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Where Pretoria’s millennials buy property

Waterkloof Glen R3.65mThree Pretoria East suburbs have emerged as millennial drawcards over the past few years. They include Hazelwood, Constantia Park and Equestria.

Hazelwood

Hazelwood enjoys trendy street café culture, according to Corli van Heerden, a Seeff agent for the area, and is fast becoming one of the hippest in the east of Pretoria, attracting people from surrounding areas to its hot hangouts and foodie delights.

The suburb sits in the heart of Pretoria East, flanked by areas such as Menlo Park and Brooklyn on the one side and Waterkloof and surrounds on the other side. It offers quick access to the N1 as well as other main arterials into and out of the city.

About a quarter of all buyers in the past year are millennials (under 35 years old), with a three-bedroom house selling for around R2,68m and fetches a rental of about R19,500/month.

Constantia Park

Millennial buyers comprising almost a third of recent activity in Constantia Park, which enjoys close proximity to attractions such as of Menlyn, according to Johalet Steyn, Seeff agent in the area.

“The biggest attraction is the affordability and it is popular for student accommodation while young professionals and young families are also drawn to the suburb,” she said. “It is very central and offers quick access to the N1 and N4 arterials and is also close to the trendy new Menlyn Maine development. There are excellent schools in the area along with amenities for residents. The average sectional title price is around R1,2m while full-title homes sell for around R1,85m on average.

“Rental rates average around R11,500 to R16,000/month.”

Equestria

A third, more affordable, market where millennial buyers make up some 41% of recent activity, is Equestria. “It is popular with a mix of young professionals and families, and offers a broad mix of sectional title options, from apartments to townhouses and clusters along with full-title properties,” said Anel van der Schyff, Seeff agent for the area. “It is especially attractive to first-time home buyers as it is affordably priced with sectional title property at around R1,05m and full title around R1,93m, on average.

“Rental rates start at around R6,000/month and range to about R18,000/month for a top-end home, often with four bedrooms.”


Photo: A great area for young families who want to be close to the buzz of Hazelwood. This newly renovated Pieter Hattingh masterpiece is situated on a 2055m² stand on a hill in an enclosed area and comes with a lush garden with a swimming pool and play area, four bedrooms and a fifth suite with a kitchenette (flatlet), a fitted study and more, and is priced at R3,65m.

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