SO YOU thought Cape Town’s Clifton or Johannesburg’s Sandhurst were the country’s best suburbs to live in? Think again.
Johannesburg’s quaint northern suburb of Broadacres has emerged tops in a survey compiled by mortgage risk management company, Lighthouse Risk Management.
According to the report – Top 11 Property Categories for 2011 – released on Friday, the winners in each category were determined in terms of annual growth in property values between December 2010 and December last year.
The average property value in Broadacres, near Fourways, increased from R930000 to R1.7-million.
“The appreciation in value can be attributed to the recent extensive development in the area. It is also driven by previously vacant stands being developed and sold,” it says.
Eastern Cape’s seaside retreat, Kenton-on-Sea, took top honours as the best coastal town.
The average value for a modest, three-bedroom property in the town – nestled between Port Alfred and Grahamstown and boasting a population of only about 1000 – increased from R1-million to R1.5-million.
Western Cape’s Vredenburg, located about 12km from the coast at Saldanha Bay, took the title for the top inland town. Average property prices there rose from R324000 to R560000.
Stellenbosch’s sought-after De Zalze Golf Estate was crowned the country’s top luxury investment suburb.
Although the increase in average prices was not listed, the report says it won due to its 18-hole championship golf course and the 300ha of working farmland it’s located on.
The estate also boasts a winery and three restaurants.
Woodhill Golf Estate, east of Pretoria, clinched the “green jacket” for the country’s top golf estate. Average property prices there rocketed from R2.4-million to R3.4-million for the palatial homes around and overlooking the 18-hole golf course designed by former golfer Peter Matkovich. The title for SA’s top gated and enclosed estate was snatched by Kleinbron Estate in Cape Town where average property prices increased from R990000 to R1.8-million.
Esprit Estate in Sandton, north of Johannesburg, scooped honours for the top sectional title category. Average values appreciated from R1.5-million to R2-million within a year.
Described as an exclusive development, it features 109 detached houses with private gardens and 66 two-bedroom apartments.
Amenities include a delicatessen and coffee shop, fitness centre, tennis court, three swimming pools, entertainment areas, a scenic dam and a jogging track.
Bedfordview, east of Johannesburg, is the top area for development with a total of 64 new properties listed between January and July last year.
The suburb, according to the report, came in tops as the area with the highest number of first- time registrations of property.
The Eastern Cape’s property market ensured it secured honours for the top province category, with average values increasing from R550000 to R600000.
The historic Karoo municipality of Prince Albert was named top municipality with a 237% year-on-year annual growth in average property price. Values rose from R175000 to R590000.
“Whilst it is not obviously evident which particular areas or drivers contributed to this substantial growth, this is typically seen where residential developments transfer to second buyers after building has taken place,” according to the report.