more we can build our brand and its perceptual
5000 4092 5000 4807 positioning in the market (e.g. as ‘the best value
4000 3702 4000 estate for young families’) the more the demand and
3000 3000 the better our asset values.
2000 2000
1000 1000 Word of mouth and our internal events certainly help,
0 0 but the prevailing trend implies we may need to step
Fourways Gardens Kyalami Estates Fourways Gardens Kyalami Estates up the effort and invest more in our brand. In terms
of raising the funds to rebrand the estate, there
The graphs above drill down to a little more detail in are options and this is likely the next phase of the
terms of property value. The left-hand graph shows conversation. But, as an example, if hypothetically
the average selling price per square metre of the 0.25% (a quarter of a %) of the property sale price
stand in each estate for the last quarter of 2021. went into a marketing fund to build the brand, that
For example, an average home on a 1000m² stand would have equated to R796 000 in 2021. As
sold for R4 092m in Kyalami Estates over October – an agent, I would be happy to take this out of the
November 2021. The graph on the right shows the
average asking price (per square metre of the stand) commission to ensure a stronger brand, more buyers
for the properties listed on Prop24 in January 2022. and higher sales prices into the future.
In both estates, there is quite a large difference
between the asking and the actual selling prices, Valuing your Home in Kyalami Estates
with an approximate 20% differential between what In finishing off this article, here’s a quick and
is asked and what is being achieved in terms of the accurate formula on how to value your home. I have
final sales price. crunched the numbers for the last 130 Kyalami
Estates properties listed on Prop24 and actual sales
In Conclusion over the past year. The average asking price per m² of
As residents of Kyalami Estates, we have the dwelling is R11 072. But the stats show that we are
assurance that performance-wise we are on a par currently obtaining around 80% of list price, so real
with other estates of a similar profile. But we are not value would be R8 858 per m² of dwelling (house).
faring well compared to some of the newer estates So the average 475m² house in the estate would sell
and we are also experiencing a strong growth in for 475 x R8 858 = R4.2m. The expected sales price
supply at present, which will hopefully normalise over can move slightly above or below the average pending
time. So what can we do to buck this trend and get the comparable condition of your home, which an
the value line going upwards again? agent (hopefully me ) will certainly be able to guide
you on.
On an individual basis, home upgrades/
modernisation make a big difference and where the Wishing the Kyalami Estates Community a wonderful
typical home sells for 80% of list price you will be year ahead. Selling, buying or renting, myself and the
setting yourself up for 90% plus. RE/MAX ONE team will make it happen for you!

Call Rob Hudson on 083 309 0760

or email: rob@remaxone.co.za

ONE

Kyalami Estates • CONNECT • Issue 1 • 2022 11