With its village atmosphere, upmarket reputation and prime location close to Johannesburg’s major road networks, Bedfordview remains one of Johannesburg’s most popular residential suburbs, and contemporary, well-appointed properties in good condition that are available to rent are highly sought after in the area.
“The rental market in Bedfordview is for the most part very strong,” says Brad Burton, rental agent at the Pam Golding Properties (PGP) Bedfordview office. “This is particularly true of secure one- to three-bedroomed properties in the R8 000 to R15 000 pm rental range, and for townhouses and cluster homes for which there is a considerable demand.”
Ken Woollcott, manager of the PGP Bedfordview office, observes that: “The recent increase in interest rates and a slight tightening up by banks on lending criteria may be helping to stimulate the rental market in suburbs such as Bedfordview. For some people this may make renting a more attractive option.”
The higher end of the rental market in Bedfordview is also performing well. Good quality clusters in upper Bedfordview, for example, are renting for as much as R30 000 to R40 000 pm. PGP recently rented out a beautiful cluster home in a well-known estate for R35 000 pm with an escalation in year two to R37 100 pm.
“One of the attractions of Bedfordview is that, although it has an upmarket reputation and is an aspirational neighbourhood, it offers tenants a range of property options,” says Burton. “Homes here are also generally considered to offer good value for money across all price ranges.”
According to Burton, the average three- or four-bedroom cluster or house ranges in size from 300-600sqm, while two- or three-bedroom modern apartments are usually 80-150sqm. The range in monthly rental rates for different types of properties in Bedfordview are as follows:
· One bedroom apartments – R6 000 – R10 000
· Two bedroom apartments – R8 000 – R22 000
· Three bedroom apartments and small clusters – R12 000 – R28 000
· Four bedroom clusters and houses – R16 000 – R35 000
· Five bedroom clusters and houses – R20 000 – R40 000
“The buy-to-let market can offer a good yield to investors, up to 12% in some cases,” adds Woollcott. However, he advises those who intend to invest in this market to first consider partnering with an experienced property group.
“There are a number of aspects that need to be considered when purchasing a property that you intend to let; therefore it can be a good idea to find an agency that is experienced in the area and can provide you with the necessary guidance. Besides offering advice, your property partner should be able to assist in matching you to the right kinds of investment properties.”
“Bedfordview is very cosmopolitan and it is home to large numbers of top-earning professionals between the ages of 25 and 45,” says Burton. “There are also outstanding schools in the area, which attract families. The local council is well organised and works hard to ensure that the suburb is a clean, safe environment for the whole family. There is always a strong police and security presence in the area.”
Some of the quality public and private schools in the suburb include St Benedicts Boys’ School, St Andrews Girl’s School, Bedfordview Primary School, Leeuenhof School, Saheti School, Bishop Bavin, Redham House and Bedfordview Christian School.
Bedfordview is situated very close to the N3 and N12 freeways and the Gillooly’s interchange, giving commuters easy access to the city of Johannesburg and its suburbs. It is also just 10 minutes from the airport, making it an ideal base for executives who need to commute frequently.
Besides schools, the suburb is home to an impressive range of other facilities including shopping malls, entertainment centres, office blocks and places of worship. Outstanding shopping and entertainment experiences are to be had at malls in the area including Eastgate mall, Bedford Centre; Bedford Village; Village View Shopping Centre and Key West Entertainment Centre, to name just a few.
“Bedfordview is an upmarket and trendy suburb so it is not surprising that the rental property market is growing from strength-to-strength here. With the area developing so rapidly and rental homes in demand, this trend is only likely to continue,” concludes Woollcott.