Despite the ups and downs that have characterised the property market over the past decade and the fact that the country is facing serious economic challenges, there are a number of suburbs which have proven to be good investments.
Real estate agency Seeff noted that while security estates have certainly become extremely popular, there are also still many traditional residential suburbs that have stood the test of time despite external factors like the economy.
Below it outlined these ‘hero’ suburbs in Gauteng.
Why? A family suburb located in a boomed enclave between Bedfordview and Senderwood that has well-maintained parks, a highly rated government primary school, several nursery schools and borders on the Glendower Golf Course. It is also close to excellent private schools such as St Benedict’s, St Andrews and Holy Rosary and within easy travelling distance from Jeppe Girls and Boys and King Edward VII School.
Prices: Prices have held up well in a challenging market place and is priced between R2 million and R7 million.
Predictions: Dunvegan will continue to be popular with young professional families looking for a nurturing environment to bring up their children.
Why? Jukskei Park is neighboured by Olivedale and Douglasdale and is, for the most part, an upper-middle-class suburb, but with more affordable prices than Sandton. The area has a favourable location close to The Dome, Northgate, Fourways and Montecasino and also offers relatively easy access to Sandton. Within easy access of Muldersdrift to the Unesco World Heritage site of the Cradle of Humankind.
Prices: The average freehold is priced just under R2 million making it an affordable option for a big property on a large stand.
Predictions: We predict the home prices to rise like they have done in the past decade. With the opening of Fourways Super Mall this trend will continue and even surpass the current annual increases enjoyed by Jukskei Park.
Why? Since 2012 sales prices in the area for full title properties have increased by 48% and by 20% for sectional title properties. The Reeds is close the highway with easy access to JHB and PTA and good schools.
Prices: Average house prices are about R1.3 million to R1.6 million and sectional title units start from R650,000 for a two-bedroom unit. Three-bedroom units start from R950 000.
Predictions: The Reeds will remain popular and the average sales price will increase slightly above current national averages.
Why? Lynnwood is in close proximity to the highway, shopping malls, top schools and the University of Pretoria. The suburb offers big houses on large stands as well as sectional title complexes that also make it ideal for students and young professionals.
Property prices: The average freestanding home is priced between R3.5 million and R4 million and sectional title is priced between R1.4 and R1.6 million.
Predictions: While Lynnwood will always be in demand the higher prices keep many buyers from purchasing at the moment so we may see a decline in the number of sold properties. There are many new developments coming into Lynnwood and developers are seeing lots of potential in the large stands and erven that the area offers.