Weltevreden Park Suburb Report

Weltevreden Park Suburb Report

Private Property South Africa
Ben Kelly

In every part of Johannesburg there are suburbs that define the area. Normally these are the larger suburbs, or they might just be the ones with a higher profile. Think Bryanston in the North, Rosettenville in the south and Hillbrow in the city centre. In the north-west of Jo’burg there are two suburbs that define the area, Weltevreden Park and Randpark Ridge. Together these two suburbs link the West of Johannesburg to the north occupying a swarth of ground between Rabie Street in the East and Hendrik Potgieter in the West. The size of Weltevreden Park, or Weltevredenpark as it is also written, dwarfs many other suburbs in Johannesburg with more than 8000 units split 50/50 between both sectional title and freehold units.Probably because of its status as a desirable suburb for the middle class the suburb has not seen the same level of price escalation as some other suburbs saw during the property boom, with the average freehold price rising from R620 000 in 2004 to almost R1.1 million in 2010 and the first few months of this year. Sectional title sales saw a similar pattern moving from R371 000 in 2004 to R645 000 in 2010.Although the actual number of freehold sales has been dropping over the years – from 387 in 2004 to 221 last year – sectional title sales have seen a much greater drop in numbers – from 698 in 2004 to 318 last year. This is indicative of a suburb reaching the end of its expansion phase and settling into a more stable phase of existence. The last real expansion involved the building of a significant number of sectional title units in the area across the N1 from Fairlands.Despite being on the ‘wrong side’ of the highway Weltevreden Park benefits from a number of key advantages. It has access to a number of good primary and high – schools, both private and government, with Weltevreden Park Primary being regarded as one of the best primary schools in that neck of the woods. Charter House, Aurora and Agape Christian School are all close by and Allen Glen and Randpark High offering state education for high-school learners.The north-west has seen a lot of development over the past 10 years. Not only have large companies like MTN, FNB and Standard Bank built large campuses in the area but there has also been a real expansion of the general commercial and retail sectors with a number of new shopping centres being built and expanded on over the years. Freeway access is also relatively easy with both the Beyers Naude and 14th Avenue interchanges adjacent to Weltevreden Park.Buyers in the suburb tend to be a mix between single people and young families as the price brackets for both sectional title and freehold properties plays directly into these markets. The majority of stable owners come from the 36–49 age group as do 62% of new buyers. With easy access to facilities and a large pool of properties there is always something on the go in Weltevreden Park and this is one of the reasons people choose to buy here.(Disclaimer: The author has recently bought a house in Weltevreden Park.)


Found this content useful?

Get the best of Private Property's latest news and advice delivered straight to your inbox each week

Related Articles

Commercial property market insights - It's not all doom and gloom out there
The commercial property market has the potential to rebound depending on a number of factors.
Interest rate disappoints, but South Africans will buy property this festive season, says Seeff
Despite the South Africa Reserve Bank's decision to keep the interest rate at 3,5% South Africans are predicted to still purchase property this festive.
Stable interest rates lead to housing market boom
There's a huge spike in homebuyers in South Africa.
What it means to buy a property in distress
Everything you need to know about the process of purchasing a distressed property.