In a subdued economy, suburbs that offer the best value for money attract the lion’s share of a constrained market and the conveniently situated Bramleys offer the sought-after trifecta: location, location and accessible price point.
This is according to Edgar Mhlope, Bramley, Bramley View and Bramley Gardens area specialist for Lew Geffen Sotheby’s International Realty who says: “Compared to many of their upmarket neighbours, these areas are very accessibly priced with predominantly freehold homes on generous erfs”.
“Bramley Gardens is a classic middle class suburb with stand sizes averaging 1 500m² and property prices ranging between R1.5 million and R3m while Bramley proper, which is adjacent to Melrose Arch and has several boomed streets, is a little pricier with houses on erfs from 600m² priced between R2.1m and R3m”.
“Bramley View is an excellent entry suburb where plot sizes average 300m² and prices range between R400 000 and R1m, depending on the condition of the home and whether or not it has been renovated”.
“Bramley is very centrally situated only a stone’s throw from Melrose Arch and attractive to people who cannot yet afford to buy in suburbs like Illovo and Atholl. Bramley Gardens is popular with young families who want to be closer to Sandton while Bramley View offers great starter homes that are especially sought-after by civil servants who are attracted by the suburb’s central position.”
Lew Geffen, Chairman of Lew Geffen Sotheby’s international Realty, says that not only have the markets in these suburbs remained steady with only a slight decline in the number of sales, but Bramley View has also seen its property values continue to rise steadily by considerable annual increments over the past three years.
“The median house price increased by 14% between 2014 and 2015 from R655 000 to R750 000 and again by a further 10% to R825 000 at the end of last month”.
“In the other two suburbs, the median house price has hovered between R1.25 and R1.3m since the beginning of 2015.”
He adds that the areas accessibility and strong appeal is evident when one analyses Lightstone’s sales data.
“Around 60% of all current home owners have lived in their properties for 11 years or longer with a fairly even split between the 36 to 49 and 50 to 64 age groups, however 40% of all recent investors who bought property in these three suburbs during the past 12 months were under the age of 35, with the majority of sellers during this period were between 50 and 64 years of age”.
“The demographic has changed considerably in recent years. Not only are there far more young home owners now, this is area is also very representative of the diversity of our rainbow nation with aspirant professionals and young families from all walks of life moving into these suburbs.”
Mhlope says: “Not only are the Bramleys near to all the major business nodes, they are also in close proximity to the main freeways and conveniently situated halfway between the Johannesburg CBD and Midrand”.
“There is also a local business node near the N1 and Corlett Drive where many older houses have been turned into offices and there are new office developments in the pipeline close to Bramley North towards Melrose Arch”.
“Residents also have a choice of good schools and their pick of top class shopping malls as well as a number of sports facilities, including Wanderer’s Cricket Stadium and several golf courses.”