Reports from estate agents working in many (possibly most) of the more popular residential suburbs of South Africa’s major urban areas indicate that stock shortages have now become a major challenge.
The Rawson Property Group’s
Northcliff franchise, which, since July 2010 has been owned and managed by Jan Oberholzer, confirms that stock shortages are also very much evident in their area and this, they confess, presents them with difficulties.
However, the franchise’s fast growth over the last four years, during which time they have seen property sales volumes increase by 25%, indicates just how buoyant the property market in Northcliff and its surrounding areas has become. Having started with only three agents, Oberholzer now employs ten on the sales side and eight on the rentals side and he is predicting further growth in the year ahead. At the Rawson Property Group’s recent bi-annual awards ceremony, the Northcliff franchise took several awards out of 66 franchises of the group’s northern region - which included fifth place for residential sales, and fourth place pertaining to rentals. The Northcliff franchise also took top honors in the commercial division, countrywide.
Petronella van der Merwe, the Rawson Northcliff Residential Sales Manager, says that Northcliff is seen as desirable and a good place to live for several very obvious reasons. Being only 15 km from Sandton via the ring road, 12 km from the CBD and approximately 10 km from the Johannesburg and Witwatersrand Universities, the area lays claim to being one of the most conveniently sited of all Johannesburg’s residential precincts. Then, too, says van der Merwe, with its Jacaranda lined streets, its attractive parks and its many view sights on the Northcliff koppie, Northcliff and its satellites are some of the most attractive of the Johannesburg suburbs. For many people moving here, she says, obtaining a good view either north to Tshwane or east to the CBD is high on their priority lists. On a clear day, those looking east can see planes landing at, and taking off from O R Tambo International Airport.
The area’s good schools, some established for well over 20 years, are also a major attraction. Northcliff Primary, Cliffview Primary, Laerskool Fairland, Northwest Christian School, Northcliff High, Abbotts College and other secondary educational institutions, says van der Merwe, have enabled Northcliff scholars to achieve good academic results.
The area, adds van der Merwe, remains popular also because it has such a wide range price and quality wise in property.
“We can provide sectional title units for as little as R650,000 but on the other side of the scale our luxury mountainside homes are priced up to R16 million. We also have large numbers of freestanding homes in the high demand price brackets, i.e. from R1,5 million to R2,5 million and R3 million to R5 million for freehold homes in gated estates.”
As in all high demand areas, says van Merwe, rentals have also taken off. The price range here is R7,000 to R12,000 per month and certain homes fetch up to R 50,000 per month. Cathy Smit, the Rentals Manager for this franchise reports that the bulk of the properties her team manage are in this price bracket, which by middle class standards remains ‘affordable’. Demand for properties renting at high levels is extremely good and her franchise manages 60 rentals per month in the R5,000 to R20,000 rental bracket. Smit and her team currently focus on corporate rentals in the area, due to the high demand for such.
Van der Merwe sums up a review of the area by affirming that, although stock shortages can necessitate a fairly long wait for properties in Northcliff, those thinking of moving here should persevere because, she predicts, prices will rise by some 5 to 7% in the year ahead and will continue to do so for several years to come.
