Joburg North has many large, older properties that could be profitably redeveloped without fears about over-capitalising. The area is close to Fourways and Sandton and has excellent access to major highways, so it offers residents a good commute
Johannesburg North, often referred to as Joburg North, is an established and almost fully developed older suburb consisting mainly of freehold houses offering ample renovation opportunities.
Carmen Mulder, area specialist agent for Frankie Bells Real Estate, says: “There are still older, rundown dwellings that offer opportunities for investors and forward-thinking homeowners to buy into property at reasonable prices and to renovate extensively without fear of over-capitalising.”
Mulder says potential buyers should not be afraid to buy a rundown home: “You will be able to redevelop extensively, have a fabulous spacious home for your family, and run a low risk of over-capitalising because of the inherent value in both the large property and the location.”
She notes an upward trend in sale prices generally, and reliably high prices for well-revamped houses are being achieved in Joburg North. She believes Joburg North is “a real gem” as there is further value to be realised from “the fundamentally brilliant location” of the suburb, a reality Mulder says will become even more evident when the Fourways redevelopment is completed.
The suburb’s ideal location close to good schools and shopping centres augurs well for a convenient lifestyle and for a favourable projection in property values, says Mulder.
“Joburg North is extremely well located close to the major developments underway in Fourways and has easy access to the major east-west artery of Witkoppen Road, as well as to Cedar and Main roads towards Midrand.
“It is also offers easy access to the N1, and with several roads leading “into the Ring”, towards the Sandton CBD, it is a real commuter haven.” With neighbouring Olivedale, Jukskei Park and Douglasdale all ranked higher-than-average in terms of house prices, the area has great growth opportunities.
The median freehold house price may have drifted slightly but the area experienced several years of great growth, with the exception of last year and early this year due to economic and political uncertainty. Post-election, the upward trend is expected to resume, Mulder says.
There’s no discernible variation in property prices across the suburb, but pockets of high and low prices exhibited all along the three main long roads of Pritchard, Church and Market streets, and the several cross roads, indicating value can be extracted in all areas.
Revamped homes can fetch well above R2.5m, says Mulder. “Investors are generally interested in the older houses which offer significant profit after redevelopment.”
She says the area is great for investors and home buyers with an eye towards appreciating property values, and who realise the value in large residential properties with potential alternate use in future.
The market stock includes significantly higher-priced properties zoned for commercial use. North Riding is slightly pricier.
Denalee Drotskie’s favourite places and things to do
1 All Saints Centre
It’s a convenience mall, with Woolworths and Clicks, a great Italian restaurant called Luigi. The mall is also conveniently close to home. President Fouché Drive and Windsor Way, Olivedale, Randburg. 011 462 4212, Luigi’s Pizzeria, 011 704 5580
2 The Clay Oven
It’s a home from home. The owners are Greek and Portuguese and cook for all tastes. This very popular restaurant also hosts Greek evenings. 59 Platina Street, Jukskei Park, Randburg. 011 462 2027
3 Papa Pronto
This restaurant opened about three weeks ago and serves great food. 13 Valley View Centre, corner Elm Avenue, Fourways. 011 465 2170
4 The Baron
It’s a fine eatout with outside seating. Harmmets Crossing Office Park, 2 Selbourne Road, Fourways. 011 704 7859
5 Doppio Zero
Thin crust gourmet pizzas. Pineslopes Shopping Centre, Witkoppen Road and The Straight Avenue, Pineslopes, Fourways. 011 465 7580
6 Joshua Tree Restaurant and Bar
For top cocktails. Cosy and casual. Northlands Corner Shopping Centre, corner Witkoppen and New Market roads, North Riding. 010 020 2059