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.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
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?
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us