Homes in the price range between R750k and R1,25m are currently selling well in Johannesburg's Orange Grove.
So says Nils Hanneman, broker/owner of RE/MAX Central Norwood, who adds that property in trendy Norwood with its sidewalk cafés and newly upgraded shopping mall falls within the R800k to late R2m price bracket.
"Sydenham and Highlands North prices range between R1m and R2m. Many of these homes are built on double stands of approximately 990sqm," says Hanneman.
Mark Golgberg, agent for RE/MAX Norwood, says price is the biggest determining factor in Norwood and Orange Grove. "Greedy sellers will not sell their properties in these areas. If they are priced right, they are almost sure to sell."
Golgberg says houses in the R1m to R1,8m range are selling well in Norwood. "In Orange Grove, those properties between R700k and R1m don't spend long periods on the market. Townhouses aren't selling in these areas due to a shortage of available stock.
He says the average entry-level price for Norwood is R1m. "But very few entry-level buyers are purchasing property in Norwood. Families are the main buyers.
With stand sizes of approximately 1,500sqm, Bramley, which is within walking distance to Melrose Arch, is another popular area to invest in, says Hanneman. "Here buyers can expect to pay anything from R1,1m for an entry-level home to R3m for properties with business rights."
He says Lyndhurst, Lombardy East and Rembrandt Park still offer great value for first-time buyers with townhouse prices reaching the early R400k's and houses starting at around R800k.
"Luxurious lock-up and go properties are also in high demand in Linksfield, Bedford Park, Senderwood and St Andrews. Entry-level homes here start at about R1,1m for townhouses while houses range from R2,5m upwards." – Eugene Brink
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