Eagle Canyon Golf Estate, in northwestern Johannesburg, is one of the best-performing gated developments in South Africa. This is according to Tim Crawford, the local Rawson Property Group franchisee.
“While the annual number of sales over the past few years has fluctuated, home values here have climbed steadily since the estate was launched 10 years ago, and the average house price has risen by 49% in the past five years to R5,2m currently,” he said. “In fact, according to property data company Lightstone, there have been 103 freehold homes sold in the estate over the past 12 months, and more than half (57) of these transactions have taken place at an average price of R5,7m.
“What is more, the prices of homes currently being advertised for sale rage all the way up to R20,5m, which will buy you an enormous six-bedroom, five-bathroom mansion offering exceptional golf course and mountain views.”
Meanwhile, he says, the average price of sectional title properties on the estate has more than doubled since the first apartment and townhouse developments were sold in 2006. “At the moment, the average price of the two and three-bedroom apartments being marketed is R1,6m, while townhouses are selling at prices between R1,9m and R4,5m.”
Crawford said its location in Honeydew Manor is the factor that has really boosted property demand there and set it apart from so many other gated estates in terms of sustained capital growth.
“This area used to be thought of as a ‘country escape’ as it was comprised mainly of smallholdings and stables, with the occasional nursery, farm-stall and Sunday- favourite restaurant in the mix. However, the rapid expansion of the metro over the past 20 years means it is now completely built-up, and really well-situated in terms of access to the Sandton CBD as well as Lanseria International Airport, which is increasingly popular among business travellers.