Hyde Park - Property buyers’ first choice for luxury homes

Area history

In the midst of Johannesburg’s northern suburbs is the affluent suburb of Hyde Park. Named after the prestigious London area of Hyde Park, the suburb is one of Johannesburg’s most sought after addresses. Ideally situated close to Jan Smuts Avenue, the area’s position allows for easy access to the financial hub of the Sandton business district, along with other hubs and amenities such as Rosebank, Melrose Arch and of course Hyde Park Shopping Centre, which has a variety of specialty shops and boutiques.

?4 Bedroom House for sale in Hyde Park

While it is situated in the heart of the northern suburb’s hustle and bustle, Hyde Park has managed to maintain a tranquil setting. This, along with the many large, luxurious properties on offer, has drawn many property buyers to the area. 

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that property in Hyde Park consists of 53.77% sectional title units, 27.18% freestanding homes and 19.04% estates. According to Lightstone data, the average price of a freestanding home saw significant growth between 2004 and 2007, dipping slightly in 2008. Goslett says that the price saw another upward trend from 2009, peaking in 2010 at a record high of R9.219 million. Since 2010, the average price of a freestanding home has seen a year-on-year decline and is currently at around R5.517 million. Sectional title unit prices experienced excellent growth between 2004 and 2008, with the average price more than doubling during that period. However, Goslett notes that from 2009 the price stabilised and has remained fairly flat ever since.

?2 Bedroom Apartment for sale in Hyde Park

In terms of property sales in the area, Goslett says that although the numbers of transactions were marginally higher during the boom period, the volumes of sales have remained fairly high. He notes that on average over 90 properties are sold in the area each year. The highest percentage of recent buyers are those between the ages of 36 and 49. This demographic of consumer represents 34% of recent buyers in the area, followed by those between 18 and 35 years old who account for 28%. The largest group of recent sellers are consumers over the age of 65 years old (36.92%). This age group also represents the largest group of existing homeowners in the area (31.81%).

Property price trends

Demand for property

According to Goslett, the highest demand in the area has been for properties priced over R3 million. These homes represented 44% of properties sold in Hyde Park during 2013. He notes that 37% of the properties sold last year were priced between R1.5 million and R3 million, while 16% of properties sold during this period were priced between R800 000 and R1.5 million. The remaining 3% were properties sold between R400 000 and R800 000.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Mar 2018
      The 1% VAT increase which is set to take effect as of 1 April 2018 has set the country alight with many burning questions, most of which cannot be comprehensively answered by our knowledgeable friend Google.
    • 22 Mar 2018
      The picturesque and oft-misty town of Dullstroom in Mpumalanga belies its name. Judging by the rapidly increasing influx of weekend visitors, many of whom then look to acquire property here, it’s anything but dull, quips Anton Greeff, Pam Golding Properties area principal.
    • 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.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us