Northcliff has become one of the most sought-after suburbs in northern Johannesburg as it not only affords residents a tranquil and exclusive lifestyle in close proximity to myriad top class amenities but also offers excellent value for money with a wide variety of property options.
This is according to Gert Bekker, Area Specialist for Lew Geffen Sotheby’s International Realty who says: “We are now experiencing stock shortages in the lower and mid-market segments with demand being driven by families who are increasingly attracted by Northcliff’s upmarket suburban atmosphere and the fact that they can get much more house for their money than in many comparable areas”.
“As one of the city’s older, more established suburbs it’s still largely dominated by spacious freestanding homes on substantial stands and, whilst some are luxury homes at the top end of the market, buyers have a choice three or four bedroom family homes with generous gardens which are accessibly priced between R2.5 million and R3.5m.”
He adds that Northcliff also offers first time investors exceptional value for money, especially in the extensions where plots are smaller and an older three bedroom house or modern townhouse can be bought for between R1.4m and R1.9m.
Citing the latest Lightstone data, Bekker says: “Over the past 12 months 303 properties changed hands in Northcliff with 164 of the total sales being freehold homes at an average selling price of R2.72m”.
“Of these, 98 were in the R1.5m to R3m price band, with 51 single title properties selling for more than R3m.”
During the same period, 107 sectional title properties were sold to a combined value of R116.99m with an average sale price of R999 905 and 32 homes in estates realised R57.93m at an average price of R1.81m.
The best selling price band for sectional title homes was R800 000 to R1.5m, with almost half the sales (50) falling in the bracket. Estates homes priced between R1.5m and R3m were the most popular, with 16 sales realised in this price band.
Bekker says that although the lower end of the market is currently experiencing the most activity, there has been a notable surge at the top end of the market in recent years where a growing number of homes are now nudging the R10m mark.
“I am currently marketing a home for R17.7m and a sale at this record-setter would certainly raise the ceiling price of the suburb as well as elevate its status, encouraging other wealthy buyers to invest in Northcliff”.
He adds: “It is in this market segment where the best value currently lies as it’s definitely a buyer’s market and investors have a wide selection of beautiful designer homes from which to choose”.
Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty says: “Northcliff is very much a family-oriented suburb where home owners put down roots and usually live in the area for the duration of their children’s schooling”.
“Lightstone data reveals that 46% of the residents have owned their homes for 11 years or longer, with the majority of stable owners (38%) being in the 36 to 49 age group. Of all recent buyers, 30% are under the age of 35 and 50% are in the 36 to 49 age group.”
Geffen adds: “With more than 90% of buyers living in their properties, there is a death of rental accommodation in the area to meet the growing demand.”
Bekker says that aside from the value it offers investors, Northcliff has many other key drawcards which are contributing to its growing popularity.
“Because there is no commercial activity in the suburb, Northcliff still offers an upmarket village lifestyle where families walk their dogs in the streets at the end of the day and children ride their bicycles in their neighbourhood”.
“However, it’s also very conveniently situated within the inner circle of the N1 Ring Road for easy access to the city centre, Sandton CBD and Randburg, and the nearby Cresta Mall offers top class retail with a wide variety of shops and key tenants.”
Families are especially attracted to the suburb because of the excellent schools in the area. Within 10km residents have a choice of several top private and government schools, all of which consistently achieve good academic results, with Northcliff High having being nominated Top Provincial School in Johannesburg three years in a row.