The suburb of Edenglen is attracting increasing attention from young families looking to live in the feeder areas for certain sought-after schools, and is currently the busiest property sales area in the East Rand town of Edenvale.
This three bedroom townhouse in Edenglen offers an open plan lounge and a private garden. It is selling for R1.185 million - click here to view.Total property sales in the suburb over the past 12 months were more than double the number in any other part of Edenvale and accounted for almost a third of all property transactions in the town.
This is according to Mike Dobbin, owner of the RealNet Bedfordview and Edenvale franchise, who says sales of sectional title units in housing estates were particularly buoyant, with a total of 163 units sold in the past 12 months for a combined value of R122.76 million.
He says almost 70 percent of buyers in Edenglen over the past 12 months were younger than 45, and many are employed in surrounding industrial areas such as Sebenza and Isando or in industrial parks in nearby Boksburg.
“And although other suburbs in Edenvale also offer good value, Edenglen seems to be the ‘sweet spot’ since it falls in the feeder area for top local schools such as the Edenglen primary and high schools, and the Eastleigh and Hurlyvale primary schools."
The suburb also offers good infrastructure and easy access to main routes, and family buyers in the area generally target comfortable full title homes on large stands, of which 101 were sold at an average price of R1.9 million in the 12 months to end of April, says Dobbin. “However, many are also buying sectional title units in modern and well-maintained housing estates at lower prices to get a foot in the local property market.”
This three bedroom townhouse in Edenglen has an open plan kitchen. It is on the market R1.195 million - click here to view.Young buyers between the ages of 25 to 34 are also targeting sectional title units because Edenglen offers such convenient access to main routes to the Johannesburg CBD, Sandton, Pretoria, and the Oliver Tambo International airport. Many of them also buy with a view to upgrading to larger units or full title homes once they start families.
“Prices for sectional title flats start at around R350 000 for one bedroom units but the highest demand is currently in the R750 000 to R1.3 million bracket, where units of 100 square metres typically offer three bedrooms, two bathrooms and two parking bays,” he says.
Dobbin says at the same time, rental demand for units in complexes is high among young people who still cannot afford homes of their own but want to settle in Edenglen, and investors are now active in the market. “Buy-to-let units in all price ranges are popular as investors are confident demand will be sustained because of the extensive mixed-use developments now being planned on the Edenvale boundary.”
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