Demand and Property Prices on the Rise in Morningside

Strategically positioned in the northern suburbs, Morningside is regarded by many as one of the most desirable areas to live in Johannesburg and, with entry level free-standing house prices now nudging the R4 million mark, it offers investors an excellent opportunity to achieve significant capital growth on investment.

This triple storey architectural masterpiece boasts flowing reception rooms, a subterranean cocktail bar and cigar lounge, as well as a massive flow-through patio with wet bar. The home has 5 bedrooms, four garages, its own lift and double staff quarters, all set in Morningside’s most exclusive secure estate and is on the market for R34.5 million.
According to Wayne Brownhill, Area Specialist for Lew Geffen Sotheby’s International Realty, the single title homes that are still available for under R4m are usually old and often bought for the land. The houses are then demolished to make way for modern houses, which are generally worth at least three times the original price.
Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty attributes the increasing demand and subsequent rise in property prices to several key factors, including the dearth of available land for new development.
“The expansive family estates that once made up Morningside have all been subdivided and sold off as smaller erven or to developers for cluster homes, so there quite literally is no more space available.”
“One of the main reasons for the burgeoning demand,” says Geffen “is Morningside’s central location. Not only is it is conveniently tucked between Bryanston and Sandton, with Sandton City quite literally a stone’s throw away, it also lies along both sides of Rivonia Road, offering an easy commute to the nearby business centres.”
Geffen adds: “Another very attractive appeal factor is that, although Morningside has seen its fair share of residential development, it has remained relatively quiet and low key compared to its neighbours which are home to thriving commercial nodes, and this is attracts many young families to the area.”
Says Brownhill: “Currently the most popular segment of free-standing house the market is the R6m to R10m price band, with the upper end of the market flagging slightly in the face of the increase in transfer duties which can see Investors now forking out in excess of R1m just on transfer costs.”

This French-style house with three en-suite bedrooms is located in a gated cul-de-sac, giving all the benefits of safe cluster living without actually living in a crowded cluster development. The property also boasts a separate study, 1000 sqm of manicured gardens and a separate flatlet and is on the market for R7 million. 

That said, according to Brownhill, the high end of the market in Morningside hasn’t stagnated and there have been several recent sales which have nudged the suburb into trophy home status.
“The past two years have seen two properties change hands for around R25m and, at the Clouds End Estate, where we currently have a 1 200m² home available for R34m, a house was recently sold for R40m.”
According to Brownhill, young upwardly mobile families with school-going children make up the majority of buyers in the low-to-mid market as Morningside’s central location also offers easy access to many good schools in the area.
“The upper end of the market attracts many prominent captains of industry, and we have seen considerable interest from buyers from others African countries in recent years, particularly from Kenya, Nigeria, Ghana, Angola and Botswana. And, as there are two Shuls and a Mosque in the area, we also have a strong Jewish and Muslim base of potential purchasers.”
According to Brownhill, the residential property market in Morningside weathered the 2008 credit crisis better than many areas with the prices remaining static rather than dropping, and it has recovered extremely well, with prices reaching record highs in the past two years.
Says Brownhill: “With demand now outstripping supply, a correctly priced house can sell within a matter of days. However agents still exercise caution when valuing homes as they can sit on the market for up to a year if incorrectly priced for the current market conditions.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us