Cluster and complex homes are in high demand from a security and convenience perspective, but freestanding homes are still the preferred option for Jozi city dwellers who prioritise freedom of space, privacy, nature and sizeable gardens, especially those who want to add their own value and personal stamp.
This is according to Cobus Odendaal, CEO of Lew Geffen Sotheby’s International Realty in Johannesburg and Randburg, adding that house sales have risen in sought-after suburbs like Duxbury, River Club, pockets of Bryanston, Sandhurst and other older established suburbs where freehold homes still dominate.
READ: 10 Johannesburg neighbourhoods offering a good quality of life
High house prices recorded
“In River Club, where the highest median house price was R4.2 million in 2015, it reached R4.215 million this year and sales volumes have also spiked with 76 transactions recorded last year compared to the previous high of 60 in 2013.
“In Bryanston as a whole, a record number of houses (410) changed hands last year, although some areas fared better than others.”
Grahame Diedericks, Manager Principal in Midrand for the group says location is an important factor when it comes to freestanding homes and areas like Vorna Valley which is situated close to Waterfall, Midrand’s new amenities and major arterial routes is very popular.
“The median sale price of freestanding homes has been consistently record-breaking since it reached R1.7 million in 2019, increasing to R1.75 million in 2020, to R1.854 million in 2021 to rising again R1.9 million this year.
“Likewise, in Noordwyk, where last year’s record median house price of R1.505 million has already been trumped this year when it reached R1.6 million before the end of February.
According to Lightstone data, last year Randpark Ridge saw a record number of house sales (324), the highest number of houses changed hands in Melville since 2012 and in Blairgowrie sales volumes matched the previous high of 196 in 2015.
Hidden gem in the rough
Much has been made over the years about finding that elusive gem in the rough - the “renovators dream” - which can be transformed and then sold at a good profit and, whilst it’s still possible, Odendaal says these properties are now fewer and further between.
“The best suburbs to look are in Linden, Blairgowrie, the southern side of Northcliff Koppie, Randpark Ridge and Melville and to snap up one of these gems you need to keep your nose to the ground and be aware of these properties as they come onto the market.
“The best way to do so is to establish a relationship with an experienced agent in your preferred area who will notify you as soon as they are listed – and then do not hesitate because it’s very likely to be snapped up whilst you are still thinking about it.
“But, considering the current costs of building and vacant land, it can really be worth your while as it’s can be more economical and much easier to create your dream home this way than to build from scratch.”
SEE: Freehold vs Estate Living | Locals in search of security and a better quality of life
Diedericks says that in Midrand, a number of older established estates are also attracting the attention of buyers looking to add their own value and personal stamp.
“Kyalami Estate, Carlswald Lifestyle Estate and Kyalami Glen seem to be pulling a lot of interest in this market and are great options because for the most part, they require cosmetic upgrades such as a fresh coat of paint, garden landscaping and minor kitchen and bathroom upgrades.
“And, being sought-after developments, you will always get a return on the additional investment if you don’t overcapitalise with unnecessary additions like smart home technology, pool installations and ultra-high-end finishes.”
“Any good modern renovation offering good finishes receives more than its fair share of buyer attention at the moment and you can’t go wrong if you focus on creating a fresh first impression and ensure there are no tired aspects to the house,” concludes Odendaal.
“Make sure you know the ceiling value of properties in your area and focus on quality over quantity, especially regarding craftmanship. Replace the items that really date a home such as light fittings and tired linoleum flooring. And if your budget stretches to it, guest suites or granny cottages are always in demand.”
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*Property24 Listings Data Disclaimer: The trends detailed in this article are based on Property24 listings, current at the time of publishing, and property transfer data supplied by Deeds offices, which typically take 3-4 months to reflect. Suburbs are listed according to Property24's geographical database. In some areas this will include both commercial and residential properties. The age demographic data of buyers, sellers and stable owners is determined over a six-month period. These Property Values should not be used as a substitute for independent professional advice and is subject to Property24.com Terms and Conditions
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