Advice

Gauteng: Where to buy residential property

New and established residential hubs in Gauteng offer a safe and convenient lifestyle close to major business centres – here we find out more.

TEXT Kim Maxwell PHOTOGRAPHS Supplied

Continued demand for housing in the low- and mid-tier pricing band is reflected in annual growth that exceeds the national house price inflation index by more than 0.4%. With the market ranging between 2% and 5% for some time after a recent slowdown, Lightstone’s Residential Property Indices for August 2019 highlight growth in the low- and mid-value wealth segments at more than 4% annually.

“Our inland municipalities of Ekurhuleni, City of Tshwane and City of Johannesburg are growing stably at rates of between 1% and 4%”, the report states.

Real estate lags the real economy by 12 to 18 months, says Nedbank CIB executive for residential finance Somaya Joshua, so presold stock is still coming to market in the mid-tier housing sector (priced between R1.5 million and R2.5 million) in the traditional suburban nodes in Gauteng and Pretoria. “However, because of current economic conditions, effective demand has reduced. It is becoming more difficult for people to access funding and get the traditional 100% bond to buy that aspirational home, so we’re starting to see an uptick in affordable housing again.

100 Oxford in Rosebank

TOTAL WEALTH

“Areas like Randburg have had an increase in brownfield conversions – old office buildings being converted into apartment-style products,” says Joshua. “These offerings are attractive at rentals below R8 500 per month.”

Yet, according to New World Wealth, Johannesburg is one of the top five wealthiest cities in Africa. The global market research group’s 2019 Africa Wealth Report states that total wealth held in Joburg amounts to US$248 billion. “Most of Johannesburg’s wealth is concentrated in Sandton, which is home to the JSE, the largest stock market in Africa, and to the head offices of most of Africa’s largest banks and corporates,” writes Andrew Amoils. “Exclusive suburbs include Hyde Park, Sandhurst, Houghton and Westcliff.”

IQ Brooklyn Development

SWEET SPOT

The FNB Q2 Property Barometer, which flags “attractive bargains in the higher end”, states that house prices have begun to fall in Sandton and environs, registering -1.7% year-on-year in Q1 19.

“A similar trend emerges in other higher-end areas, such as Randburg and Midrand, which recorded 0.4% and 2.0% year-on-year in Q1 19 from 1.7% and 2.4% year-on-year, respectively, in Q4 18.”

The City of Tshwane’s estimated average house price registered 1.5% year-on-year in Q1 19, down from 1.9% in Q4 18. Prices in Pretoria East and Centurion fell by 0.01% and 0.8% year-on-year, respectively, in Q1 19. “In contrast, the northern subregions, primarily comprised of middle- and low-income areas, are trending upwards,” write the authors.

Pam Golding Properties’ Johannesburg North Quarterly Report of April 2019 cites residential properties priced up to R5 million as sought-after, “with the sweet spot being properties priced below R1.5 million”.

Evergreen Broadacres

VIEWS AND MORE

Developments like the ICONYC in Benoni tick all the boxes. Conceptualised by a dynamic team channelling the New York City look and lifestyle, the ICONYC overlooks the 17th and 18th holes of the Ebotse Links golf course on the CR Swart Dam. “Our buyers include young couples and families whose highest priorities are security and convenience,” says director Evelthon Rotsides. The ICONYC also appeals to investors thanks to its proximity to the airport.

Our buyers include young couples and families whose two highest priorities are security and convenience Evelthon Rotsides, director, ICONYC

The ICONYC

PRIME LOCATION

Also near OR Tambo International Airport is Bedfordview Frontier Residential Estate. Near major routes, hospitals, schools and malls, the estate’s lifestyle component comprises a gym, convenience store, pool and crèche, among others. The 127m2 three-bedroom, two-bathroom units are suitable for a more mature client who wants less maintenance,” says Rui Magalhaes of First Wave Holdings.

WORLD-CLASS

Balwin Properties’ answer to a conveniently situated development is Kikuyu in Waterfall. The apartments are fibre-ready and equipped with world-class amenities, eco-friendly appliances, prepaid utilities and solar-supplemented electricity. This estate also has a lifestyle centre with magnificent facilities, including a mini sports field, an Amici restaurant and pizzeria, a Camelot spa and a cinema room.

La Vie Nouvelle Retirement Village

ULTRA-MODERN

Students looking for affordable accommodation will love the location of iQ Brooklyn, just 800m from the main campus of the University of Pretoria. Priced from R995 000 for a studio, including transfer costs, the development offers superb security, fast internet and much more.

SECTIONAL TITLE

One of the few developers to offer sectional title schemes where each unit, section or house is detached from any others, Craft Homes gives residents the benefits of security and affordability without compromising on space and exclusivity.

With developments such as Waterfall RidgeMelrose View and Pebble Lane in vibrant areas, its sectional title properties are close to arterial roads, public and private schools and retail options. Craft Homes is also at the forefront of nodal developments such as Hazeldean and Sandton Gate.

Celebration Retirement Estate

LUXURY DESIGN

Skywood in Bryanston is a new sectional title development by Zotos Construction. It comprises 29 three-bedroom duplex townhouses designed with under – stated luxury by Mark Laburn. “Whether you are looking for the ultimate buy-to-live-in home or to add to a property portfolio assured of excellent long-term growth, Skywood offers a range of attractive features,” says business development manager Walter Panto. Prices start from R3.49 million.

Skywood in Porchester Road

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