Bramley and surrounds offer value, with excellent lifestyle characteristics
Edgar Mhlope, Bramley, Bramley View and Bramley Gardens area specialist for Lew Geffern Sotheby’s International Realty said that these areas are enjoying such high demand because of their location and accessible price point.
“Compared to many of their upmarket neighbours, these areas are very accessibly priced with predominantly freehold homes on generous erfs,” he explained.
Bramley Gardens, a classic middle class suburb, offers stand sizes averaging 1,500m² at prices ranging between R1,5m and R3m while Bramley proper, which is adjacent to Melrose Arch and has several boomed streets is a little pricier; homes on erfs from 600m² are priced at between R2,2m and R3m. Whereas Bramley View is an entry-level suburb. Plot sizes average 300m² at a price range of between R400,000 and R1m, depending on the condition of the home and whether or not it has been renovated.
According to Mhlope the Bramleys are attractive for a number of reasons, ranging from the appeal for those who cannot yet afford to purchase in suburbs like Illovo and Atholl, to the suburbs’ proximity to Sandton and the central location which makes them even more sought-after for civil servants.
Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty, said the markets in these suburbs have remained steady while the Bramley View market has actually seen a continued rise in property values. “The median house price increased by 14% between 2014 and 2015 from R655,000 to R750,000 and again by a further 10% to R825,000 at the end of last month,” he added. “In the other two suburbs the median house price has hovered between R1,25m and R1,3m since the beginning of 2015.
The demographic of these suburbs is changing, with 40% of all recent investors under the age of 35. This change has no doubt, stemmed from the central location and proximity to excellent amenities, coupled with the relative level of affordability.