RE/MAX Suburb Trend Report – Weltevreden Park

Area history

The Johannesburg suburb of Weltevreden Park, which means well satisfied, lies in the heart of Roodepoort. As one of the older suburbs in the north of Johannesburg, it is a well established neighbourhood that is popular among a range of people from young families, up and coming executives to retirees and those looking for community living that offers a relatively safe and tranquil lifestyle with facilities like communal parks.

Area property information

This is a fairly large suburb and property here is mainly in the form of complexes that have been created with attention to trees, gardens and a feeling of space and gated communities.

Lightstone data shows that more than 52% of property in Weltevreden Park is sectional title, with 44% of properties freehold homes.

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that this ideally situated suburb, which is proximate major highways and a range of amenities from hospitals and schools, to shops and entertainment hubs, is popular among a mixed group of buyers.

It is interesting to note that while 41% of existing owners are aged between 36 and 49 years old, 41% of recent sellers fall within the same age grouping, while more than 48% of recent buyers in the area have been aged between 18 and 35 years old.  More than 35% of owners in Weltevreden Park have lived in their homes for five years or less.

Property price trends

Demand for property

According to Goslett, the biggest property movement is occurring in security estates within Weltevreden Park “There is continuous demand and activity around homes priced within the R750 000 to R1,25million range, while activity around anything priced at the R2,5m mark is slow.”

Goslett points to the Lightstone data which shows that from July to September this year, 23 full title properties were registered for transfer priced between R800 000 and R1.5million. Sectional title units priced between R400 000 and R800 000 seem to be most popular, he says, with 55 transfers registered in the months from July to September this year.

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