The sought-after northern Johannesburg suburb of Lonehill may border bustling Fourways and be flanked by two main thoroughfares, but it resolutely remains a tranquil and secure residential enclave with accessible pricing in a rapidly expanding urban metropolis.
According to Sally Andrews, Area specialist for Lew Geffen Sotheby’s International Realty, Lonehill’s affordable, secure, family-oriented lifestyle is the main driving force behind its market buoyance as it ticks all the most compelling boxes, especially for young families.
Citing Lightstone data Andrews says: “In spite of the general market downswing in response to the country’s growing socio-economic instability, during the past three months alone (March to May 2016), a total of 132 properties changed hands in Lonehill to a combined value of R204.45 million”.
“Of these, 88 were sectional title homes with half of these sales (44) being in the mid-market R800 000 to R1.5m price band at an average sale price of just over R1.13m”.
“The entry level segment saw 27 sales of properties priced between R400 000 and R800 000 at an average sale price of R682 333.”
Andrews says estates also fared well during this period with 36 sales realising R87.48m, with the majority (26) being in the R1.5m to R3m price band at an average sale price just short of R2.24m. Only six estate homes sold for above R3m at an average of R4.2m.
“Freestanding homes make up only 6.32% of the market share, so eight house sales in three months was a fair showing. Seven transactions were in the mid-market price band of R1.5m to R3m at an average sale price of R2.36m, while one property breached the R3m mark, selling for R3.3m”.
The increasingly sought-after suburb consists almost exclusively of sectional title properties (58.38%) and estate homes (40.1%), but its spacious layout interspersed with well-maintained parks and green belts lend the suburb its relaxed country-living atmosphere.
And, compared to many of its upmarket neighbours, Lonehill also offers first time buyers excellent value as well as an exclusive lifestyle at a fraction of the cost.
Marilyn Keeley, Area Specialist for Lew Geffen Sotheby’s International Realty says: “There are several property options available for under R1m, with a number of one bedroom apartments priced between R750 000 and R850 000 and two bedroom flats starting at around R950 000″.
“Three bedroom townhouses with generous private gardens in cluster complexes are very popular with young, growing families, especially those priced between R2.3m and R2.9m.”
Keeley adds: “It’s no surprise then that almost 40% of all buyers during the past year were aged 35 or younger, with the majority (164) of the 330 sectional title sales being in the R800 000 to R1.5m price band.”
Estates homes tend to attract slightly older, more established buyers in the 36 to 49 age group with 104 of the 154 properties sold falling in the R1.5m to RR3m price band, although a considerable number (29) of estate properties transactions were in the R3m plus bracket.
Lew Geffen, Charman of Lew Geffen Sotheby’s International Realty, says that Lonehill’s appealing drawcards also contributed to the suburb’s expeditious recovery from the 2008 crash and its steady growth in recent years.
“Although the Lonehill market took a big dip after the economic downturn with the average selling price plummeting from R1.67m in 2007 to R1.02m in 2009, it has recovered at a steady rate since 2010″.
“In 2011, the average sale price bumped up to R1.05m and by 2014 it reached R1.32m, with 2015 ending on an average selling price of R1.67m again.”
With safety being foremost on everybody’s mind these days, Lonehill’s excellent security and low crime rate is one of its strongest attractions.
Geffen says: “Lonehill has a very active residents’ association which works in partnership with Fidelity Security who are based in Lonehill and have 15 patrol cars and security guards on foot patrol and guards stationed at 90% of the complexes in the area, making Lonehill one of the safest suburbs to live in”.
“This means that residents enjoy 24-hour security seven days a week as well as a specialised medical emergency response service available at a low cost.”
Residents also don’t need to travel very far to access first rate amenities. A number of lifestyle estates have myriad facilities including gym, shops and restaurants and the Lonehill Shopping Centre not only has a good retail tenant mix but several excellent restaurants.
There are also several good schools in the area, including Buttercup Pre-Primary, Crawford College, Crawford Preparatory School, Lonehill Nursery School and Lonehill Village Pre-school.