Monte Sereno Property

Location

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

Property Market

The total extent of Monte Sereno is about 37,89 ha. There are 283 own title properties in the Monte Sereno suburb and 58 sectional title properties. The median land size is 1 030 sq.m. The median price obtained in 2010 for own title properties had been R2,1 million.

Between 2005 and 2009 75 own title properties (houses) and 23 sectional title properties were sold - i.e. an annual average of 15 houses and 4,6 sectional properties. There has been a 35% decrease in own title sales volumes between 2009 (17 houses) and 2010 (11 houses). Sales volumes in 2010 were 26,6% below the annual average of 15 homes sold. Total sales in Monte Sereno during 2010 has been R24,925 million whilst 2009 sales totaled R31,199 million.

The highest price achieved to date for an own title property in Monte Sereno has been R4,55 million (2007). The lowest price obtained for an own title property during 2010 has been R1,1 million.

Monte Sereno experienced a 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 R1,499,000 to R2,100,000