The highway improvement and upgrade of the William Nicol interchange has alleviated a lot of the traffic congestion at peak times and this is making the Fourways area even more appealing.
So says Jason Shaw, branch manager for Pam Golding Properties (PGP) in Fourways, who adds that the market has been stable for 12 months. “The secure estate market is beginning to pick up quite nicely.”
Kim McGorrell from Fine & Country’s Fourways branch agrees that the demand is being further catalysed by the completion of the recent major road works to the area which has fast-tracked access to Sandton, Midrand and the airport. “While development tapered off to some extent in the area thanks to a lack of electrical supply, it has proven something of a boon in that it has underpinned the value of existing properties.”
She says the area’s property diversity is another strong drawcard with accommodation to suit every pocket. “Sectional titles and clusters are plentiful and there are several upmarket estates. One-bedroom apartments are currently priced at R500k while über luxurious Dainfern manors are selling for R20m.”
She says the middle-income property bracket is the most buoyant at present with two- and three-bedroom cluster homes priced between R1,2m and R1,7m moving fast.
Shaw says the sold properties represent a fair mix. “Sectional title below R1m is quite slow. Houses and clusters between R1,2m and R20m are stable and there seems to be decent activity in the top end suburbs of Lonehill, Beverley and the secure estates of Dainfern, Fernbrook and Fourways Gardens.
“In terms of buyers, there is investor activity in the secure estates, but not too much in the residential suburbs. Security is still key.”
In terms of selling time for properties, he says well-priced stock will sell within 2 to 4 weeks. “Those that aren’t, will remain on the market indefinitely.” - Eugene Brink
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