Gert Bekker, area specialist for Lew Geffen Sotheby’s International Realty attributes this to young families being increasingly attracted by the upmarket suburban atmosphere and the fact that they can get much more house for their money than in comparable areas. “As one of the city’s older, more established suburbs it’s still largely dominated by freestanding homes on substantial stands, “explains Bekker. “While some are luxury homes at the top end of the market, buyers do have a choice of three or four bedroom family homes priced between R2,5m and R3,5m.”
He adds that Northcliff also offers first time investors exceptional value for money, especially in the extensions where plots are smaller and an older three bedroom house or modern townhouse can be bought for between R1,4m and R1,9m.
According to Bekker despite the high activity in the low and middle housing market, the top end of the market has experienced a surge in recent years, with increasingly more luxury homes nudging the R10m mark. “It is in this market segment where the best value currently lies as it is definitely a buyer’s market,” adds Bekker.
Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty believes that the lack of rental accommodation in Northcliff is partly attributable to the fact that its village atmosphere and great schools in close proximity to the suburb typically means home owners put down roots.
In addition to the value Northcliff offers to home owners and buy-to-let investors alike, the suburb also has easy access to the N1 and shopping centres like Cresta Mall, increasing the attractiveness of the suburb for everyone.
Photo: Designer Northcliff family home on the market for R9,5m negotiable