First-time buyers, this is what you’ll pay in Cape Town and Gauteng
If you’re new to a city, it can be tricky to know where to start your property search – especially if you’re looking in regions as large as Cape Town or Gauteng.
“Cape Town, Pretoria, and Johannesburg are big cities, so a lot will depend on whether buyers are prepared to travel to work,” said regional director and CEO of RE/MAX of Southern Africa, Adrian Goslett. “Schools also play a big role, as well as access to highways – and, of course, a lot will hinge around budget.
“Individual preferences aside, Sinoville, Faerie Glen and Moreleta Park are typically good suburbs in Pretoria for first-time buyers, while Roodepoort, the West Rand and Midrand are good areas for first-time buyers in Johannesburg,” said Goslett.
As an indication of roughly what buyers can expect to pay in these Pretoria suburbs, Andrew Louw, broker/manger of the RE/MAX Destiny office in Sinoville, said that first-time buyers can budget around R1m to R1,2m for a townhouse in Moreleta Park, and around R1,2m to R1,4m in Faerie Glen.
In Johannesburg, one bedroom bachelor flats in newly developed complexes go for around R680,000 in the Midrand area, while the top-floor loft apartments can go for up to R1,5m. There has been an influx of first-time buyers in this area in the last three years as many new developments – which present an attractive option for first-time buyers because there are no transfer fees on these kinds of transactions – have cropped up over this time.
Cape Town is equally as large and varied as its Gauteng siblings. While first-time buyers will struggle to find something affordable near or within the CBD, the suburbs lying on the outskirts of town offer much better value for money for first-time buyers.
“Top suburbs for first-time buyers in Cape Town are found in the Northern suburbs, particularly Brackenfell, Kraaifontein and Kuils River,” said Terry Rutherford, marketing manager at RE/MAX Property Associates. “With entry-level prices of around R980,000 to R1,5m for houses and townhouses, these areas are well suited to family buyers and offer outstanding value for money. Property on the Western Seaboard remains relatively affordable with new suburbs like Sunningdale and Parklands that have been developed to cater for the increased demand in the area. Townhouse prices in these suburbs range between R1,5m and R1,95m.”
“It is incredibly tricky to narrow down which suburbs are best suited to first-time buyers, as the needs and budget of each buyer are unique,” said Goslett. “While the above suggestions are not a bad place to start, they are by no means the only suburbs which offer good value for money.”