There’s good news for the new generation of Bryanston homeowners who have moved into the area over the past few years in order to live closer to it’s many new offices and retail venues.
Stalled development and a growing trend among older homeowners to downsize are underpinning the value of their cluster homes.
Says Luciana Struthers, area specialist for Chas Everitt International: “Bryanston still boasts many generously proportioned homes set in rolling grounds. But over the past few years, many have also been demolished to make way for smaller, more modern homes in upmarket complexes or cluster villages in the wake of extensive commercial development in the area.
“These builds brought in a whole new generation of buyers who appreciate the enhanced safety of gated developments, easy access to places of work and convenience as well as the cachet of a Bryanston address – and whose homes are retaining their value even now.”
Currently, freehold cluster homes are priced from around R3,5m and sectional title units start from about R1,5m, with a significant development slowdown in the area helping to support prices.
Overall demand has fallen, says Struthers, due to higher interest rates and the credit crunch, and stock levels have risen due to load-shedding, emigration and the financial pressure on owners.
“But power supply problems in Bryanston mean that at least there are very few new units being brought on to the market, as developers cannot go ahead without electricity. And at the same time many older residents are looking to downsize to a townhouse or a cluster without leaving the area.
“The result is that those who bought into the area in recent times are not about to see the value of their investment dramatically eroded.”