Prices in Johannesburg south start at around R800k for a three-bedroom home in Mondeor, ranging up to the multi-millions in the more upmarket suburbs such as Bassonia, Glenvista and Mulbarton.
"Entry-level areas such as Mayfield Park, Kibler Park and Winchester Hills have been affected by the economic downturn, with prices having dropped by about 10% to 15%," says Neels Potgieter, principal and owner of the CENTURY 21 franchise in the area.
"There is a lingering perception that the southern suburbs are somewhat downmarket. Nonetheless, there is a widening appreciation of the South's selling points: good infrastructure in terms of roads such as the M1 and the N12, good schools and shopping facilities such as Southgate, The Glen and Comaro Crossing and good access to all points of the Johannesburg compass.
"What's missing from the South are more employment opportunities, but in time this too will no doubt be remedied as businesses increasingly identify and explore the potential of the area.
"Moreover, the economic vibrancy of the area is underlined by a sound property market which has weathered the downturn better than most."
"We are successful with about 60% of our bond applications, as opposed to the market average, which I understand, is as low as 30% in some areas – and we are seeing the property market in the South really come into its own."
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