Schools, space and security – family homes in Joburg’s northern suburbs are in high demand.
When it comes to buying a family home in Joburg’s northern suburbs, most buyers are looking for the same things: a spacious property in a secure area close to good schools, and a good transport network nearby to shorten the daily commute. As demand of these properties continues to outstrip supply, prices in these areas are being driven upwards, making them unaffordable for many young families.
Within Joburg’s northern suburbs, areas within the North West that form part of the “Region B” municipality are seeing a huge growth in demand in particular.
These include areas like Parktown North, Parkwood and Parkview, which all offer spacious properties, established greenery, and close proximity to some of the country’s top private and government schools. Justin Smith, franchisee, Rawson Properties Greenside, says that in these areas, demand definitely outstrips supply. “The Parkview area, for example, has around 955 homes in the entire neighbourhood, and in a good year only around 40 of these will come onto the market,” he says.
So what is the “sweet spot” price that family home buyers are prepared to pay?
While it depends on the area, Smith says that most people are looking for houses between R 2,8m and R 3,5m. Charles Vining, managing director, Seeff in Sandton, says people are looking to buy clusters from R1,75m upwards, and houses from R2,5m.
Besides the proximity to schools, Justin says that family buyers like older suburbs such as the Parks but also Greenside, Linden and Craighall as they are near recreational facilities such as sports clubs, dams, rivers, the zoo, hiking and biking. Smith also says that the community spirit and atmosphere are major drawcards. “Many older suburbs have had a real gentrification of their high streets and offer great eateries and a charming shopping experience.”
Tony Ketcher, managing director, Seeff in Randburg, says that while older heritage suburbs remain popular, properties in these areas require maintenance, and the high cost of services means that potential buyers need to look further out where properties are more affordable. Alternative suburbs that are relatively newer include areas such Fourways and Lonehill, which are also near great schools, shopping and entertainment.
This article originally appeared in Neighbourhood, Sunday Times.
