Bryanston, a suburb in northern Johannesburg, continues to be in demand among property buyers with many of its larger acre plots being subdivided into smaller stands of well-priced cluster homes.
Glenn Norton, a broker-owner of RE/MAX Masters, says the affluent suburb has some of SA’s most sought-after real estate.
“The area has become an extremely popular place in which to invest, with sectional title properties the number one choice,” says Norton.
While property used to consist of large plots and smallholdings, today the dynamic of the area has changed. According to
Donna Sipman, a property consultant at RE/MAX Masters who specialises in the Bryanston area, many of the larger plots are being subdivided and clusters offering a modern, luxurious lifestyle are being built.
“Bryanston is experiencing a shortage of inventory. Demand is strong, but there are not enough properties on the market to meet the need. As a result, many new sectional title developments have risen up and are selling at a rapid rate,” says Sipman.
Figures from Lightstone, a property data provider, reveal that 44.01% of Bryanston properties are sectional title units, 27.78% are estates and 28.21% freehold homes. “Lightstone figures also reveal that the average price for an entry-level sectional title unit in Bryanston is R1.349m,” says Sipman.
“These developments offer an attractive opportunity for property investors looking to build up their rental portfolios.
Many new sectional title developments are selling at a rapid rate. “Many of these sectional title units are also snapped up by first-time buyers who are drawn to the trendy location.”
Sipman says that in the year to date there have been 496 new registrations of sectional title homes to the value of R667m. “Comparatively, 174 estate homes and 155 freehold residences were registered.”
She says property prices in the area have performed well this year. “The average price tag for a freehold property in Bryanston is R4.7m, which is high for any suburb. This value peaks to the buyers’ demand —properties are often sold to a waitlisted buyer before hitting the market,” says Sipman.
Adrian Goslett, a regional director and CEO of RE/MAX of Southern Africa, says location is an important aspect to a property’s potential to gain in value over time. He adds that this is one of the reasons why property prices in Bryanston have continued to perform.
“The area appeals to many buyers due to its location close to excellent schools, shopping centres and amenities. It is also conveniently situated to the freeway and the financial hub of Sandton,” says Goslett
Sipman says that due to the area’s remarkable growth several shopping centres in the vicinity have been upgraded.
Most of the suburb will have fibre-optic links by the end of the year. Security-conscious buyers are also drawn to the enclosed streets and boomed areas.