Vil­lage at­mos­phere in Jo­han­nes­burg

Business Day - Home Front - - HOMEFRONT -

AS­TRONG fo­cus on safety and se­cu­rity is pay­ing off for home­own­ers in the plush Jo­han­nes­burg sub­urb of Parkview, where prop­erty prices have ex­hib­ited ex­tra­or­di­nary re­silience over the past few years.

The re­ces­sion in 2009 saw prices plum­met in many up­mar­ket sub­urbs as the over­sup­ply of prop­er­ties for sale grew, but in Parkview, ac­cord­ing to Lew Gef­fen Sotheby’s In­ter­na­tional Realty area spe­cial­ists Theodora and David Brick­hill, the de­mand hardly wa­vered and prices were un­der­pinned by the usual short­age of sup­ply, thanks to the area’s rep­u­ta­tion as a safe en­clave of­fer­ing a peace­ful, un­stressed life­style.

Light­stone area data re­veals that 42% of own­ers in the area have lived there for more than 11 years. The data also in­di­cates that 62,96% of re­cent buy­ers are aged be­tween 36 and 49 years.

Most of the orig­i­nal homes in Parkview are more than 60 years old and are set on stands of around 1 000m², al­though there are a few with larger grounds of 2 000m² and even 4 000m². Prices range from R1,9m for an “un­touched oldie” to about R5,6m for a ren­o­vated and mod­ernised home.

There has also been some new res­i­den­tial de­vel­op­ment along Lower Park Drive over­look­ing Zoo Lake and on Parkview’s renowned golf course, and the area is thus also able to of­fer mod­ern lofts, clus­ters and es­tate homes at prices from around R2,5m up to about R6,5m.

How­ever, the Brick­hills note that there are gen­er­ally very few homes avail­able to pur­chase in Parkview as those who do ac­quire a home there tend not to leave very eas­ily. “One rea­son for this lack of turnover is Parkview’s very cen­tral lo­ca­tion in the heart of Jo­han­nes­burg and its prox­im­ity to many sought-af­ter schools such as Parkview Ju­nior and Se­nior Pri- mary, Jan Cel­liers, Ja­pari, The Ridge, St Katharine’s, Auck­land Park Prep, Park­town Girls’ High, Roedean, Kingsmead, King Ed­wards, St John’s and the Ger­man School.

“This has in­duced many own­ers to spend large sums on the ren­o­va­tion of Parkview prop­er­ties to make them “for­ever homes” that are beloved fam­ily res­i­dences so that their chil­dren can at­tend these schools.”

But an­other very im­por­tant rea­son for res­i­dents to stay put is that they feel safe in Parkview. “The sub­urb has a dis­tinctly vil­lage at­mos­phere with res­i­dents be­ing able to walk their dogs af­ter work, take their chil­dren to the park or en­joy meet­ing with friends at the lo­cal shop­ping cen­tre. This is largely due to the ef­forts of ac­tive Parkview Res­i­dents’ As­so­ci­a­tion in con­junc­tion with the SAPS and the PRA’s Safe Parkview proac­tive se­cu­rity ini­tia­tive, and the will­ing­ness of most lo­cal home­own­ers to con­trib­ute and co-op­er­ate in keep­ing the area as crime-free as pos­si­ble. Their par­tic­i­pa­tion cer­tainly pays off in terms of keep­ing up the value of their as­sets.”

Knowl­edge Fac­tory’s SAPTG sta­tis­tics in­di­cate that de­spite cur­rent de­pressed mar­ket con­di­tions that are gen­er­ally be­ing ex­pe­ri­enced the coun­try over, Parkview has seen an im­pres­sive cap­i­tal growth on full-ti­tle prop­erty, way above the na­tional av­er­age. The one-year ap­pre­ci­a­tion trend stands at an im­pres­sive 15,09%, while the three-year trend re­flects a growth of 9,08% with the fiveyear ap­pre­ci­a­tion at 9,93%.

Knowl­edge Fac­tory’s SAPT also shows that the av­er­age price of a full-ti­tle home in the area for the 2010/11 pe­riod is R2,982m. Con­tact: Lew Gef­fen Sotheby’s In­ter­na­tional Realty David and Theodora Brick­hill 011 788 7048

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