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RE/MAX Suburb Trend Report – Jukskei Park

Area history

Neighbouring the suburbs of Olivedale and Douglasdale, the leafy modern suburb of Jukskei Park is located in the north of Johannesburg. As the dale reference in the names of the surrounding suburbs suggests, much of the area initially started as farmland and was later subdivided and developed. Today, Jukskei Park is an upper-middle class suburb that is predominantly characterised by its modern townhouses and older, large freestanding properties.


3 Bedroom House for sale in Jukskei Park, Randburg

Situated close to the N1, which runs a ring around Johannesburg, Jukskei Park enjoys easy access to all of the city’s attractions, shopping facilities and financial hubs. The suburb borders the Dome, Northgate, Fourways, Montecasino and is relatively close to Africa’s richest square mile – Sandton.

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that the suburb of Jukskei Park has become highly sought after among consumers between the ages of 18 and 35 years old, who account for 54.1% of the recent buyers in the area. He notes this is largely due to the suburbs’ ideal positioning and access to major transport routes. Goslett says that while the younger generation buyers are currently driving the property market in Jukskei Park, the largest percentage of current homeowners in the area are those aged between 36 and 49 years old. He adds that this age group also represents the highest percentage of sellers in the area.

Data from Lightstone reveals that between 2004 and 2008 property prices in Jukskei Park saw exponential growth, tapering off slightly during 2009. However, in 2010 prices once again gained momentum and have seen a steady upward trend with current prices higher than they have ever been. Currently the average price for a freestanding property is around R1.686 million, while the average price of a sectional title property is in the region of R696 000.

According to Goslett, property sales in the area peaked during 2004 with sales volumes declining until 2009. He notes that from 2010 property sales volumes began to increase, and while they are not currently back at boom levels, they have continued to show marginal improvement year-on-year.
 
Property price trends



Demand for property


Goslett says that around 43.7% of properties sold in Jukskei Park between July 2013 and June 2014 were priced between R1.5 million and R3 million, making this the most sought-after price range in the area. Around 27.7% of homes sold during this period were priced between R400 000 and R800 000, while those priced within the R800 000 to R1.5 million price bracket accounted for 26.1% of sales. Homes priced below R400 000 represented a 2.5% share of the market.


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