Bryanston is at the top of South Africa’s list of the top 5 suburbs in terms of both sales and total purchase price, despite Gauteng’s poor performance in terms of property growth inflation, which is currently less than 1%.
Lightstone data reveals that Bryanston was the top-selling suburb in the country last year in terms of sales volume and total purchase price achieved, with Sea Point in the Western Cape in second and Midstream Estate in Gauteng in third place.
The CEO of Johannesburg and Randburg’s Lew Geffen Sotheby’s International Realty, Cobus Odendaal, explains the progression of the sales since January.
“Our year-to-date sales in Bryanston recorded in February were up by an average of 5%, which is notably higher than the year-on-year national property inflation of 2.41% in January and way higher than Gauteng’s price inflation of 0.39% for the same period.”
Lightstone data supports this, indicating that Bryanston’s median home price has surpassed R4 million for the first time since 2018 and that the number of registrations has also increased sharply.
“The current median house price of R4.3m is nudging the 2018 median price of R4.4m, and, after a record low of 305, 2022 saw a record number of house registrations (608), and last year there were 438, the second highest number of registrations since 2016.”
Other suburbs that have shown encouraging growth are Craighall, Hyde Park, Sandton, Sandhurst, and Bedfordview, he said.
“Our sales in those areas have also increased significantly during the past year.”
According to Manuela Coelho, Freehold Area Specialist in Bryanston for the group, there are several compelling reasons for the suburb’s market resilience: “Bryanston is a well-established suburb that is not only in close proximity to several excellent schools but also offers easy access to Sandton and several other popular commercial hubs.
“And, although Bryanston used to be almost exclusively freehold, it now offers a wide choice of property options with more accessible price points, so we’re seeing more young families move into the area, and, when it comes time to upgrade to a larger home, most tend to stay in the suburb.”
Coelho, who only deals in the freehold market, the majority of her clients are neighbourhood families from Bryanston and surrounding areas, and the most active price range in this market is between R6 and R9 million.
“We are starting to receive more enquiries from expats, but not many have yet translated into sales; our market is very much local.”
As for who lives in the area, Odendaal says Bryanston’s residential demographic has undergone a complete evolution in the past 10 years.
“A decade ago, at least half of the residents would have owned their homes for 11 years or longer, having moved in as young families and staying on until the children left home.
“The current picture is very different. The number of long-standing homeowners has dropped to around 35%, while 33% of residents purchased their homes less than five years ago.
“Because of the proliferation of sectional title properties in the suburb, there has also been a surge in young and first-time buyers, with another spinoff of a robust sectional title sector in such an aspirant suburb being an active rental market with growing numbers of buy-to-let investors attracted by the realisation of solid returns.”
Odendaal adds that the area’s prolific growth has also spurred commercial development as well as upgrades to existing amenities.
“In addition to newer developments like the Nicolway Shopping Centre, upgrades to existing shopping facilities include trendy restaurants and cafes and two popular gyms.
“The Bryanston Country Club, with its 18-hole golf course and range of sports facilities, remains one of the most popular amenities, and outdoor enthusiasts love the PWC Bike Park and Park Run.”
The Star
anita.nkonki@inl.co.za