Rome Glen Property

Location

The neighbouring suburbs of  Rome Glen are Kalamuda, Van der Stel and Chris Nissen Park.

Property Market

The total extent of Rome Glen is about 30,47 ha. There are 1 801 own title properties in the Rome Glen suburb and 387 sectional title properties. The median land size is 618 sq.m. The median price obtained in 2010 for own title properties had been R1,35 million.

Between 2005 and 2009 1305 own title properties and 150 sectional title property were sold in Rome Glen - i.e. an annual average of  houses. Own title sales volumes between 2009 (6 houses) and 2010 (6 houses) remained at the same levels. Sales volumes in 2010 were 14% below the annual average of 7 homes sold. Total sales in Natures Valley during 2010 has been R17,605 million whilst 2009 sales totaled R15,495 million.

The highest price achieved to date for an own title property in Natures Valley has been R5,55 million (2008). The lowest price obtained for an own title property during 2010 has been R2.32 million.

Natures Valley experienced a slight decrease in median prices achieved for own title property between 2009 and 2010 - decreasing from R2 597 500 to R2 570 000 (i.e. with 1%). The growth in average prices between 2005 (R2 041 363) and 2010 (R2 934 166) has been 43,73%. That is an annual growth rate of 8,74%. The growth in median prices between 2005 (R2 020 000) and 2010 (R2 750 000) has been 36,13% - i.e. an annual growth rate of 7,22%.

Sales statistics regarding the ratio of bonded vs cash sales in Natures Valley varied from 36,3% cash sales in 2005 to 33,3% (2009) and 33,3% cash sales in 2010. FNB bank has with 32,1% the largest bond share in own title property in Natures Valley (Nedbank 21,4% / Standard Bank 14,3% / ABSA 28,6%). 

• Residential Sale Property Ranging from R660,000 to R3,200,000