Briza Property

Location

The neighbouring suburbs are Monte Sereno (also above Old Stellenbosch Road) and The Links(between Main Road, Old Stellenbosch Road and Scholtz Road) and Montclair, Westridge (below Main Road) and Stuart's Hill.

Property Market

The total extent of Briza is 81 ha. There are 506 properties in Briza suburb of which 463 are own title (92%) and 43 are sectional title (8%). The median land size is 1 075 sq.m. and the median price obtained in 2010 for own title properties had been R1 467 500 and for sectional title property R785 000 (2008).

Between 2005 and 2009 137 own title properties (houses) and 15 sectional title properties (apartments) were sold - i.e. an annual average of 27 homes and 4 apartments. There has been a drop in sales volumes during 2010 - as only 12 homes (own title) and no apartments were sold in 2010. That is a decrease of 55 % in sales of own title properties during 2010.

The highest price achieved to date for an own title property in Briza has been R6,5 million (2010). The lowest price for an own title property obtained during 2010 has been R515 000 (auction). The highest price to date for a sectional title property has been R785 000 (2008).

Briza experienced a marginal lowering in median prices achieved for own title property between 2009 and 2010 - dropping from R1,5m to R1,467m (i.e. with 2,2%). The growth in median prices between 2005 (R980 000) and 2010 (R1 467 500) has been 49,7% - i.e. an annual growth rate of 9,9%.

Briza experienced between 2005 and 2008 a growth rate of 10,2% in median values for sectional title properties - when the median price increased from R712 500 to R785 000. There had been no sales of sectional title properties during 2010.

Sales statistics regarding the ratio of bonded vs cash sales in Briza varied from 32% cash sales in 2005 to 45,8% (2009) and 66,6% cash sales in 2010. ABSA bank has with 33% the largest bond share in own title property in Briza (Nedbank 15,4% / Standard Bank 22% / FNB 14,3%).

Lifestyle

Its close proximity to the R44 and the N2, as well as to shopping centers, schools and sport facilities has made this a popular suburb for people whom would like to buy in the price bracket between R1,5 m to R2m. 

• Residential Sale Property Ranging from R935,000 to R4,020,000