First-time buyers and investors can afford to live in the shadow of Sandton by basing themselves in Broadacres, where property prices are positively impacted by ongoing
Owning a home in Broadacres affords buyers the conveniences that comes with living near Sandton while sparing them the extremely high costs normally associated with residing close to Africa’s richest square mile.
So says Frankie Bell’s Denalee Drotskie, sales and rental agent for Broadacres.
First-time buyers and investors can afford to live in the shadow of Sandton by basing themselves in Broadacres, which is relatively cheaper than most major suburbs in Sandton.
“Areas around Fourways appeal mostly to young families and professionals starting out because of its proximity to Sandton and its major suburbs,” says Drotskie.
With mostly developments dominating the market, buyers also avoid transfer costs.
“The ongoing expansion of Joburg to the north has seen the development of new lifestyle estates such as Helderfontein and Steyn City which are positively impacting on property values in surrounding areas such as Broadacres,” says Drotskie.
This presents investors and prospective owners with numerous opportunities.
Fourways is in the midst of a massive development boom, anchored around the Fourways precinct.
Numerous retail centres are being regenerated in an area is close to lifestyle estates and main routes, all of which have led to an increase in demand for residential accommodation in the Fourways area, including Broadacres, says Drostkie.
“Many businesses have relocated in and around the Fourways catchment area and this has also attracted more residents.”
Her advice is for buyers to take advantage of the bargains that are to be found in a buyer’s market. Advice for owners is the opposite: hold on to their properties until the country’s economic outlook improves.
“Prices of developments are higher because they are obviously brand new and come with the benefit of having no transfer fees.
“Other than that, in general properties have been selling at near negative equity.”
Broadacres has a well-diversified property portfolio which attracts a unique mix of investors and owners to the area.
The well-maintained complexes give the area a finished exterior, while the larger properties contribute to the unusual blend of property types and appeal to those wanting city living with a country feel, says Drotskie.
“Broadacres has become much more developed over the years with mostly sectional title units.
“Generally, the demographic is made up of slightly younger adults and small families from a mixture of different backgrounds.”
She says Broadacres offers a diverse lifestyle, citing numerous restaurants and coffee shops in the area and other facilities that are child-friendly.
“The area is bustling with activity,” says Drotskie.
Properties closer to Dainfern tend to be more highly sought after and also retain their value better. Homes close to main shopping areas are also good investments which retain value, says Drotskie. Fourways, Cedar Lakes and Craigavon have similar profiles to Broadacres.
The Szolkiewicz’s favourite places and things to do
1 Broadacres Lifestyle Centre
This is a conveniently situated centre with wonderful restaurants, shops and gardens, and it’s nice to take the family there. Cedar Road, Broadacres, Sandton. 011 467 6421
It’s a great nursery known for quality plants. It’s also a popular family destination. Broadacres Lifestyle Centre. 011 465 4216
This is a wedding venue set in beautiful gardens. It is very busy over the weekends. There’s also a jungle gym for the children. Broadacres Lifestyle Centre, corner Cedar and Valley roads, Broadacres. 011 540 1538
Late-night food and great cocktails. 4, Broadacres Superspar Complex, corner Cedar and Valley roads, Broadacres. 010 590 6228.