Northriding, located between Malibongwe Drive and Witkoppen Road, is one of the busiest suburbs in Johannesburg in terms of property sales, with some 250 sectional title transfers and 170 cluster/estate home transfers having been registered there in the past 12 months, according to property data company Lightstone.
Taryn Steven, Rawson Property Group franchisee said that what is not suprising, is that Northriding is a young suburb, where 70% of homeowners are under the age of 50 and about 60% have lived in the area for fewer than seven years. “What is more, almost half (46%) of the current buyers in the area are people below the age of 35, because it offers all the modern, lock-up-and-go security and convenience they prefer,” explained Steven.
According to Steven the suburb is especially attractive to young executives due to its proximity to major business centres as well the excellent entertainment that is found here. At the same time Northriding has ample well-respected educational facilities, attracting professionals with young families who are after the additional security from living in a gated and guarded complex.
When looking to move to Northriding a buyer can expect to pay from around R480,000 for bachelor/studio apartments, from around R550,000 for two bedroom apartments and from around R800,000 for three bedroom, two bathroom apartments. Sectional title townhouses start at around R650,000 for units with two bedrooms and one bathroom, and range up to about R1,8m for free-standing family units with three bedrooms and two bathrooms.
Freehold property in Northriding is scarce, however homes in cluster developments sell from around R1,1m, while luxury four-or five-bedroom homes in estates could cost between R3,8m and R8m.