Montclair Property

Location

The neighbouring suburbs of Montclair are Pearl Rise, Fairview Heights and La Sandra.

Property Market

The total extent of Montclair is about 43,6 ha. There are 260 own title properties in the Montclair suburb and 41 sectional title properties. The median land size is 1 096 sq.m. The median price obtained in 2010 for own title properties had been R2,65 million.

Between 2005 and 2009 102 own title properties (houses) were sold - i.e. an annual average of 20 homes. There has been a 50% decrease in average sales volumes in 2009 with only 10 properties being sold. Sales volumes in 2010 rose slightly to 11 but were still far below the annual average of 20 homes sold. Total sales in Montclair during 2010 has been R35,35 million whilst 2009 sales totaled R31,32 million.

The highest price achieved to date for an own title property in Montclair has been R15,75 million (2008). The lowest price obtained for an own title property during 2009 has been R1,65 million.

Montclair experienced an decrease in median prices achieved for own title property between 2009 and 2010 - decreasing from R2,99 million to R2,65 million (i.e. with 11,6%). The growth in average prices between 2005 (R2 150 727) and 2010 (R3 214 018) has been 49,4%. That is an annual growth rate of 9,88%. The growth in median prices between 2005 (R1 750 000) and 2010 (R2 650 000) has been 51,43% - i.e. an annual growth rate of 10,28%.

Sales statistics regarding the ratio of bonded vs cash sales in Montclair varied from 40% cash sales in 2005 to 50% (2009) and 41,6% cash sales in 2010. ABSA bank has with 69,4% the largest bond share in own title property in Montclair (Nedbank 4,2% / Standard Bank 7% / FNB 5,6%). 

• Residential Sale Property Ranging from R1,750,000 to R1,750,000