Despite the lackluster performance of Gauteng’s market with property growth inflation currently under 1%, Bryanston heads South Africa’s Top 5 suburbs list in both sales and total purchase price.
According to Lightstone, Bryanston was the top-selling suburb in the country last year in terms of sales volume and total purchase price achieved, with Sea Point in the Western Cape second and Midstream Estate in Gauteng in third place.
“Our Year-To-Date sales in Bryanston recorded in February were up by an average of 5% which is notably higher than the Year-on-Year national property inflation of 2.41% in January and way higher than Gauteng’s price inflation of 0.39% for the same period,” says Cobus Odendaal, CEO of Lew Geffen Sotheby’s International Realty in Johannesburg and Randburg.
This is corroborated by Lightstone data which shows that the median house price in Bryanston has risen above R4 million for the first time since 2018 with the number of registrations also spiking.
“The current median house price of R4.3m is nudging the 2018 median price of R4.4m and, after a record low of 305, 2022 saw a record number of house registrations (608) and last year there were 438, the second highest number of registrations since 2016.”
He adds that other suburbs which have shown encouraging growth are Craighall, Hyde Park, Sandton, Sandhurst, and Bedfordview: “Our sales in those areas have also increased significantly during the past year.”
According to Manuela Coelho, Freehold Area Specialist in Bryanston for the group, there are several compelling reasons for the suburb’s market resilience: “Bryanston is a well-established suburb which is not only in close proximity to several excellent schools, it also offers easy access to Sandton and several other popular commercial hubs.
“And, although Bryanston used to be almost exclusively freehold, it now offers a wide choice of property options with more accessible price points so we’re seeing more young families move into the area and, when it comes time to upgrade to a larger home, most tend to stay in the suburb.”
Coelho, who works exclusively in the freehold market, says that most of her buyers are local families from Bryanston and surrounds and that the most active price band in this sector is R6, to R9m.
“We are starting to receive more enquiries from expats but not many have as yet translated into sales – our market is very much local.”
As for who lives in the area, Odendaal says Bryanston’s residential demographic has undergone a complete evolution in the past 10 years.
“A decade ago, at least half of the residents would have owned their homes for 11 years or longer, having moved in as young families and staying on until the children left home.
“The current picture is very different. The number of long-standing homeowners has dropped to around 35%, while 33% of residents purchased their homes less than five years ago.
“Because of the proliferation of sectional title properties in the suburb, there has also been a surge in young and first-time buyers, with another spinoff of a robust sectional title sector in such an aspirant suburb being an active rental market with growing numbers of buy-to-let investors attracted by the realisation of solid returns.”
Odendaal adds that the area’s prolific growth has also spurred commercial development as well as upgrades to existing amenities.
“In addition to newer developments like the Nicolway Shopping Centre, upgrades to existing shopping facilities include trendy restaurants and cafes and two popular gyms.
“The Bryanston Country Club with its 18-hole golf course and range of sports facilities remains one of the most popular amenities and outdoor enthusiasts love the PWC Bike Park and Park Run.”
