PROXIMITY TO SCHOOLS ONE OF THE MOST IMPORTANT FACTORS INFLUENCING HOME PRICE LEVELS
Category News
Being close to a reputable school has always added great value to any home but right now it is more crucial and beneficial than ever before. This is the view of Rowan Alexander, Director of the Cape Town Northern Suburbs estate agency, Alexander Swart Property. He says there is a growing tendency for both parents to have to work and often the children need to be able to get to and from school on their own.
"Nowhere is this increased value of homes close to schools, more evident than in Brackenfell," says Alexander. "If one looks at suburbs such as Vredekloof, Sonkring, Burgundy and Morgenster Heights it is quite clear that being close to schools has raised home values by 10 to15% on average."
The same price pattern, he says, is evident in many of the Durbanville suburbs and Century City. Here suburbs such as Clara Anna Fontein, Valmary Park, Eversdal, Durbanville Hills and Graanendal, have average values significantly higher than the area average due to a good supply of schools.
According to Alexander, developers have fully understood the value of proximity to a good school. They almost always tend to incorporate a new school into any major development like at Clara Anna Fontein and Century City. These are increasingly more likely to be private rather than State institutions and parents are making big sacrifices to send their children to these high-cost establishments.
Asked if schools are the most important factor in setting price levels for homes, he replied that this is quite probably the case. Of almost equal importance are convenient shopping centres, lifestyle facilities such as parks and open spaces, gyms, tennis and squash courts, bowling greens, sports fields, social clubs and restaurants. Complementing all these factors is SECURITY, now always of prime importance.
"There is nothing that detracts from the value of a residential precinct more than a bad crime record. Fortunately, Alexander Swart's main operating areas, Brackenfell, Kraaifontein and Durbanville have relatively low crime figures, which are reflected in the average price growth here; higher than that of most Greater Cape Town suburbs."
For further information, please contact Rowan Alexander on cell phone 082 581 3116 or by email: rowan@asproperty.co.za
Author: Independent Author
