Killarney is one of the parts of Johannesburg’s flatland, that has avoided the slide into slums that many other areas have fallen prey to. With its prime location and its large airy apartments the suburb is a favourite for those looking for the feel of the urban buzz without having to sacrifice security.
The suburb is classic old Johannesburg with tree-lined avenues and nice little parks dotting the landscape. This provides for an environment where you are likely to find the cross-spectrum of Johanessburg society, from up and coming entrepeneurs, to geeks, to young couples and, the more traditional, Jewish families.
The ease of access to Killarney Mall which, while not having the scale of Sandton or Cresta, offers access to most of the shops that residents are looking for. The suburb also offers almost unparelled access to transport routes with the M1 Highway neatly bisecting the suburb with most of the area north and west of a smaller section of the suburb to the south of the highway as it bends and heads up the hill towards town.
Almost all of Killarney is sectional title with only nine freehold properties out of a total pool of almost 2 000 properties. While it is possible to find extravagant properties in the suburb, with one selling for upwards of R3 million in the past 12 months, the strongest section of the market falls in the R800 000 to R1.5 million section. There are bargains to be had below that but they are far and few between and mostly in need of serious renovation. The average purchase price in 2011 was just over the R1 million mark setting Killarney firmly in the upper end of the middle class.
There is a strong loyalty by existing owners with almost 40 percent of existing owners having held their properties for 11 years or more. There was also only 5 percent turnover in 2011, which shows that existing owners have faith in the future of the suburb. The younger demographic also makes up more than 40 percent of recent buyers, indicating that the suburb holds some credibility with younger buyers.
Although flats are not always considered as the optimum place to raise a family, especially in Johannesburg with its love of big gardens and swimming pools, Killarney has a great set of options when it comes to educational institutions. Saxenwald Primary is just across Oxford Road and on the other side of the highway it is possible to find such Jo’burg educational icons as King Edward VII, St John’s and Rhodean close by, with other schools including Kingsmead and The Ridge not far away.