select
|

The changing face of Rivonia

Rivonia is one of a handful of suburbs in South Africa which has proven largely resilient in the face of economic downturns and able to weather the storm with quiet and consistent endurance, largely because when people move into the area they tend to stay.


A SLICE OF OLD RIVONIA: A spacious three bedroom family home with a natural pool, pond, indigenous garden and double staff quarters.  Nestled amongst wild trees and overlooking a river this secure family home is on the market for R4.5 million
 
This is according to Di Jessiman, Area Specialist for Lew Geffen Sotheby’s International Realty, who says: “Even during the 2008 credit crunch, the market here didn’t stagnate or backslide and we still saw growth in property values, albeit at a lower margin.”
 
Citing Deeds Office records, Jessiman notes: “In 2009 the average house price in the extensions was around R2 million and up to R4.9m in Rivonia and Edenberg and, by the time most other markets started to recover in 2011, the median sale price in the extensions had risen by around 9% while Rivonia/Edenberg area achieved two record sales on large properties with business rights.”
 
Jessiman says that one of the main reasons that the market ticked along steadily over the years is the consistent but relatively low property turnover.
 
“Buyers have always regarded property in Rivonia as a long term investment and a desirable place to live and raise their families, with residents seldom moving out of the area when the time has come to upgrade or downscale.”
 
However, although its appeal hasn’t waned, Rivonia has transformed dramatically in recent years, and is no longer primarily a residential suburb known for its tranquil, countrified ambience and stately homes on generous erven.
 
Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty says: “As one of Johannesburg’s oldest suburbs, Rivonia has experienced several incarnations over the decades, from rural farmland to an exclusive equestrian residential area of smallholdings and, by the 1980s, it had become an exclusive suburban enclave.
 
“However, the turn of the century Rivonia saw the dawning of a new incarnation with the gradual introduction of a vibrant commercial component, the growth of which precipitated a dramatic change in the property landscape of this sought-after suburb.”
 
Geffen says that this transformation was inevitable given Rivonia’s central location in Johannesburg’s desirable north and its proximity to Sandton, and by 2007 the commercial market in the area was becoming very active.
 
“Suddenly existing office buildings in and around the Rivonia Boulevard were being sold and refurbished, with several new upmarket commercial developments being planned.
 
“The knock-on effect was a corresponding increase in demand for residential property in the area, with densification forever changing the face of Rivonia.”
 
Now regarded as one of the most popular and eclectic residential and business nodes in Johannesburg, the sought-after suburb no longer comprises only large freehold properties in quiet, leafy lanes but is also home to a fast-growing number of upmarket sectional title and cluster developments, as well as thriving commercial areas.
 
“Sectional title developments are now mushrooming and Rivonia’s trademark acre stands are slowly making way for townhouse and cluster developments,” says Jessiman.
 
These new residential developments have also boosted the rental market significantly, thereby attracting an increasing number of investment buyers seeking good rental returns and a solid return on investment.
 
The surge in demand for residential property and rapid growth of the suburb have also galvanised the once consistently steady sales market and 2015 saw a significant jump in property values, with average house prices in some areas increasing by as much as 30% in a year.
 
According to Jessiman, the commercial growth and densification in Rivonia have also impacted the investor demographic and traditional buying patterns.
 
“With accessible sectional title entry prices of around R1m, Rivonia is no longer the exclusive domain of the wealthy and many of the new buyers are now young professionals and families with small children who move to be in the Rivonia Primary School’s catchment area.”
 
Jessiman concludes: “While the character of Rivonia may have done a complete 360 over the past decade, one thing that hasn’t changed is its desirability and appeal, and with top class amenities on residents’ doorsteps as well as easy access to main thoroughfares and the Gautrain, investors will continue to flock to the area.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
    • 15 Jan 2018
      The Atlantic Seaboard’s housing market has stoically withstood the brunt of the growing economic and political instability, consistently achieving double digit growth way above the national average, however, in 2017 South Africa’s most resilient market finally began to yield to the pressure.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK