Traffic jams are a daily challenge for many residents of Johannesburg and Cape Town and the desire to avoid them is informing many current property purchasing decisions in these two metros.<\/p>\n
So says Gerhard Kotz\u00e9, MD of the RealNet estate agency group, who explains: \u201cWe can clearly see three different preferences emerging among different groups of homebuyers.<\/p>\n
\u201cThe first of these is the growing demand among young buyers for apartments and townhouses in areas close to their workplaces – whether these are in the city centre or decentralised commercial hubs – and preferably also very close to a variety of shops, restaurants and entertainment and sports venues.<\/p>\n
\u201cThis preference is being underpinned by the high cost of private transport, with fuel prices now being 20% higher than they were a year ago and the fuel levy and Road Accident Fund levy being increased every year. Add this to the ever-increasing costs of maintaining and insuring a vehicle and many young people would far rather put that money towards rent or even a home loan in a convenient location.\u201d<\/p>\n
The second group of buyers doing their best to avoid traffic congestion, he said, are those with families who also want to live close to their children\u2019s schools. \u201cJust as they don\u2019t want to sit in traffic, most parents also don\u2019t want their children to have to spend hours each day travelling by bus or taxi to school in a distant suburb, and with both parents in many families working, the logistics of getting children to and from school themselves has become an increasingly serious consideration in their choice of home,” Kotz\u00e9 said.<\/p>\n
This is driving particularly strong demand for homes in older, central suburbs that are well supplied with schools within walking or minimal driving distance of home \u2013 and are still not too far from the office, or better still, are on a bus or train route that enables a non-car commute to work.<\/p>\n
\u201cAmong the more affluent, it is also fuelling demand for homes in estate developments which incorporate their own schools and other amenities that eliminate or significantly reduce the need to travel. These gated communities are particularly popular with buyers who are able to work from home most of the time,” Kotz\u00e9 said.<\/p>\n
The third group, the property specialist said, are \u201clifestyle\u201d buyers for whom the new public transport systems such as the Gautrain or the MyCiti network has created the opportunity to work in the city centre but live at the beach, for example, or in a more affordable suburb where they can perhaps buy a house rather than an apartment.<\/p>\n
\u201cAnd the expansion of these networks is likely to exacerbate this trend and increase property values in all the areas within easy reach of the stations or bus stops \u2013 as has happened around all the new Crossrail stops in London, for example.<\/p>\n