It's attractive to younger buyers despite the price spectrum of cluster complexes ranging from R2m to over R5m. The suburb's proximity to Fourways Mall, on its way to complete refurbishment, and other upmarket suburbs is a drawcard
Beverley has demonstrated has higher demand levels on more expensive properties even in a depressed economy where real estate has noticeably underperformed.
This makes the suburb something of an anomaly as the story thus far in this lacklustre cycle has been that more expensive properties have been slow in attracting offers. Whereas a large number of luxury homes have been seen to languish on the market, those that eventually sell hardly meet the asking price or their real worth, according to analysts.
Madeleine Marais of Otter Estates says: “There have been several sales over the R4 million threshold in Beverley in the past 18 months. Recently we concluded a sale at R3.8m in Valbonne. We are marketing another unit in Valbonne at R4m and one in Tannenberg at R4.995m.”
She lists the more exclusive estates as including Valbonne, Tannenberg, Rockvale and Tanglewood, adding that these command the highest prices in the area.
“Residents of Beverley show a continued pride of ownership.” Beverley is thus a standout given that top-end properties have struggled on average with the market demonstrating a weak economy. This becomes clear when one looks at the price spectrum of the predominantly cluster complex homes in the suburb, which ranges from R2m to over R5m. Of the factors that explain Beverley’s singular resilience, they include its relatively recent establishment, which means it is more attractive to younger buyers, including millennials, says Marais.
“The first estates were completed in the late 1990s.”
Recently several apartments bordering William Nicol have been completed. “Beverley is a prime location with good schools and convenience. Turnover is constant. Prices have not moved much. “Considering the downturn in the market the neighbourhood has held its own well,” she says.
The convenience appeal is apparent because Beverley is easily accessible to all major routes, and there are plenty of shopping and entertainment facilities close by.
Most pundits have encouraged investors to buy in Beverley for the simple reason that homes are expected to appreciate in value when ongoing developments around the Fourways Mall precinct are complete.
Most residents also contend that personal safety and security were top considerations when choosing Beverley as their home. Beverley shares and enjoys much of the security and environment initiatives of Lonehill, which are known to be among the best in Joburg’s northern suburbs.
Recently, although several developers have broken ground to launch new estates, most have been put on hold as developers have realised the excellent value for money of the second-hand homes on offer, observes Marais. Lonehill is a great deal more affordable
Debbie de Wet’s favourite places and things to do
1 Lonehill Shopping Centre
They host a Parkrun every Saturday morning so we registered and joined. It’s divine – so fulfilling. 22 Lonehill Boulevard, Lone Hill, Sandton. 011 465 9897
2 Banjaara Indian Restaurant
They offer sit-down and takeaway options and serve wonderful Indian-type cuisine. Cnr Mulbarton Road and William Nicol Drive, Lonehill. 011 465 8326
It’s a mere 5km away and ideal for gambling, movies and dinner. Montecasino Boulevard, Fourways. 011 510 7000
4 Fourways Mall
With all the renovations taking place there it may not be the most comfortable place to do your shopping at the moment but it’s still convenient. It will be wonderful when the renovations are completed. William Nicol Drive and Fourways Boulevard, Fourways. 011 465 6095
All you can eat, great cocktails, cash only. Leaping Frog Shopping Centre, William Nicol Drive, Fourways. 011 483 1910
6 Browns of Beverly Hills
Reservations required, latenight food. 31 Mulbarton Road, Beverley AH, Sandton. 060 946 9975