Residents in Victory Park, Johannesburg live an enviable lifestyle. So says Elana Rahmin of Adrienne Hersch Properties which services the area.
Victory Park is wedged virtually right between two of the city’s largest green lungs –the Johannesburg Botanical Gardens and Delta Park - and lies within close proximity of some of Johannesburg’s trendiest and most upmarket nodes such as Sandton, Greenside, Parkhurst, Hyde Park and Rosebank. In other words, residents enjoy the combined benefits of a quiet, leafy node coupled with all the advantages of a fashionable lifestyle.
The Johannesburg Botanical Gardens and Delta Park are popular for different reasons. While dog walkers, fishing enthusiasts and kayakers flock to the botanical gardens, others visit Delta Park primarily to make use of the park’s environmental centre and see the birds at the Florence Bloom Bird Sanctuary.
Another nearby green node which is sometimes overlooked is the Melville Koppies Nature Reserve which features geology dating back three billion years as well as hiking trails. Interestingly, Melville Koppies has also been the site of Stone Age and Iron Age discoveries such as tools and an Iron Age iron-smelting furnace.
In terms of fashionable living, Victory Park’s residents can party the night away at Greenside or enjoy a sumptuous meal at Parkhurst’s exclusive eateries. Rosebank is also popular with night-owls and Hyde Park and Sandton offer a plethora of retail, dining, business and social meeting venues.
The area’s homes reflect Victory Park’s heritage which spans back a good few decades. Many of the freehold properties are large and gracious and sit astride generous tracts of land. According to Rahmin, a number of Victory Park’s homes have been refurbished and upgraded. Post revamp, many of these properties feature all the ‘mod cons’ which inevitably works in their favour come time to sell. Indeed, Rahmin says Victory Park’s top sellers have fetched as much as R4 million in the past.
A fair amount of Sectional Title properties have mushroomed in Victory Park in more recent times. Typically, according to Rahmin, these types of properties feature between three and four bedrooms, a reception area, large bathrooms and kitchens and spacious gardens. She adds that these properties can sell at between R1, 3 million and R2, 5 million.
According to the latest Lightstone report on the area, 11 freehold properties sold in 2011 at an average price of R1, 7 million which is down from the 2010 average of R2, 3 million. Rahmin explains that the price drop was in line with prevailing property market conditions at the time and that Victory Park freehold prices are already bouncing back.
As for the suburb’s Sectional Title prices, Lightstone statistics show an improvement in these property values. In 2010, these properties sold for R839 000 on average. In 2011, Victory Park’s Sectional Title homes sold for R940 000. It’s interesting to note that a number of both freehold and Sectional Title properties were reportedly bought by cash buyers in 2011.
Says Rahmin: “Young families in particular gravitate to Victory Park as the area offers quality schools such as King David Primary and High School, Holy Cross Primary School and De La Salle Holy Cross College. The fact that the area is patrolled and that a number of its roads have been boomed off also adds to its appeal.”
Development-wise, Rahmin says a new Virgin Active is currently being built on Rustenberg Road at The Terrace shopping centre. A new mixed-use development has also been earmarked for the area but this has been delayed due to electricity approval issues. Overall Rahmin says Victory Park is popular and is performing well. She adds that, as is the case across the board nowadays, the area’s properties sell quickly if priced correctly.