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Johannesburg - The ongoing issue of tollgates is causing buyers to be far more selective in their final choice of a new home and they often elect to find a home close to their work, according to Ken Woollcott, Pam Golding Property’s area manager in Bedfordview.
Buyers are particularly concerned with traffic congestion in and around Johannesburg, he said.
In Fourways, PGP area manager Jason Shaw, reported a buoyant market characterised by shortage of stock.
With easy access to transport routes and good infrastructure, this area is very family oriented and also caters for first time buyers.
Cluster homes priced from the early R1m to the early R2m are extremely busy.
A slight ease in finance restrictions from the lending institutions and renewed buyer confidence has resulted in an upbeat demand for properties across the board in the greater Bedfordview area.
There is definitely a trend towards a lifestyle of work, live and play, according to Woollcott.
South Africans increasingly want to own a home which offers a desirable lifestyle and which is located within easy reach of transport hubs, according to Dr Andrew Golding, CEO of Pam Golding Properties (PGP).
"Vibrant, revitalised nodes or brand new nodes are gaining in popularity such as Melrose Arch in Johannesburg, Gateway in uMhlanga, KwaZulu-Natal, Maboneng Precinct in Johannesburg and Cape Town’s central city and Woodstock inner city regeneration nodes," according to Dr Andrew Golding, CEO of PGP.
"A strong contributory factor to market activity here is the continually growing black middle class sector," he said.
Mix of buyers
In Maboneng Precinct there is interest in residential property among a broad mix of buyers both from Europe and South Africa, of which about 20% are black buyers.
The general growth of new businesses and factories in Modderfontein has brought an increase in demand for rental properties. This is partially prevalent in the new and fast going area of Greenstone.
In Glenvista, Nigel Mullin, area manager for PGP said properties priced around the R900 000 to R1.2m price sell easier, but buyers looking to purchase in the current market are looking for fair value.
In the south of Johannesburg there are a number of estates that are in the process of being developed.
An example is the Meyersdal Eco Estate, where prices range from around R5m to R35m.
Anne Fry, PGP’s area manager in Northcliff, Randburg and North Western Suburbs said pricing and stock shortages are key factors driving the market at present.
Areas where good buys can be obtained include any of the newly upcoming areas like Linden, where people are retiring and new young families moving in and renovating in order to take advantage of good, long-established schools.
In Midrand, PGP area manager Tony Santana, said significant factors at play in the market at present are the low interest rates, the emerging market and demand from first time home buyers.
Trends are very much for a secure lifestyle within gated communities or complexes with easy access to the CBD.
The most popular hot spot at the moment in Midrand is Waterfall City which comprises the Waterfall Village and Country Estates with prices ranging between R2.5m to R10m.
Quick sellers
In Pretoria, PGP regional executive Retha Schutte, said there is a shortage of stock across all areas and especially in the price range from R1.5m to R2.5m.
Well priced homes are selling within six weeks, whereas previously it took up to four months. Price is driving the market at present.
As a result of the high demand for rental properties and the attractive rentals being paid, sellers are opting to rather rent their properties, than to reduce their asking prices.
In terms of sound buying opportunities there are properties that are 20 years and older and in need of repair and renovation and therefore more reasonably priced.
These properties are attractive to buyers as they have larger stands and more privacy than properties in security and golf estates and they also have 24 hour security. These include areas such as Lynnwood Glen, Faerie Glen and Waterkloof Glen.
- Fin24
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Buyers are particularly concerned with traffic congestion in and around Johannesburg, he said.
In Fourways, PGP area manager Jason Shaw, reported a buoyant market characterised by shortage of stock.
With easy access to transport routes and good infrastructure, this area is very family oriented and also caters for first time buyers.
Cluster homes priced from the early R1m to the early R2m are extremely busy.
A slight ease in finance restrictions from the lending institutions and renewed buyer confidence has resulted in an upbeat demand for properties across the board in the greater Bedfordview area.
There is definitely a trend towards a lifestyle of work, live and play, according to Woollcott.
South Africans increasingly want to own a home which offers a desirable lifestyle and which is located within easy reach of transport hubs, according to Dr Andrew Golding, CEO of Pam Golding Properties (PGP).
"Vibrant, revitalised nodes or brand new nodes are gaining in popularity such as Melrose Arch in Johannesburg, Gateway in uMhlanga, KwaZulu-Natal, Maboneng Precinct in Johannesburg and Cape Town’s central city and Woodstock inner city regeneration nodes," according to Dr Andrew Golding, CEO of PGP.
"A strong contributory factor to market activity here is the continually growing black middle class sector," he said.
Mix of buyers
In Maboneng Precinct there is interest in residential property among a broad mix of buyers both from Europe and South Africa, of which about 20% are black buyers.
The general growth of new businesses and factories in Modderfontein has brought an increase in demand for rental properties. This is partially prevalent in the new and fast going area of Greenstone.
In Glenvista, Nigel Mullin, area manager for PGP said properties priced around the R900 000 to R1.2m price sell easier, but buyers looking to purchase in the current market are looking for fair value.
In the south of Johannesburg there are a number of estates that are in the process of being developed.
An example is the Meyersdal Eco Estate, where prices range from around R5m to R35m.
Anne Fry, PGP’s area manager in Northcliff, Randburg and North Western Suburbs said pricing and stock shortages are key factors driving the market at present.
Areas where good buys can be obtained include any of the newly upcoming areas like Linden, where people are retiring and new young families moving in and renovating in order to take advantage of good, long-established schools.
In Midrand, PGP area manager Tony Santana, said significant factors at play in the market at present are the low interest rates, the emerging market and demand from first time home buyers.
Trends are very much for a secure lifestyle within gated communities or complexes with easy access to the CBD.
The most popular hot spot at the moment in Midrand is Waterfall City which comprises the Waterfall Village and Country Estates with prices ranging between R2.5m to R10m.
Quick sellers
In Pretoria, PGP regional executive Retha Schutte, said there is a shortage of stock across all areas and especially in the price range from R1.5m to R2.5m.
Well priced homes are selling within six weeks, whereas previously it took up to four months. Price is driving the market at present.
As a result of the high demand for rental properties and the attractive rentals being paid, sellers are opting to rather rent their properties, than to reduce their asking prices.
In terms of sound buying opportunities there are properties that are 20 years and older and in need of repair and renovation and therefore more reasonably priced.
These properties are attractive to buyers as they have larger stands and more privacy than properties in security and golf estates and they also have 24 hour security. These include areas such as Lynnwood Glen, Faerie Glen and Waterkloof Glen.
- Fin24
Add your voice to our Property Issue:
* Write a guest post
* Share a personal story
* Ask the experts
