Demand for property on the up in Johannesburg’s ‘The Parks’

The leafy suburbs making up the area known as The Parks in northern Johannesburg offer a unique bouquet of property investment opportunities, and most importantly, a quality of life that is ‘a walk in the park’.

This three bedroom, three bathroom home in Parkwood has a covered patio and braai area overlooking a well-maintained garden and pool. It is on the market for R3.9 million - click here to view.

“When buying in The Parks, you’re buying into a lifestyle. There is The Delta, a green hub where people go walking and jogging, cycling and walk their dogs. There are also stables and restaurants, and it offers a lovely vibe,” says Lorraine Hurdus of Jawitz Properties, who services Parks’ suburbs, including Craighall, Craighall Park, and Hurlingham.

“People use their outdoor spaces, particularly in my area where property stands are smaller,” says Shelley-Ann Solms of Jawitz Properties who works in Parkhurst, where 495sqm is the general stand size.

Gail Katz of Jawitz Properties, who services Parkwood, says it’s the ultimate Sunday lifestyle in The Parks, only it’s almost like Sunday every day. She says the quality of life is a major drawcard to The Parks, particularly for parents.

Park life in the city

Katz says one of the big factors influencing buyer demand is the development happening in Sandton. Traffic is a major issue and because of the excellent schools in The Parks, both private and public, some of which are zoned in that pupils have to live close by to attend, families are looking to relocate.

“They want their children to receive the best education, as well as to be close to schools where they can enjoy extra-mural activities, which are generally held at school or close by, and can avoid spending hours on the road each day going back and forth. Again, it comes down to quality of life,” says Katz.

This two bedroom, two bathroom home in Parkhurst has a covered entertainment area, pool and cottage. It is on the market for R2.7 million - click here to view.

“The Parks are also very safe because of the residents’ associations in each suburb, making outdoor living and all the great aspects that come with it very appealing to parents and other prospective buyers,” says Solms.

She says the proximity to the Gautrain, Rosebank node and Hyde Park shopping centre also contribute to the area’s sought-after address.

Parks perception

Solms says there is a perception that certain suburbs of The Parks are more exclusive or elite than others, but interestingly average prices indicate a similarity across the board, with a few exceptions at the top end of the market.

“There is almost something for everyone, it really depends on what you are looking for. In my areas, beautiful character homes are synonymous, but many homes have been upgraded and renovated, bringing a modern, contemporary vibe and feel to The Parks,” says Glynis Van Zuydam of Jawitz Properties operating in Parkview and Parktown North.

She says some properties lend themselves to the possibility of renovations, while the older heritage homes often require preservation in addition to permission to make alterations.

Larger homes in Parkwood or Parktown North for, example, have potential to be renovated from old staff facilities into lettable spaces to supplement income. Any previous worries of overcapitalising are a thing of the past. Airbnb is of course popular, and while there are apartments available too, there are however no high-rise apartment buildings, unlike in other areas of Johannesburg, says Van Zuydam.

This four bedroom, three bathroom home in Craighall Park has a covered patio with wood-burning fireplace, pool and staff quaters. It is on the market for R7.9 million - click here to view.

“The largest apartment block only has 48 units, and entry level in Craighall and Craighall Park is around the R2 million to R3 million price range, but the average price is R4.5 million to R5 million, while the upper end is around R6.5 million to R8 million,” says Hurdus.

Park subdivision

Interestingly, Hurdus says in Craighall Park some freestanding homes are on stands of 2 000sqm, so in essence property owners who subdivide could get R1.8 million for their garden alone. A 1 000sqm stand can accommodate a large new-build home, and this is contributing to a climb in prices.

Hurdus says sub-division is still an opportunity, though not present in every part of The Parks.

“Very little subdivision is still happening in Parktown North and Parkview, with the smallest stand permitted being 750sqm, although there are exceptions,” says Van Zuydam.

”Currently, on average, entry level into Parktown North is around R2.65 million and Parkview around R2.8 million. On the upper end of the market, Parktown North is currently achieving sales of around R9.5 million and Parkview around R7.3 million. On average, stand sizes are around 1 200sqm, but do vary, with larger stands ranging from 1 500sqm to 2 000sqm, and very sought after in The Parks.”

Meanwhile, Katz says Parkwood, perceived to be the most exclusive is a diverse area where prices as high as R13 million have been achieved. “The bulk of sales, however, are in the late R6 millions at the top end and R3 million at the lower end.”

This three bedroom, three bathroom home in Parkview has a well-maintained garden, pool and staff accomodation. It is on the market for R3.2 million - click here to view.

In Parkhurst, Solms says the low end is around R2.6 million and the high end R5.5 million, though higher prices have also been achieved. “There are only a few properties that can still be renovated.”

Across the board, Solms says a budget of R3 million could buy you a home in any of The Parks’ suburbs.

Park that

According to Solms, parking can be a slight issue in some parts, but equally, living in The Parks means most amenities are in walking distance. While in a lot of areas of Johannesburg a car is essential, The Parks’ position almost negates the need entirely, and the hospitality and shopping options are quite unique too.

“There aren’t many franchises. Usually it is the smaller, one-of-a-kind businesses that do well here. There is even push-back against more commercial use properties to enter, keeping trade areas to a minimum,” says Solms.

This two bedroom, two bathroom apartment in Parktown North has an open-plan lounge leading out to a private patio and garden. It is on the market for R2.8 million - click here to view.

Van Zuydam says while commercial use has crept a little further than desired into certain parts of the suburbs, it is being closely monitored and contained. In Parkview, it has been known that properties that had commercial rights some years back that re-enter the market have not maintained their commercial status, but have been reinstated as ‘residential’ once again in order to preserve the integrity of the suburb.

Katz says ‘green’ and outdoor living really are key here, where most restaurants offer water bowls for canine patrons, and in Parkhurst, for example, there are electric car charging points and the aim to be off the grid entirely by 2020. A ‘pavement lifestyle’ also comes to life throughout The Parks, blending beautifully with park life.

“It is very continental, with a European feel,” says Katz.

“The early risers enjoy the sunrise and contribute to the breakfast trade, and even when the sun goes down, people are milling around, happily passing the time in The Parks,” says Hurdus.