While the market for family houses below R1,8 million has been booming since mid-2020, we have also seen a marked increase in sales of suburban houses in the R3 million to R4 million price band, says the Seeff Property Group.
This includes full title and freehold houses in gated and security estates and reflects the Covid-inspired migration back to the suburbs, says Samuel Seeff, chairman of the Seeff Property Group. Buyers are saying that if they have to spend more time at home, often now working from home, they prefer to do it in a more suburban setting.
Seeff says there is a notable energy in the market for freestanding and estate houses including in the luxury suburbs of the major metropolitan areas. While the lower price bands continue picking up the bulk of transactions, deeds office data for the twelve months to end of April shows the R3 million to R4 million price band transactions as follows:
Cape Town – the highest volume with 1214 transactions at R7,7 billion, 14% of all transactions and 40% of the value.
Sandton - 989 transactions at R5 billion, 16% of all transactions and 36% of the value.
Johannesburg - 723 transactions at R3,5 billion, 8% of transactions and 27% of the value
Pretoria - 609 transactions at R2,6 billion, 5% of all transactions and 15% of the total value.
Durban – the lowest volume with 197 units transactions at R841 million, 4% of all transactions and 15% of the value.
James Lewis, managing director for Seeff in Cape Town’s Southern Suburbs says the area is renowned for its green suburban lifestyle and some of the best schools as well as the University of Cape Town.
Rondebosch and Newlands are especially sought for access to UCT and top schools such as Bishops, Rondebosch Boys, Rustenburg Girls and more. Harfield Village, Claremont and Lynfrae offer excellent value and are also close to the Claremont CBD. Tokai, Bergvliet and Plumstead are also popular for homes in the R3m to R4m range.
Francois Venter, a luxury real estate broker with Seeff Southern Suburbs says family houses above R4 million are also seeing good demand, especially in the “Uppers” such as Claremont Upper and Seeff has even concluded a few high value house sales in Constantia and Bishopscourt.
Hout Bay is seeing a boost on the back of the “Zoom town” trend and Stephan Cross, manager for Seeff Hout Bay says the coastal location is the big attraction, but buyers also have access to top schools, forests and proximity to the CBD and Southern Suburbs. Aside from local buyers, Seeff is also seeing demand from semigrating families and foreign buyers, especially from Germany and the UK who are investing in second homes.
In the northern suburbs, Welgedacht and Durbanville are seeing strong demand for the great suburban lifestyle, good schools and value for money, says Fanie Marais, licensee for Seeff Welgedacht and Durbanville. The areas are great for buyers who enjoy an outdoor lifestyle with nearby wine farms, cycling, mountain biking trails and horse riding easily accessible.
Paarl, just under an hour’s drive from Cape Town is also seeing an added boost on the back of the suburban revival with families drawn to the town and the Boschenmeer Golf Estate due to top schools such as Paarl Boys and Paarl Gymnasium and the nearby University of Stellenbosch, says Pierre Germishuys, managing director for Seeff Winelands and Boland.
Sandton is probably one of the most active areas in the R3 million to R4 million price range. Charles Vining, managing director for Seeff Sandton says buyers are taking advantage of the low borrowing costs to buy up into the area.
Bryanston, River Club, Fourways, Lonehill, Strathavon, Hurlingham Manor, Morningside, Woodmead and Dainfern are among the popular family suburbs given the access top schools such as Redhill, Crawford, St Stithians, Brescia House and Michael Mount Waldorf, Bryanston primary and high schools and more.
Family buyers are also taking advantage of the good buying conditions in the Randburg/Roodepoort area. Northcliff, Fairland, Emmarentia and Greenside are great for larger family homes in the R3 million to R4 million range. Duane Butler, general manager for Seeff Randburg says buyers get great value for money and spacious homes, often with a pool and staff accommodation, all within reach of good schools.
Family buyers in the R3 million to R4 million range who prefer the eastern side of Johannesburg usually head to the Bedfordview area which is not just a good address but offers good schools and amenities and proximity to business and industrial areas and the OR Tambo International Airport.
Pretoria East suburbs such as Waterkloof, Waterkloof Ridge and Waterkloof Heights are also hot property for family buyers with excellent schools and the University of Pretoria in proximity. Gerrit van der Linde, managing director for Seeff Pretoria East says the area is also popular for ambassadorial staff with many homes rented or owned by foreign embassies.
Centurion is renowned for its estates which are often sought by families, says Tiaan Pretorius, manager for Seeff Centurion. Popular estates include Golden Fields, Brooklands, Amberfield, Silver Stone, Summerfields, Copperleaf, Candlewoods, Irene View, Valley View, Centurion Golf Estate, Southdowns and Midstream. Many estates offer added amenities such as communal grounds, play parks and private schools in the case of Southdowns and Midstream, making them even more popular during these Covid times, he says.
The Berea in Durban is one of the most popular areas for family houses in the R3m to R4m range in suburbs such as Windermere, Musgrave, Essenwood, Morningside and Glenwood which lie on a ridge above the city with many properties enjoying great city and sea views. Roger Hoaten, licensee for Seeff Berea says the area is trendy with open-air restaurants, luxury shopping centres and great schools as well as proximity to the University of KZN.
Ballito on the North Coast is another fast growing area and Graham White, managing director for Seeff North Coast says it is offering excellent investment prospects in the residential and commercial sector.
Already a popular holiday town, the remote working trend has been an additional boost. The R3 million to R4 million range is popular for family homes and you can also find property in gated developments such as Palm Lakes Estates and Umhlali Country Club.