select
|

The appeal of living in the ‘village’ of Parkview

A strong focus on safety and security is paying off for homeowners in the plush Johannesburg suburb of Parkview, where property prices have exhibited extraordinary resilience over the past few years. The recession in 2009 saw prices plummet in many upmarket suburbs as the oversupply of properties for sale grew, but in Parkview, according to Sotheby’s International Realty area specialists Theodora and David Brickhill, “the demand hardly wavered and prices were underpinned by the usual shortage of supply, thanks to the area’s reputation as a very safe enclave offering a peaceful, unstressed lifestyle”.

Most of the original homes in Parkview are more than 60 years old and are set on stands of around 1000sq, although there are a few with larger grounds of 2000sqm and even 4000sqm. Current prices range from around R1,9m for an “untouched oldie” to about R5,6m for a renovated and modernised home. There has also been some new residential development along Lower Park Drive overlooking Zoo Lake and on Parkview’s renowned golf course, and the area is thus also able to offer modern lofts, clusters and estate homes at prices from around R2,5m up to about R6,5m. However, the Brickhills note, there are generally very few homes available to purchase in Parkview as those who do acquire a home there tend not to leave very easily.

“One reason for this lack of turnover is Parkview’s very central location in the heart of Johannesburg and thus its proximity to many sought-after schools such as Parkview Junior and Senior Primary, Jan Celliers, Japari, The Ridge, St Katharine’s, Auckland Park Prep, Parktown Girls’ High, Roedean, Kingsmead, King Edwards, St John’s and the German School.    “This has induced many owners to spend large sums on the renovation of Parkview properties to make them ‘forever homes’ that are beloved family residences so that their children can attend these schools.” But another very important reason for residents to stay put is that they feel safe in Parkview.
 
“The suburb has a distinctly village atmosphere with residents being able to walk their dogs after work, take their children to the park or simply enjoy meeting with friends at the local shopping centre.  “This is largely due to the efforts of our very active Parkview Residents’ Association in conjunction with the SAPS and the PRA’s Safe Parkview proactive security initiative, as well as the willingness of most local homeowners to contribute and co-operate in keeping the area as crime-free as possible.

“And their participation certainly pays off in terms of keeping up the value of their assets. Home prices in Parkview are supported by the perennial desirability of the suburb, which means that growth here as the market recovers will start off a higher base than in many other heritage suburbs.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
        
    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