Gauteng tops the list of mid-priced suburbs for first-time buyers and upwardly mobile buyers looking to buy bigger or better according to the Seeff Property Group.
A recent Lightstone study confirmed that the highest prevalence of first-time buyers is across Gauteng with some twenty suburbs topping the list. Essentially, buyers are looking and investing across the greater Johannesburg-Pretoria metro according to Seeff’s licensees in these areas.
The most active sector is the R700 000 to R1.5 million bracket with the Deeds Office data showing that as much as 35% of recent buyers in the Johannesburg and Pretoria areas are young, often first-time buyers and as much as 42% in the Sandton area.
Most of the buyer hot spots performed well during 2020 when compared to 2019 and prices have held firmly with uptick in some areas according to Seeff.
Seeff highlights some areas where first-time buyers are currently finding the best value in Gauteng:
Pretoria: apartments and townhouses are selling from R900 000 in Centurion and Pretoria East
As the administrative capital and seat of government, Pretoria is a busy metro and boasts high demand from upwardly mobile buyers. Tiaan Pretorius, manager for Seeff Centurion says first-time buyers find great value in areas such as Amberfield and Thatchfield, two great security estates, professionally managed and offering parks and play areas and proximity to schools and amenities. You can for example find a three-bed duet with a double garage for R1.5 million which is ideal for young professionals and families.
Although home to some of the most exclusive suburbs, Pretoria East does offer neighbourhoods such as Equestria and Moreleta Park which are great for first-time buyers, says Gerhard van der Linde, managing director for Seeff Pretoria East. Deeds Office data shows the suburbs have performed well during 2020 compared to 2019.
“The price points are very accessible” he adds. “You can for example find a small two-bed townhouse for around R900,000 and up to three bedrooms with a double garage and small garden for around R1,5 million. These are great suburbs for young families as there are schools, churches, and other family-friendly amenities”.
Sandton: investment apartments for under R1 million in Douglasdale and surrounds
Sandton is a bustling residential property market which performed well during 2020 despite the challenges of the Pandemic. Many first-time buyers are taking the opportunity to get onto the property ladder while others are buying up, says Charles Vining, managing director for Seeff Sandton.
For young professionals, apartments and sectional title property offer great value and this sector was particularly active over the last year. The best value for first-time buyers is in Douglasdale, Paulshof and Lonehill where you can find apartments for under R1 million. These apartments are often sought for investment purposes as well. The suburbs offer good proximity to the Sandton, Montecasino and the Fourways precincts. Apartments are also often sought for investment purposes.
Midrand: townhouses selling from R800 000 in Noordwyk
Midrand is popular for its affordability and centrality for those working in Johannesburg, Sandton, Midrand or Pretoria as it offers easy access to the N1 and M1 highway interchanges, says Vining further.
Glen Austin and Noordwyk offer accessible pricing for first-time buyers in the R800 000 to R1.8 million range. “For R800 000 you can for example find a two-bed apartment with covered parking in a great security complex in Noordwyk with a club house, tennis court and swimming pool. For R1.5 million you can find a nice full title three-bedroomed cluster in Fairview Estate which offers a family-oriented lifestyle and proximity to private and public schools”.
East Rand: starter homes selling from R800 000 in Kempton Park
Some of the best mid-priced neighbourhoods can be found on the East Rand where first-time buyers especially can find exceptional value. The area is made up of what were small towns, hence offering various CBDs and excellent amenities including great schools.
It really is a buying paradise for first-time buyers and is especially family friendly. According to André Landman, licensee for Seeff Kempton Park, you can find a nice three-bedroomed townhouse with a garage in a secure complex for around R1.2 million and great family houses for up to R2 million, but stock is always in short supply at the lower price levels making these great investments.
Randburg and Roodepoort: family houses from R1.5 million
The Randburg and Roodepoort area offers exceptional value for first-time buyers and those looking to buy up but still at affordable prices, says Duane Butler, general manager for Seeff Randburg. There is a large selection of properties to choose and many sectional title complexes in the R800 000 to R1.5 million range. There are some cluster developments and freestanding houses in certain suburbs that offer accessible pricing in this range.
East Town and Albertville are among the most affordable offering free standing homes on a good-sized stand of 500-700m2 with three bedrooms, a garage, and outbuildings for around R1.5 million. The suburbs offer excellent value for money and proximity to Randburg and Roodepoort, the CBD and Sandton business areas. There are several good schools in the area which is great for young families.
Butler says Northriding, Northwold, Sonneglans and a certain portion of Ferndale offer affordable small cluster homes selling in the R1.5 million range. These suburbs offer proximity to various business and commercial nodes and access to great shopping centres such as Cresta, Northgate and Clearwater.
Source: Propertywheel.co.za | https://propertywheel.co.za/2021/04/gautengs-mid-priced-suburbs-boom-as-buyers-flood-the-market/