Variety of property offerings and access to amenities including schools
One area where that amount will give good value is Malanshof. Homes above the R1.5m threshold have struggled to sell in a tough market, says Mariska Hamel of Keller Williams Realty.
“There has been a decline in values in sectional title and freehold properties, and we believe this is mostly due to the political and economic climate as well as high emigration figures,” says Hamel, who has over the years witnessed property values in Malanshof appreciate tremendously.
She expects a rebounding economy to reignite this trend. For example, the median in 2009 for sectional titles was R620000 and freeholds R1.13m, but in 2016 these figures appreciated to R998000 and R1.75m.
“Since then a combination of macro and micro economic factors, coupled with a steady outflow of investor capital, has seen a slump in demand for properties priced above R1.5m, which has affected areas such as Malanshof,” says Hamel, adding that this has led to fewer offers in the past two years.
“But we have also seen good investment opportunities. The increase in the numbers of residents emigrating has seen some offering their properties at discounted values, thus pushing down the median price.”
This means those with an appetite for risk have the opportunity to acquire property as an investment, particularly as rental income is still stable.
“Some professionals would choose to live in a secure suburb with minimal peak-hour traffic issues and travel the 5km to 7km to their work in Cresta or Randburg CBD rather than actually live in those areas,” says Hamel.
“Malanshof offers a wide variety of properties such as free-standing homes, compact cluster homes as well as great investment apartment units in security complexes.”
She says there are also still fairly good homes available that need renovation and can be purchased at a more affordable price.
Such properties are considered ideal for the younger generation of buyer, young families or investors willing to enter the property market.
The bulk of properties sold in Malanshof over the past 12 months have been priced between R800000 and R1.5m, with 29 of these sold, says Hamel.
Conversely, only one property priced between R1.5m and R3m has sold as a second sale over the same period, with a further 25 properties transferred as new developments in the same price range, she adds.
Although there are stands as large as 4500m² to be found here and there in the neighbourhood, these are mostly prized for their development prospects, says Hamel.
Malanshof was established in the early 1960s. Randpark Ridge is marginally more affordable.
Bron Thring’s favourite places and things to do
1 Adventure Golf
There are three nine-hole courses for aspirants. The approach to the first tee takes players through a pergola tunnel. There are also log bridges and ravines on the courses. Republic Road, Ferndale, Randburg. 0104429600
2 Walter Sisulu Botanical Gardens
It’s absolutely beautiful and tranquil and is a great setting for romantic picnics. Malcolm Road, Poortview, Roodepoort. 0861001278
3 Ferndale on Republic
It’s got virtually everything, from retail stores, coffee shops and restaurants to entertainment. Republic Road, Ferndale, Randburg. 0118860663
The main attraction is the casino. There are also restaurants and family entertainment. Montecasino Boulevard, Fourways, Sandton. 0115107000
5 Virgin Active
I don’t go there that much now as I have a gym at work. It’s conveniently situated in the neighbourhood. Corner Malibongwe and Bel Airs drives, Northriding, Randburg. 0117042102
6 Rhema Bible Church North
It’s within a five-minute drive of home. They have uplifting services. I usually attend with friends. Hans Schoeman Street, Bromhof, Randburg. 0117964000