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10 Joburg suburbs where the average home costs under R1m

Affordability is a major concern for home buyers looking for great value. We've compiled a list of middle-class suburbs where the average home costs less than a million rand.

The massive petrol price hike this week is just the latest in a series of increases that have hit South African consumers hard lately. And as increases to food, fuel and utilities bite, affordability is becoming a major concern for home buyers.

According to recent data from bond originator BetterBond, more than three-quarters (78%) of the bonds granted in the past 12 months have been for less than R1.5m – and 60% were for less than R1m.

The market segment under one R1m is driven to a large extent by first-time buyers - young professionals, young families or couples who have just moved in together. Below is our list of suburbs in Johannesburg, where the average home cost less than R1m.

The data is compiled using listing data from the Private Property website for April 2018.




Ferndale
Ferndale is an established Johannesburg suburb that is quiet and suburban, and within easy reach of Randburg’s modern conveniences. The property market consists of good-sized properties along wide, tree-lined streets.

51% of the property for sale in Ferndale is under R1m.

Property Type:
House: 38%
Flat: 46%
Complex: 16%

Median Asking Prices:
House: R2,450,000
Flat: R700,000
Complex: R1,250,000


Northwold
Located north of Johannesburg, Northwold is a quaint suburb with accommodation ranging from entry-level apartments to some spacious freestanding homes. Convenience is key is Northwold, with easy access to good schools and shops nearby.

54% of the property for sale in Northwold is under R1m.

Property Type:
House: 29%
Flat: 31%
Complex: 40%

Median Asking Prices:
House: R1,925,000
Flat: R765,000
Complex: R997,000


Halfway Gardens

Halfway Gardens is a popular suburb in Midrand that is popular with first-time buyers and investors alike. It has a convenient location and a diverse selection of property, from small apartments to luxurious homes.

53% of the property for sale In Halfway Gardens is under R1m.

Property Types:
House: 29%
Flat: 36%
Complex: 35%

Median Asking Prices:
House: R1,850,000
Flat: R772,500
Complex: R1,190,000


Noordwyk
Sectional title properties are extremely popular with young people due to lower prices, security and shared maintenance costs. Many new sectional title developments have popped up in Noordwyk over the last few years to cater for growing demand from young buyers and investors.

54% of the property for sale in Noordwyk is under R1m.

Property Types:
House: 35%
Flat: 44%
Complex: 21%

Median Asking Prices
House: R1,590,000
Flat: R825,000
Complex: R1,100,000


Linmeyer
Linmeyer, is a small established suburb in the south of Johannesburg with easy access to major highways. The suburb is especially popular with young families due to the quality private and government schools nearby. The Glen shopping centre is also close by, which is convenient for those that value their retail therapy.

51% of property for sale in Linmeyer is under R1m.

Property Types:
House: 51%
Flat: 13%
Complex: 36%

Median Asking Prices:
House: R1,580,000
Flat: R560,000
Complex: R580,000


Radiokop

Radiokop, in north-west Johannesburg, gets its name from the Sentech installation that sits in the centre of this suburb. Many buyers eager to get onto the property market are turning to West Rand suburbs like Radiokop due to the great value that can be found here. The suburb enjoys easy access to a range of good schools nearby, Northgate and Clearwater Mall for shopping, and a good transport network.

51% of property for sale in Radiokop is under R1m.

Property Types:
House: 19%
Flat: 18%
Complex: 63%

Median Asking Prices:
House: R1,699,000
Flat: R740,000
Complex: R935,000


Jackal Creek

Although it’s not a suburb in the conventional sense, with well over a thousand homes, Jackal Creek Golf Estate in Northriding can be considered one. What’s unusual about the estate is that the developers chose to build reasonably priced townhouses and apartments, rather than the luxurious mansions normally associated with golf estates. The estate is close to Northgate shopping centre and offers reasonable access to private schools and government schools in surrounding areas.

66% of the property for sale in Jackal Creek is under R1m.

Property Types:
House: 10%
Flat: 74%
Complex: 16%

Median Prices:
House: R2,150,000
Flat: R880,000
Complex: R1,575,000


Witpoortjie

Witpoortjie, at the far end of Roodepoort, it is a classic example of the stereotypical West Rand suburb. Although the homes are not fancy, the plots are large and the streets pleasantly wide. The position of the suburb makes it easy to get to shopping and entertainment facilities on the west or the Krugersdorp CBD.

70% of the property for sale in Witpoortjie is under R1m.

Property Types:
House: 79%
Flat: 9%
Complex: 12%

Median Asking Prices:
House: R989,000
Flat: R400,000
Complex: R657,500


Erand Gardens
Another Midrand suburb that is popular with young professionals and investors, Erand Gardens offers a good selection of affordable property in the many new developments in the area.

71% of the property for sale in Erand Grdens is under R1m .

Property Types:
House: 79%
Flat: 9%
Complex: 12%

Median Asking Prices:
House: R1,619,500
Flat: R850,000
Complex: R1,024,500


Winchester Hills
Winchester Hills, in the south of Johannesburg is one of those suburbs that is strongly dominated by townhouse developments. Due to the hilly nature of the suburb, many complexes enjoy epic views to the south. The suburb is close to the highway, shops and residents have relatively easy access to schools in nearby Mondor and Glenvista.

63% of the property for sale in Winchester Hills is under R1m.

Property Types:
House: 25%
Flat: 18%
Complex: 57%

Median Asking Prices:
House: R2,095,000
Flat: R750,000
Complex: R849,000

Background

This report is compiled using search activity and median asking prices of residential properties listings on Private Property’s website in April 2018. To maintain consistency over time and assist comparison between areas, data is only presented for areas with 100 or more listed properties and grouped by the following common attributes of residential properties in South Africa: type (houses, townhouses or flats).

Some effort is also made to exclude outliers from the analysis. A feature of Private Property’s report is that it provides insights based on current asking prices rather than the eventual sale prices of property transactions. This is an important distinction, as the two measures provide slightly different insights into the property market.

Private Property’s median asking price data provides a view of all properties being offered for sale on its website. This has the advantage of including insight into many more properties than are eventually sold in each quarter. Although asking prices are usually slightly higher than sale prices, they have an advantage of being available to analyse well in advance of the eventual transactions. Care must be taken when interpreting prices of listings on Private Property’s website, as it differs from some analysis of sale prices that track individual properties as they are offered for resale over time.

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