Parkview remains one of Johannesburg’s signature suburbs

High demand, low property turnover and a desirable lifestyle have been the key driving forces behind Parkview’s consistent market buoyancy and stability, even in the immediate aftermath of the 2008 economic crash when property prices barely wavered.

SPACIOUS FAMILY HOME: This beautifully renovated four bedroom home is light and bright and features living areas which flow harmoniously out to the generous veranda. On the market for R6.5 million neg, it also has a guest cottage and three-car garage.

This is according to Sotheby’s International Realty Area Specialists Theodora and David Brickhill, who say: “The property market in Parkview has steadily increased by an average of 6.9% per annum since January 2009 when 53 homes were sold to a combined value of R143.96 million, at an average price of R2.716m.

“During 2015 there were 43 homes sold to the total value of R173.35m with an average price of R4.031m. The highest sale price last year was R6.5m and the lowest R2.4m.”

The Brickhills attribute this to the suburb’s long-standing reputation as a peaceful enclave offering a secure, upmarket lifestyle that has not only ensured Parkview remains one of Johannesburg’s most sought-after areas, but also that property prices have continued on an upward curve underpinned by the perpetual shortage of available stock.

Parkview is still dominated by single title properties and most of the original homes are more than 60 years old set on generous stands of around 1 000m², although there are a number on larger plots of up to 4 000m².

According to the Brickhills, the entry-level price for houses has risen to around is R3.3m for an older three bedroom property with two reception rooms, a garage and staff quarters.

“At the upper end of the market are homes that have been beautifully renovated with top-of-the-range finishes and great attention to detail. For around R6.9m one can buy a four bedroom, four bathroom family home with four reception rooms, a double garage, pool and spacious staff accommodation.”

Although there has no major shift in the overall property landscape in Parkview in recent years, there has been some development especially along Lower Park Drive overlooking Zoo Lake and on Parkview’s renowned golf course, which has introduced sectional title and cluster homes into the mix.

“These properties start at around R2m for a one bedroom, one bathroom flat and at R3m for a three bedroom, two bathroom cluster home,” say the Brickhills, “with the upper end of the market being around R7.2m for a spacious, modern three bedroom cluster home in a secure complex with its own garage, private garden, pool and staff quarters.”

Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty says: “One of the main reasons that property turnover in Parkview is so low is the fact that residents feel safe in the suburb. It has a village atmosphere of yesteryear, with locals still being able to safely walk to the shop and take their children to the park.

“This is largely due to the very pro-active Parkview Residents’ Association in conjunction with the SAPS and the PRA’s Safe Parkview security initiative, as well as the enthusiastic input of the local homeowners who all work together to keep the suburb as crime-free as possible.

“It’s therefore not surprising that when properties do come onto the market in this area, they sell very quickly and that prospective buyers are prepared to pay a premium to live here.”

Geffen adds that the same high demand is experienced in the rental market but, since around 90% of investors buy to live in the area, there is a dearth of available rental homes with agencies reporting long waiting lists.

Adding to the appealing tranquillity of the suburb is the fact that there is no commercial activity; only local convenience stores and myriad amenities for residents.

Say the Brickhills: “Parkview is an almost entirely self-contained suburb. It has a good retail mix as well as seven churches, a synagogue, nursery schools and five excellent local schools, including Parkview Primary and senior schools, Parktown Girls High and the private Jan Cilliers Primary School.

“There are also several outdoor recreational and sports facilities including a large, well-equipped park with swings, slides and an outdoor gymnasium, Zoo Lake, a gym, Parkview Golf Course, bowling greens, pilates studio, soccer fields and squash courts.”

The suburb’s convenient location in the heart of Johannesburg is another drawcard as Parkview is in close proximity to the University of Johannesburg, several other top schools in neighbouring suburbs, Rosebank Mall and the M1 highway which connects it to most major nodes.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 20 Mar 2018
      Located close to the fast growing Fourways precinct, Dainfern continues to attract local and international interest from buyers seeking a secure lifestyle with affordable entry price of approximately R3 million.
    • 20 Mar 2018
      Property owners in the Durban CBD are addressing the affordability challenge that faces many prospective tenants in their area – and reconfiguring the inner city rental market in the process.
    • 20 Mar 2018
      One of the most misunderstood concepts in the process of selling a property is an exclusive or sole mandate.
    • 19 Mar 2018
      If a landlord opts to use a managing agent for the rental of his or her property, the inspection process can be easier as the agent is not emotionally involved and will certainly have concluded an in-depth inspection report in the interests of all parties.
    • 19 Mar 2018
      We all wish we could have the cheat sheet for selling a property – a simple Ctrl+Shift+C code that will magically secure an offer on your home in an instant. Though it is not possible to provide you with this cheat code (sadly, reality does not come with such perks), it is possible to provide you with a list of the most common blunders some of your neighbours have committed in their efforts to sell their homes
    • 19 Mar 2018
      Although property technology is now widely accepted as an established trend, especially in the international real estate arena, the industry has been cautious to advance and smaller markets like South Africa are still hesitantly dipping their toes in the water.
    • 16 Mar 2018
      Strange as it may seem, there is a stock shortage looming now in the luxury sector of the Johannesburg property market, because astute buyers have for the past few months been hurrying to snap up high-end homes being offered at excellent prices.
    • 16 Mar 2018
      No one likes having to claim but having insurance for your household contents is vital, and at the start of a new financial year, homeowners either applying for new household insurance or revising their existing insurance should take a comprehensive inventory of their possessions and keep track of the total value.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us