Craigavon is benefiting from the ongoing boom in residential and commercial development in Fourways and surrounds, and property prices are going up as fast as the new buildings and infrastructure
Craigavon forms part of a node regarded as the fastest-developing commercial and residential hub in Sandton, possibly in all of Greater Johannesburg, say analysts.
The suburb, along with Fourways and surrounds, is within a precinct that has experienced phenomenal growth in property values, underpinned by a boom in commercial and residential development and infrastructure upgrades.
“Over the past decade, Fourways and surrounds have increased in popularity, and this trend is set to continue as the area continues to develop,” says Jonathan Davies, Gauteng regional director for Tyson Properties, whose company is well-established in the area.
Davies foresees Fourways developing its own CBD, and says Craigavon is well-positioned to benefit from growth and development in the area, which includes ongoing work on the new mall in the Fourways precinct – a project he believes will enhance the area’s popularity and bolster property prices.
“As the new mall develops, Craigavon and other surrounding suburbs are becoming of interest to investors.”
An analyst has pointed out that property prices in Craigavon averaged between R750 000 and R1.5 million not too long ago, but on average now start at about R2m.
The area’s appeal is partly due to it being highly convenient, says Davies. It is situated close to main routes, shopping facilities, parks and recreational spots and medical services.
“Cedar Life Hospital is within 2km of the suburb and Cedar Square literally borders the suburb,” says Davies, who also cites ready access to main routes such as Witkoppen Road and William Nicol Drive.
One is more likely to find compact, sectional title and cluster-type homes although larger homes with big gardens are also in the area, says Tanya McGowan, estate agent at Tyson Properties Fourways office.
She says first-time and young buyers are the most common demographic, noting 56% of recent buyers were aged between 18 and 35.
If you are after a lock-up-and-go lifestyle or looking for more space to grow your family, you will be accommodated in Craigavon, says McGowan.
That 60% of recent sellers were mature people (36 to 49 years of age) is indicative of Craigavon’s transitional character as an area where residents eventually leave for larger homes. As many as 90% of homebuyers remain in the suburb for under five years, McGowan says, citing figures from property data company Lightstone.
She says properties vary from about 20 years old to homes built two to three years ago, and also newly developed homes and others still to come on to the market. Development has been put on hold on some vacant land, pending recovery of the depressed market, says McGowan.
Davies encourages prospective buyers to do thorough research to get a great deal in a buyer’s market.
“It is probably a good time to purchase in this area as the future growth once the Fourways mall project is completed will be good,” he says.
Sectional values here compare favourably with those for Fourways Gardens.
Jason Craze’s places of interest and things to do
This is a great owner-managed restaurant and takeaway serving excellent food, with excellent service and a great vibe. 13 Valley View Centre, Elm Avenue, Fourways. 011 465 2170
2 Salsa Mexican Grill
It’s all about fantastic food and great nightlife. Corner Witkoppen Road and The Straight Avenue, Pineslopes Shopping Centre, Fourways. 011 465 3199
I like it for the beer, great vibe and great nightlife. Corner Sunset Avenue and Witkoppen Road, Fourways. 011 465 2402
This popular leisure complex houses a casino, two theatres, cinemas, a mall, and many eating options, both sit-down and takeaway. There is also a bird park. Lots for children and adults to do. Montecasino Boulevard, Fourways
5 Calisto’s Portuguese Restaurant
Cosy restaurant with standard, set, cocktail and wine menus. Cedar Square, corner Cedar Road and Willow Avenue, Fourways. 011 467 1979
6 Yamakado Sushi Restaurant
Delicious all you can eat. Casual and groups. Shop U5, 7 Cedar Road, Fourways. 011 465 5561