Underpinned by a strategic location and rampant commercial development in recent years, Midrand’s burgeoning residential property landscape offers a broad spectrum of properties and excellent value, especially in the estate sector which is attracting considerable investor interest.
“Despite the economic slump, there’s has been a surge in activity across the board, but most notably in the secure estate sector where we’re seeing the newer estates becoming more established with their growing popularity spurring a proliferation of amenities in the area,” says Grahame Diedericks, Manager Principal for Lew Geffen Sotheby’s International Realty in Midrand.
He adds that the ongoing development of office parks and retail centres and the migration of company headquarters to the area is drawing many new residents from Johannesburg North and South and from Pretoria, many of whom are seeking the security and lifestyle offered by residential estates.
“Over and above the desire to live near the workplace; one of the biggest drawcards is the fact that buyers can get more bang for their buck in many estates in Midrand and Centurion than similar comparable estates in some of Johannesburg’s more established northern suburbs.
“This is especially true of estates like Kyalami, Carlswald, Summerset and Blue Valley which all offer exceptional lifestyles and beautiful homes but at more accessible prices as well as a solid return on investment”
“Boasting sixteen parks, five dams, a squash court, a tennis court, a clubhouse and a sports centre with various facilities, Kyalami combines all the benefits of urban convenience with the tranquillity and open space of a rural environment.
“There are also numerous well-maintained children’s play areas, forest walks, gazebos and braai areas which allow residents to safely enjoy the great outdoors.
“Property prices range from an accessible R3.1 million for a modern three-bedroom family home to around R13m for an expansive designer home with all the bells and whistles.”
This year, the median house price rose by 7.6% from R3.9 million in 2021 to R4.2m, beating the previous record high of R4m in 2019 and 65 registration in 2021 topped the previous high of 82 registrations in 2013.
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“This is very much a family estate which is borne out by Lightstone data which shows that 61% of recent buyers during the past year were aged between 36 and 49 and 27% of buyers were under the age of 35.
“Offering a host of world-class amenities such as a championship golf course, a 2000m² clubhouse, various sporting amenities and a fitness centre, Blue Valley has become one of the most prestigious estates in Gauteng, but with house prices starting at around R4.2m, this exclusive lifestyle is much more accessible.
“There are also stunning designer homes priced between R10m and R19 which boast top-of-the-range fittings and finishes and up to seven bedrooms.
“And, for those entering the market for the first time, sectional title units are available from just R600 000.”
Property values have shown considerable growth on this estate, with the freehold median price almost doubling in the past four years, from R2m in 2018, to R3.6m in June this year.
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“Carlswald offers the quintessential country life, yet is only minutes away from modern urban amenities.
“A gradual northern slope allows for unobstructed 360-degree views and, with an emphasis on respecting indigenous flaunt and flora of the region, many of the trees in the area are over 100 years old and the wetlands attract over two hundred species of bird life.
“There is also an extensive natural parkland and a 3.5km internal running trail as well as amenities such as a gym, pool and lifestyle centre.”
Catering for all budgets, first-time buyers can purchase a three-bedroom house from around R2.3m and more established investors can acquire expansive four and five-bedroom homes for between R5.5m and R8m.
This year, the median house price increased by 13.98% from R4.65m in 2021, reaching a record high of R5.3m.
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“This is a community-oriented estate which offers an array of amenities for residents to enjoy together, including a gym, squash and tennis courts, cricket nets, a soccer/ ball sport lawn, jungle gym, and play area, jogging and walking paths, duck-filled ponds and a lovely rock swimming pool.
“Buyers seeking lock-up-and-go convenience can buy a modern one-or two-bedroom flat for between R830 000 and R1.2m and house prices generally range between R3.5m and R6m for very spacious three-to five-bedroom family homes with sizeable gardens.”
Also, very much a family estate, 70% of recent buyers were aged between 36 and 49 and 22% were 35 or younger and in 2021, the median house price here reached a record high of R3.625m.
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“With generous homes on larger than usual stands, this estate offers especially good value for money compared to similar estates elsewhere.
“From around R2.8m, you can buy a four-bedroom double-storey home with servant’s quarters, R3.5m will buy you a beautiful five-bedroom family home and R5.5m buys an expansive designer house with all the trimmings.
“At the entry-level, two-bedroom townhouses and apartments start at around R1m, with larger, more luxurious townhouses reaching around R3.8m”
Despite the disruption of the pandemic, median house prices have risen steadily since 2020, increasing from R4.3m to R4.875m in 2021 and again this year, reaching R5.05m by June.
And with a slightly more mature buyer demographic, 90% of the stable owners are aged between 36 and 64 as are 84% of recent buyers.
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According to Diedericks, the value for money that these estates offer also makes these homes excellent investment properties, and the rental markets on these estates are very active with landlords mostly enjoying full occupancy.
“Many businesses have relocated to Midrand due to its excellent highway links and its central location in the economic hub of Gauteng and it is also home to large-scale industries such as textiles and motor vehicles.
“And, with both demand and listings on the increase as more as more and more people seek the convenience of living close to work, there is no doubt that property in Midrand and neighbouring Centurion offer fantastic investment growth potential.”