Pretoria’s “New East”, including Equestria, Faerie Glen and Silver Lakes, has grown in the past few years.
Says Anne Rich, Rawson Property Group franchisee in Equestria, “People used to move here to enjoy a country lifestyle, but as the city expanded and the whole area around Silver Lakes Golf Estate became increasingly fashionable, developers saw the opportunity to open it up to younger buyers by building more affordable homes on the smallholdings.”
Good schools, hospitals and retail facilities have made this one of the most densely populated nodes in Pretoria. Lightstone reports that more than 530 sectional title sales were registered in Equestria in the past 12 months at an average sales price of R1m. About 250 sales of freehold stands and cluster homes in secure estates were recorded, with homes selling for an average of R1,85m. Says Rich,
“The highest demand here is for homes in the R1m-to-R1,3m price range, but most properties for sale in the area are priced at R1,6m or higher.”
In Lynnwood Ridge, which borders Equestria and is closer to Menlyn, 47% of residential housing stock is in sectional title flats and townhouses, at an average price of R995 000. The average price of freehold homes sold in Lynnwood Ridge over the past 12 months was R2m, according to Lightstone.
Another popular suburb is Faerie Glen, where homes prices can reach R2,5m. Cluster homes are priced from R600 000 to R1,5m. According to Lightstone, more than 300 sectional title sales have been registered in Faerie Glen in the past 12 months at an average price of R1,1m.
