RE/MAX Suburb Trend Report – Bryanston

Area history

First named as an area in 1949, the upper class, affluent suburb of Bryanston is home to some of South Africa’s most sought-after real estate, says Adrian Goslett, CEO of RE/MAX of Southern Africa.

He says that more and more investors are moving into the Bryanston area because of its proximity to the Sandton CBD. The area was established as a suburb of Sandton in 1969 and while property used to consist of large plots and smallholdings, today the area is divided equally among security estates, free-standing homes and sectional title units.

Area property information

According to Lightstone, a property statistics and information provider, the average price of property in Bryanston grew steadily from 2004 until 2008, with the average price of a free-standing home at around R3, 449 million and a sectional-title home costing approximately R935 000. Prices remained fairly stagnant from 2008 until the beginning of 2011, where they once again began to progressively increase. Currently the average price of a free-standing home is around the R3, 745 million mark while sectional-title units are in the region of R1, 089 million. Bryanston is ranked 70th among suburbs countrywide for free-standing homes and 79th for sectional-title homes based on average property valuations.

“Despite the fact that in general the South African property market has been under pressure since the recession period, Bryanston and other areas surrounding the Sandton CBD have not been as affected. There have not been the same figures of price growth as seen during the boom period, but prices have gradually begun to rise again,” says Goslett.

He adds that on average, the sales prices that are being achieved are between the R1,5 million and R2 million mark. However, there have been a few sales that were concluded in the R6 million and R7 million brackets. According to Lightstone, numbers suggest that since 2004 free-standing properties outsold the number of sectional-title properties sold in the area. However, it seems that buying patterns have begun to change in the area and currently there is an equal number of freehold and sectional title sales that have recently been concluded. Goslett says that the uptick in sectional title sales is due to a number of reasons such as their lock-up-and-go features, perceived security offerings and the fact that they offer investors good buy-to-let potential.

He notes that the average age of homeowners in Bryanston seem to be getting younger as 40.86% of recent buyers in area were between the ages of 18 and 35 years old and 35.4% were between the ages of 36 and 49 years old. This is compared to majority of recent sellers in the area being between the age of 50 years old and above. Although many of the homeowners are well established in the area, 38.23% have lived in their home for less than five years.

Property price trends

Demand for property

“Many buyers are looking to purchase in areas that are close to the centre of the financial sector in Johannesburg. Suburbs such as Bryanston that are in the surrounding proximity of the Sandton hub attract a vast number of investors looking to live near to where the work,” says Goslett. “Another reason that buyers are attracted to the area is that due to its prime location and excellent amenities, property in the area has maintained its value and is sure to offer a good return on investment. The property market in Bryanston is generally very stable, which is also what has attracted many investors. Bryanston is an excellent choice for astute property investors looking for an upmarket lifestyle,” Goslett concludes.

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