Sunny outlook for residential market in Sunninghill

The vibrant northern suburb of Sunninghill in Johannesburg is becoming increasingly popular with young professionals as it not only offers a wide property choice from affordable starter apartments to upmarket family homes, but also easy access to all the major commercial areas.

JEWEL IN THE CROWN: This beautifully renovated original farmstead in Sunninghill is set on 8 400m² of indigenous grounds. On the market for R20 million, it boasts a three en suite bedroom main house with private cinema and library, a two bedroom cottage, staff accommodation, African boma and burbling streams.

According to Jade Bradnick, Area Specialist for Lew Geffen Sotheby’s International Realty, first time investors can get their foot in the market from as little as R550 000, with prices ranging all the way up to around R4.5 million for a spacious modern cluster or one of the few remaining freehold houses.

“Depending on size, condition and location of the complex, sectional title properties range up to about R1.8 m for a three bedroom unit at the top end of the market with clusters and houses realising between R3m and R4.5m in the upper market segments.

“The most active price band is the lower to mid-market segment with properties under R2.5m being most in demand.”

Bradnick says that the majority of new investors are first time buyers as well as young families, but that Sunninghill also has an active market of buyers who are already residents but are looking to upgrade or down scale as many will not consider leaving the area.

However, this affordable gem in the heart of the affluent Northern Suburbs does have a crown jewel, which has just become its once-in-a-lifetime investment.

“The stunningly renovated original area farmhouse has just come onto the market and is set on around 8 400m² of landscaped indigenous grounds with a gracious three bedroom main house and separate two bedroom cottage. With its own library and cinema and generous entertainment areas, this unique property is truly a haven amidst urban densification.”

According to Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty, the market in Sunninghill has improved significantly since the last credit crunch in 2008, experiencing a high turnover of properties as well as offering a high return on investment.

“Accessible markets with a varied property selection like Sunninghill which have enjoyed a continued growth in demand are likely to weather the current economic slump better than most areas and we have already started to see the pattern for 2016.

“Certain investors who are worried about where the economy is going are looking to sell off additional properties to free up cash whilst other investors believe property to be the safest investment in the current and are choosing to bite the bullet for the security of owning an asset.”

This is supported by Bradnick’s recent comparison between the number of show houses in Sunninghill and its neighbouring suburbs.

“On average, there are between 15 and 25 show houses every weekend in Sunninghill, while in surrounding areas, there are at most between 10 and 15.”

Another factor that is driving the market is the adjacent Waterfall development which is currently under construction.

Bradnick says that not only will Sunninghill residents have easy access to one of the largest malls in Africa, but demand will surge as many employees will not be able to afford to buy property in the high end residential areas surrounding the development.

“This will also drive the investment market even further as the demand for rental property will increase.”

This market is already very active as Sunninghill also has a substantial commercial component and is home to large companies such as Acer, Eskom, Price Waterhouse Coopers, RCI and Unisys, many of which regularly bring in staff from other areas in South Africa as well as from abroad.

According to Bradnick, the successful co-existence of the residential and commercial sectors in Sunninghill offers many residents the benefit and convenience of working very close to home, which is rare in Johannesburg where traffic congestion and long commuting hours are the order of the day for most people.

However, the suburb’s location also offers easy access to the M!, M3 and R101 freeways, which link them directly to the city centre, Sandton and Midrand.

Young families are also drawn to the suburb because there are many preschools in the area as well as a nearby primary and high school. Sunninghill is also within the catchment area for Rivonia Primary School.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 25 May 2018
      Reliable public transport systems moving a mass of commuters to and from work, keep a city’s economy moving. Not only do they have a positive impact on economic growth, successful rail links also influence property values.
    • 25 May 2018
      The live, play and visit environment that Centurion Residential Estate & Country Club offers continues to attract buyers looking for a very specific lifestyle and ambiance.
    • 25 May 2018
      As expected, the Monetary Policy Committee kept the repo rate stable, with analysts and market commentators ahead of yesterday's announcement (24 May 2018) pointing to a more hawkish stance amid a weaker rand, somewhat less stable global environment, and an eye on the inflation outlook – coupled with the increase in VAT and sizeable hike in the price of fue
    • 24 May 2018
      Most real estate professionals agree that 2017 was one the toughest years to date; an eminently challenging 12 months that subdued even the strongest markets - including the country’s economic powerhouse of Sandton.
    • 24 May 2018
      These are uncertain and challenging times for the real estate industry, but the non-profit organisation Rebosa is fighting for their interests and finding pragmatic solutions to industry issues such as the urgent need to fast-track transformation says Richard Gray, Rebosa chairman.
    • 24 May 2018
      The decision to invest in property isn’t one that’s taken lightly, or dealt with flippantly. The same should ring true when deciding on an estate agent partner to handle the letting out of your property.
    • 23 May 2018
      Homeowners who are thinking of selling and “trading up” to a bigger or a better home had better be quick now if they want to get the best deal.
    • 23 May 2018
      The new Loftus Park development in Arcadia is really going to boost the demand for homes and rental accommodation close by and the neighbouring suburb of Sunnyside, says Gerhard Kotzé, MD of estate agency group RealNet Holdings.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us