Exploring the busiest property markets in Johannesburg.
Category News
Following the house price inflation dip below the 5% mark. The inflation rate hasn't been this low since March of 2021. That being said, property indexing and listing continue to favour buyers who are taking advantage of affordable property that may have previously been out of their price range.
However, when it comes to finding the right property that matches your particular needs, pricing indexes may not always be the deciding factor. Price alone is not the only aspect a buyer should take into account.
According to data gathered from Lightstone, the sort of information pertaining to a property's location, demand, and environmental trends can reveal much about the feasibility of the home as a viable investment for both savvy real estate investors and new homeowners alike. That being said, we take a look at three areas within Gauteng that fit and excel these criteria.
Midrand
As the name suggests, Midrand is a vast stretch of land nestled within the halfway point between Johannesburg and Pretoria. Essentially linking these two cities and merging the greater Gauteng CBDs into a megalopolis.
Over the last twelve months, property transactions have resulted in excess of R5.6 billion making it one of the most dynamic areas in the country where homes are becoming increasingly attractive. This can be attributed to the location and quality of life conveniences on offer.
Midrand is now one of the fastest-growing areas within the province owing to its attractiveness among younger and first time buyers looking to make the jump to purchasing real estate while the market remains in their favour. In fact, 47% of total sales were to millennials between the ages of 28 to 40.
According to Property 24 Trends Data, the average asking price for property in Midrand sits at a modest R1.37 million with a recorded 912 new property listings to date.
Bryanston - Northern Suburbs
Despite the fact that Bryanston remains one of the more prestigious neighbourhoods within Sandton, it has accounted for the 2nd highest volume of property transactions in 2021. This may be attributed to the conversion of a number of previously commercial office blocks and larger properties into sectional titles to accommodate the growing demand for property.
Current lifestyles of lock-up and go and population growth have seen many of the original established Bryanston mansions and commercial holdings with their large grounds being converted into the high-class sectional title or cluster complex model," says Cheryl Cattell of Homes of Distinction.
Property 24 Trends Data shows that Bryanston currently has 332 new property listings with an average asking price of R3.47 million. 3 bedroom homes are extremely popular amongst the Bryanston demographic who are usually families between the ages of 36 - 49 making up 44% of the total buyers in the area.
Read more from Cheryl Cattell - here
Randburg
Within close proximity to the Sandton city centre and offering the ideal setting for first-time buyers seeking traditional family homes, Randburg is the perfect location for younger investors looking to capitalise on affordable property.
Beyond offering exceptional affordability historically and within the buyer's market, Randburg's access to almost every amenity you can think of creates the perfect conditions for a robust and attractive property share.
Spacious 3 bedroom homes for an affordable price are exceptionally hard to come by in Gauteng. Randburg's listings of 3 bedroom homes range anywhere between R1.5 million to R2 million with sizeable gardens that can be found in areas such as Ferndale, Northwold, Randpark Ridge, North Riding, Olivedale, Blairgowrie, and Sharonlea.
Randburg currently has 1216 new property listings with an average asking price of a fair R1.535 million. - Stats from Property 24 Data Trends.
Care to take a look at some of the most prestigious homes in Bryanston? Read more - Exclusive Living in Bryanston - Five Luxury Homes
To contact us, follow the link: https://www.homesofdistinction.co.za/
To contact one of our Property Practitioners, follow the link: https://www.homesofdistinction.co.za/agents/
Author: LV Digital
