These are Gauteng’s hottest suburbs right now
As the summer holidays approach, ensure you don’t miss out on giving these suburbs a look. Seeff calls it, saying these suburbs can be distinguished from other areas based on their vibe, proximity to important amenities and activities, affordability, important developments or developmental opportunities in the area.
Melville: This bohemian artist enclave a testament to urban regeneration and particularly popular with professionals who appreciate the patina of wooden floors and pressed ceilings, but it is also close to the JHB CBD, University of Johannesburg, Wits, and many shopping centres and hospitals.
“Homes in Melville generally range from R1,4m to R3m, but even more affordable property can also be found in adjacent Westdene. Like all areas in the early throes of revival, it is enjoying a disproportionately high rate of appreciation in property values and offers many renovation opportunities.
The suburb holds a sentimental pull for many of its inhabitants and is characterised by people who could afford to live in more expensive communities, but choose to live in Melville. Many investors who have been drawn to Melville find that when they buy right it is easy to make a profit after a quality renovation or development.” – Chris Hajec, Seeff’s MD in Randburg
Paulshof: The appeal of this suburb is that properties can be found there for less than R1,5m, while the average price for sectional title is R1,1m for sales concluded over the past 12 months. Besides the fact that freestanding property carrying this price tag is quite scarce in Sandton, Paulshof is conveniently nestled between Sandon, Fourways and Midrand and buyers definitely don’t have to skimp on great location.
“Properties priced below R2m in Sandton and surrounds are most sought after and tend to move the quickest. While property in the sub-R2m price range in Sandton usually falls into sectional title and is popular among investors or first-time buyers, freestanding properties at this price can be obtained in a suburb like Paulshof. Clusters and houses in Paulshof usually sell at prices between R1,8m and R2,6m. Property in Paulshof is a hot commodity and sells fast.” – Charles Vining, Seeff’s MD in Sandton
Bedfordview: Prices range from R500,000 for a bachelor pad to R30m for palatial residences, while large houses on 4,000m² stands are selling at bargain basement prices.
“Patient investors can apply for rezoning and will be able to fit up to eight cluster units on one of these sites with individual units selling at the same price as the original land purchase – making it an unrivalled investment opportunity.
“While there has been a stage where sales were slow in Bedfordview, the trend is lifting and there is now renewed interest in the area. The location, excellent private schools, good facilities, great restaurants and top shopping malls add to the appeal of the area and to the active rental market for which there is a shortage of stock in all segments. Above-average rentals are achieved in Bedfordview in relation to the surrounding areas and there is a perception that Bedfordview is the place to live on the East Rand.” – David Ingle, Seeff’s MD in Bedfordview
Meyersdal: This prestigious suburb is also known as the “Mecca of the South” and is the most upmarket and popular area to live in in the South where demand for property is sky high.
“Prices in Meyersdal for sectional title start at around R600,000, R1m for cluster units, close to R3m for freestanding homes and homes in estates can be priced anything from R6,5m to R39m.” – Nicholas Falck, real estate agent for Seeff Johannesburg South
Menlyn Mall surrounds: Much development is taking place in the areas surrounding Menlyn, inclusive of the Menlyn Maine development which features a new casino, where high demand has been shown for Garsfontein, Menlo Park, Alphen Park, Newlands, Constantia Park and Ashlea Gardens.
“Homeowners in these areas are asking more for their properties than what they are worth, but are getting away with it because it seems that potential buyers have jumped on the same train and are realising the value of investing in these areas.” – Gerhard van der Linde, Seeff’s MD in Pretoria East
Eco Park: Estate properties sell the quickest in Centurion and post excellent returns.
“A property of R1,1m recently sold in the Eco Park estate only one day after listing. Property in the estate is affordable, centrally situated to all schools, malls and highways, and is achieving excellent returns of between 9% and 10% on re-sales and rentals.
“In addition to this the demand for estate living in Centurion has increased dramatically and buyers are happy to pay a premium price for the security.” – Steve van Wyk, Seeff’s MD in Centurion