Fourways has come a long way since being a four-way stop and today the area has two of the most expensive estates in Gauteng, offering potential homeowners convenience and more
Favourable lending rates will assist the first-time homebuyer in enjoying a toe-hold in fancied Fourways as a positive political outlook looks set to shift real estate back to a seller’s market.
Sellers can expect an advantage as limited market stock will be good for values. However, it is still of critical importance that homeowners list properties at realistic values as the longer a property sits on the market, the less attractive it becomes to buyers, says Tanya Mason of Mason Real Estate team with Keller Williams Realty International.
“Fourways is the fastest developing commercial and residential node in northern Sandton, and possibly Greater Joburg, at the moment. It’s an excellent time for investors to buy into the area before growth, and prices, skyrocket,” advises Mason, who cautions that knowing when to buy into an area is crucial.
In the case of Fourways, now is the time, she says, supporting her assertions with data from the second quarter of the year.
Signs that sentiment is favouring property owners are evident in second quarter figures for freehold homes in Fourways, which now average at R2.8 million, up from last year’s overall average of R2.5m.
In Fourways Gardens, freehold property averages R3.056m, down from last year’s figures of R3.6m, with second quarter sectional title values at an average R1.1m, an increase from last year’s R927 000 mark, says Mason.
“There’s an excellent assortment of property types in Fourways, including freestanding homes, villages in the form of boomed roads, clusters in secure estates and sectional titles, and a few pockets of land still available, but scarce,” she says.
One can pick up a one-bedroom apartment measuring 50m² or slightly bigger for R699 000, or a 24ha piece of land ready for development at R17.5m, says Mason.
A private company has just listed two estates in Fourways – Helderontein Estate (median R7.995m) and Dainfern Golf Estate (median R7.750m) – among the 10 most expensive estates in Gauteng.
Mason says Fourways is unbeatable for convenience. The Fourways Mall is undergoing a multi-billion-rand renovation, there have been upgrades to roads and other infrastructure, and Montecasino is on the doorstep for gaming, movies, theatre and shopping.
A local company is set to bring an international franchise to Fourways Mall in an investment worth R400m that will create 500 jobs at the branch alone, says Mason.
She says schools are also a major attraction. These include the public Fourways High and several private primary and pre-primary schools.
Mason says: “Fourways has come a long way since its rudimentary beginnings as a four-way stop.”
She warns the refrain “location, location, location” should not be limited to the suburb alone, but to positioning within the estate, sectional scheme or road.
One also needs to verify with one’s agent any special levies and where renovations may be required.
Similar values in terms of pricing, as well as identical house types, are found within the Douglasdale area, says Mason.
Amy Mason’s places of interest and things to do
1 God First City
Everyone is so welcoming at this church and there’s a real feeling of togetherness. Shop 17, The Buzz Centre, Witkoppen Road, Witkoppen, Sandton. 011 658 0512
I go there for movies and there’s a bookshop where my cousin and I hang out for hours. Montecasino Boulevard, Fourways. 011 510 7000
3 Neighbourhood Park
This park is close to Fourways High. It is a favourite for its open fields and also has a jungle gym and skate park.
4 Fourways Mall
There’s a great bookstore, shops and adventure golf. William Nicol Drive and Fourways Boulevard, Fourways. 011 465 6095
For great pizzas and pastas. Shop 23 Kingfisher Centre, Kingfisher Road, Fourways. 011 467 3862
6 La Nouva
Family Restaurant Great for breakfast. 6 Fourways Gardens Centre, Uranium Street. 011 467 5763