A NORTHERN HOT SPOT
Fourways has come a long way since being a four-way stop and today the area has two of the most expensive estates in Gauteng, offering potential homeowners convenience and more
FAVOURABLE lending rates will assist the first-time homebuyer in enjoying a toe-hold in fancied Fourways as a positive political outlook looks set to shift real estate back to a seller’s market.
Sellers can expect an advantage as limited market stock will be good for values. However, it is still of critical importance that homeowners list properties at realistic values as the longer a property sits on the market, the less attractive it becomes to buyers, says
Tanya Mason of Mason Real Estate team with Keller Williams Realty International.
“Fourways is the fastest developing commercial and residential node in northern Sandton, and possibly Greater Joburg, at the moment. It’s an excellent time for investors to buy into the area before growth, and prices, skyrocket,” advises Mason, who cautions that knowing when to buy into an area is crucial.
In the case of Fourways, now is the time, she says, supporting her assertions with data from the second quarter of the year.
Signs that sentiment is favouring property owners are evident in second quarter figures for freehold homes in Fourways, which now average at R2.8 million, up from last year’s overall average of R2.5m.
In Fourways Gardens, freehold property averages R3.056m, down from last year’s figures of R3.6m, with second quarter sectional title values at an average R1.1m, an increase from last year’s R927000 mark, says Mason.
“There’s an excellent assortment of property types in Fourways, including freestanding homes, villages in the form of boomed roads, clusters in secure estates and sectional titles, and a few pockets of land still available, but scarce,” she says.
One can pick up a one-bedroom apartment measuring 50m² or slightly bigger for R699000, or a 24ha piece of land ready for development at R17.5m, says Mason.
A private company has just listed two estates in Fourways – Helderontein Estate (median R7.995m) and Dainfern Golf Estate (median R7.750m) – among