Johannesburg’s upmarket suburbs of Northcliff and Fairland have become extremely popular among professionals, couples and starter families aged between 25 and 40.
The latest Lightstone figures show that 39% of recent buyers in Northcliff are aged between 18 and 35, while 45% of recent buyers in Fairland fall into that age bracket.
“Both areas not only meet the needs of young professionals, but are ideal for families looking to put down roots,” says Maria Grieve, Adrienne Hersch area expert.
She says both areas offer residents an unparalleled lifestyle full of practical convenience with a multitude of entertainment offerings, proximity to major transport routes and leading schools.
Grieve says these areas offer a diverse mix of homes for all types of budgets, from luxury family homes to fixer-uppers to sectional title cluster homes and apartments.
Both areas have become synonymous with offering buyers excellent value in comparison with neighbouring suburbs, she says.
Buyers can expect to pay between R995 000 and R2.25 million for a two bedroom apartment in Northcliff. A three bedroom townhouse in the suburb can fetch anywhere between R2.2 million and R3.7 million. At the same time, a two bedroom apartment in Fairland will cost between R775 000 and R1.5 million, while a three bedroom townhouse will sell for between R1.18 million and R2.7 million.
Prices for freestanding homes in both areas vary significantly based on size, location, finishes and features.
Northcliff is 53% larger than Fairland, which is reflected in the number of freehold homes in the area - 63% compared to 41% in Fairland.
Fairland however has a larger constituent component of complexes, close to 50%, whereas this type of ownership in Northcliff comprises just 25%.
A significant reason for Northcliff and Fairland’s rising popularity is recent commercial and retail development in surrounding areas of Randburg, Constantia Kloof and Roodepoort, says Grieve.
She adds that a major reason for Fairland’s climbing popularity is its strong reputation for safety.
“According to crime statistics released in 2018, Fairland is the safest area in Johannesburg,” says Grieve.
She says she expects both areas to perform strongly for the remainder of 2019. “I think Gauteng’s property market in general will receive a welcome boost after the elections. Fairland and Northcliff in particular will continue to perform strongly due to their easily accessible locations, broad mix of available properties and value for money.”
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