Young professionals drawn to cosmopolitan, trendy Johannesburg homes

Johannesburg, 29 May 2018 – With such a variety of so many homes to choose from, many young professionals in Johannesburg north prefer to buy in the suburbs of Paulshof and Sunninghill.

Both suburbs are centrally located close to major roads and highways, with amenities including places of worship, shopping centres and easily accessible to areas such as Bryanston, Fourways, Midrand and Sandton.

“A high percentage of young professionals love these suburbs as they have a trendy vibe, are self-contained and secure. “Over the years, Sunninghill has become cosmopolitan thus adding to its appeal to buyers,” according to Pam Golding Properties area specialists Aneshka Landman and Jean Bekink.

Sandra Gordon, Pam Golding Properties research and market analyst says it is no surprise that Paulshof and Sunnnighill are preferred home locations for many young professionals. Gauteng emerged as the province with the highest number of first-time buyers thanks to its affordability compared to the Western Cape in particular, according to Lightstone.

“Demand from buyers, the ability of these buyers to afford properties being sold and available stock are three key factors that drive any housing market. “As market sentiment improves and buyer confidence rebounds, we are going to see areas such as these among others in Gauteng continue to see buyers coming onto the market – with those buying for the first-time and others upscaling to bigger properties,” says Gordon.

Paulshof

Paulshof appeals to first-time buyers, with a massive 53% of recent buyers under the age of 35 years and 47% of stable homeowners being middle-aged (36-49 years) – suggesting young professionals and first-time buyers, according to Lightstone. Data also shows that in 2017, Paulshof recorded a median price of R2.36 million for a freehold home and R1.075 million for sectional title units.

“Entry level homes are priced from R1.5 million for a three bedroom, two bathroom freestanding sectional title home with R4 million being the highest achieved price in the area over the past two years.”

Landman and Bekink say there are new sectional title developments such as The Quails, Bacara and Greenwich Village which attract mostly first-time buyers and those looking for a lock-up-and-go lifestyle. Homes in these developments are affordably priced starting from under R1 million for one bedroom units at The Quails and Greenwich Village. Paulshof is home to Rietfontein Nature Reserve, the popular German Country Club and luxury car dealership, Porsche.

Sunninghill

“Although slightly higher priced than Paulshof, Sunninghill is also accessible with prices starting from R1.8 million for a freestanding sectional title home with three bedrooms and two bathrooms, with R5 million being the highest price achieved for a home over the past two years.”

In 2017, the median home price for a freehold home in Sunninghill was R2.2 million and R980 000 for a sectional title unit. Of the 234 apartments which were sold in 2017, 65% fell within the R800 000 – R1.5 million price category and sold at an average price of R1.055 million, according to Lightstone data.

Furthermore, 49% of recent buyers in Sunninghill were aged between 18-35 years, suggesting that the area is popular with first-time buyers – particularly given the relative affordability of property prices in the suburb.

“There has been a number of new young buyers looking to buy property with some eyeing the sought after Sunninghill Gardens because of its good security. “Here, the average price of a three bedroom, two bathroom home is between R3 million and R3.5 million with renovated homes costing a bit more,” they say.

New sectional title developments such as The Edge located on the border of Sunninghill and Barbeque Downs offer modern and spacious executive apartments with three bedroom units priced below R1.3 million. Laguna, which is almost sold out, offers one bedroom units selling for R799 000 and three bedroom units priced at R1.289 million. As in Paulshof, these attract buyers looking for a secure lock-up-and-go lifestyle.

Sunninghill is home to Netcare Sunninghill Hospital as well as a number of businesses such as Eskom head office.

Apart from young professionals, the agents say buyers in the suburbs include young families and retirees as these areas offer both convenient, hassle-free sectional title living and more spacious full title homes. Good schools in the area include Junior College Sunninghill St Peter’s College, Sunninghill Park Nursery School and Rivonia Primary School, while shopping centres such as the recently revamped Cambridge Crossing Shopping Centre, Chilli Lane Shopping Centre and Sunninghill Village are right on their doorstep.

“Affordable prices compared to other suburbs within the Sandton region, security and central location will continue to attract young professionals to Paulshof and Sunninghill,” they add.