Competitively priced in relation to suburbs such as Sandton and Rosebank, which have become expensive. Its location offers value for money and a good investment opportunity
“The area has shown resilience, especially in the sub-R1 million starter home bracket,” says Jonathan Davies, Gauteng regional director, Tyson Properties.
“This price band constitutes almost 50% of sales over the past 12 months,” he says. The area’s centrality makes it expedient to invest here as nearness and easy access to freeways and main routes, as well as amenities such as upmarket shopping malls, guarantees constant custom, thanks to the attendant comfortable lifestyle, says Davies.
These favourable factors have enabled Weltevreden Park to demonstrate remarkable resilience and post a slow but steady annual increase in values in a challenging environment.
“The median price has gradually increased since 2015 from R1.45m to R1.6m in 2019. It has not shown the traditional contraction some other suburbs have seen, and this area has appreciated steadily over the past five years,” says Davies.
“At the top end of the market, prices vary between R2m and mid R2m, with a free-standing home achieving a selling price of R2.6m.” This consistency is because the suburb remains competitively priced in relation to central northern suburbs like Sandton and Rosebank which have become quite expensive. “In a contracting economy buyers seek homes in good areas which still offer value, and this could be the result of an increase in demand for this suburb,” he says.
Many affordable townhouse complexes that allow young people access to the property market are complemented by freehold properties that offer great value. Residents can thus upgrade within their suburb and continue to enjoy familiar conveniences.
For obvious reasons, properties located further away from the N1 highway are more popular with buyers. Nevertheless, demand will always remain good in Weltevreden Park, regardless of location, as the area offers value for money to price-sensitive buyers, says Davies.
“As in any suburb, there will be the investment hotspots and cool spots and Weltevreden Park is no exception. Many investors opt for the cluster or sectional title-type homes. Freehold homes offer reasonable investment potential, but are better suited to own-and-live buyers.”
Sectional title and cluster homes offering better security are often considered better investment vehicles, and as a consequence offer a better return on investment. It also helps that they are easier to maintain and save owners costs.
Davies encourages prospective buyers to do their research and engage with a bond consultant to determine affordability. They must then move to make an offer without delay or they will lose their dream home by waiting for a better bargain, he says.
He also cautions sellers to price their properties correctly as overpriced homes tend to sit on the market and “become stale”. Property values here are more or less uniform to those for Radiokop, with Strubens Valley a tad more expensive.
Didi Koka’s places of interest and things to do
1 Loerie Park
You can safely walk the dog in this park. It’s a great family environment and an ideal place to wind down. 41 Ferero Avenue, Randpark Ridge, Randburg. 0117126600
2 Doppio Zero
The ambience is nice. You also have the option of indoor or outdoor seating. Their food is great. Shop LM 133, Clearwater Mall, corner Christiaan de Wet and Hendrik Potgieter roads, Strubens Valley, Roodepoort. 0105912129
This leisure complex has a great selection of restaurants, and you can also go gaming or bowling. There’s lots you can do in an extremely exciting environment. Montecasino Boulevard, Fourways. 0115107000
4 Nu Metro
My 10-year-old son likes movies and my life revolves around what he watches. Clearwater Mall, Hendrik Potgieter and Christiaan De Wet roads, Strubens Valley. 0116754002
5 Our Coffee Shop
It is a cosy and casual venue. Shop 4B, Rock Cottage, John Vorster Road, Weltevreden Park. 0117943400
6 La Rosa Mexican Grille and Tequileria
Late-night food. Honeydew Village Centre, Christiaan de Wet Road, Weltevreden Park. 0116752544