Younger buyers, families pile into Sandton/Joburg North’s swanky suburbs

Data shows that younger buyers are heading to the Sandton/Joburg North suburbs in their droves. Seeff Sandton’s MD, Charles Vining highlights that the Sandton and Johannesburg North are home to some of the most sought-after real estate in the country along with some of the best schools which are drawing buyers to these areas.

Notably, young buyers and families are piling in with Lightstone showing that some 78% of buyers over the last year were under the age of 50-years with half of those being under the age of 35-years.

Morningside, Bryanston, Lonehill and Parkhurst were revealed as the biggest selling suburbs for 2024 by Lightstone while Fourways and Parkhurst were among the fastest selling suburbs. Seeff agents are reporting a welcome return of energy to the market with FNB for example also recently reporting that house prices are rebounding with better growth compared to the last two years.

Lightstone data shows that Sandton is a high-volume property market with some 7,165 transactions for the broader Sandton area last year, and Bryanston adding a further 976 transfers. The overall transaction price for Sandton is around R2.5m with freestanding houses at about R3.5m on average. Vining says the R3m-R8m range is the most active for family houses. Overall, about 8.2% of all transactions are priced over R5m.

Sandton and Joburg North offer the most sought-after addresses and access to top-tier schools and amenities, underscoring demand for property, he says. The attraction also lies in the choice of property options, from sectional titles to clusters and large family houses on big plots with swimming pools, and sometimes a private tennis court as well. Most of these come with extra living space and outdoor entertainment areas.

Several high value sales have been recorded this year so far for the Sandton and Joburg upper income areas. These include Sandhurst (R75m), Bryanston (R40.25m), Inanda (R27m), Morningside (Cloud’s End Estate) (R25.5m), Illovo (R22m), Dainfern (R21m), Westcliff (R20m), and Sandown (Michelangelo Towers Penthouse) (R20m).

Some of the top area sought out by high income buyers for access to top schools include:

#1 Bryanston – Large and leafy, Bryanston is one of the most active areas with some of the highest sales volumes and prices paid of over R20m-R40m in recent years. The strong sales performance is attributed to the central location and access to major arterials, and top-rated schools, including Bryanston Primary and High Schools, St Stithians, and The British International College. Average asking prices are around R3m-R8m with premium homes on large stands exceeding R20m. Sectional titles range from around R1.2m-R2.2m.

#2 Fourways – Favoured by families for the secure, country-style lifestyle it provides access to excellent schools such as Fourways High School, Crawford Lonehill, and Dainfern College. Top-tier amenities are also on hand including shopping, restaurants, golfing and other leisure activities. There are numerous estates and complexes. Freehold homes are priced from around R2.5m-R5.5m on average, but premium estates such as Dainfern Golf Estate, Fourways Gardens, and Cedar Lakes command higher prices, often upwards from R5m to about R65m at the top-end.

#3 The Parks (including Parkhurst, Parkview, and Parktown North) – Older, established suburbs with tree-lined streets and proximity to some of Johannesburg’s most prestigious schools such as St John’s, King Edward, and Parkview Senior, and UJ and Wits Universities. The village-like atmosphere, trendy restaurants, boutiques, art galleries, and proximity to major business hubs such as Rosebank and Sandton add to the popularity. Parkhurst is priced at around R2.8m-R5m on average. Parkview, often older “character” homes on large stands, at around R3.9m, and Parktown North with larger family homes at around R3.7m.

#4 Morningside – A more exclusive suburb close to the Sandton CBD, offering a prestigious choice for families and access to top-tier schools such as Redhill School and Crawford. The average price for a freestanding house is significantly higher, at around R4.2m to R12m. These properties are often larger and located in more exclusive areas.

#5 Lonehill – This suburb is highly regarded for its strong community, security initiatives and excellent access to schools such as Crawford Lonehill and Fourways High. It is dominated by clusters and sectional title homes with average prices ranging from around R2.5m to R6m.

Issued by Gina Meintjes