La Concorde Property

Location

The neighbouring suburbs of La Concorde are Helena Heights, Monte Sereno, Helderrand and Fairview Heights.

Property Market

The total extent of La Concorde is 41 ha. There are 251 own title properties in the La Concorde suburb and only 14 sectional title properties. The median land size is 913 sq.m. and the median price obtained in 2010 for own title properties had been R1 650 000.

Between 2005 and 2009 93 own title properties (houses) were sold - i.e. an annual average of 19 homes. There has been a drop in sales volumes during 2010 - as only 7 homes (own title) were sold in 2010. That is a decrease of 63 % in sales of own title properties in La Concorde during 2010 as sellers chose to await an improvement in market conditions before marketing their properties. Total sales in La Concorde during 2010 has been R16,71 million whilst 2009 sales totaled R45,876 million.

The highest price achieved to date for an own title property in La Concorde has been R6,2 million (2008). The lowest price for an own title property obtained during 2010 has been R1 385 000.

La Concorde experienced a lowering in median prices achieved for own title property between 2009 and 2010 - dropping from R2,4m to R1,65m (i.e. with 31%). The growth in average prices between 2005 (R1 920 000) and 2010 (R2 387 000) has been 24,3% - i.e. an annual growth rate of 4,8%. The growth in median prices between 2005 (R1 975 000) and 2010 (R1 600 000) has however been down with -19% - i.e. a negative annual growth rate of 3,8%.

Sales statistics regarding the ratio of bonded vs cash sales in La Concorde varied from 58% cash sales in 2005 to 76% (2009) and 75% cash sales in 2010. Other banks then the so-called "big four" banks in South Africa has with 37,5% the largest bond share in own title property in La Concorde (ABSA 20%, Nedbank 10% / Standard Bank 27,5 % / FNB 5%).

• Residential Sale Property Ranging from R3,100,000 to R3,100,000