New Trends Emerge from Sundowner
Category Suburb Profiles
Sundowner is an in-demand residential suburb in Randburg that is centrally located close to major highways, freeways and main roads, as well as top-notch schools, shopping malls and hospitals. For all these reasons and more, the suburb is experiencing high homebuyer activity for both freestanding and sectional-title homes.
According to the latest Lightstone Reports, Sundowner has a residential market that is comprised of primarily sectional-title properties which make up 66,59% of the market, followed by freestanding properties at 25,74%, and the smallest percentage of stock is in estates at 7,67%.
Property Values Sore
With an ever-growing property market, the suburb is experiencing substantial growth in the value of homes, which is a trend that can be identified throughout Randburg.
Over a ten year period, from 2009-2019, vacant land increased in value the most, from R488 000 to R1 650 000 or a 238% appreciation.
Cobus Odendaal, the Managing Director at Lew Geffen Sotheby's International Realty Randburg, says the reason for this phenomenal growth is due to a high investor and developer confidence that has pushed values up way above inflation.
"Over the past ten years, new residential developments started mushrooming throughout Sundowner as more developers and investors injected capital into the market.
"Due to this, the demand for vacant land began reaching all-time highs resulting in values growing beyond 200%."
Sectional-titles and freestanding homes also saw promising growth in values, with reports revealing respective increases of 26.6% and 39.7%.
Stable Home Ownership
Sundowner is a popular residential suburb due to its good network of roads, amenities and beautiful homes. Because of this, residents live here for long periods of time, oftentimes, their whole lives. Reports reveal that 43% of residents who buy homes in the suburb live here for 11 years and more. While, the biggest percentage of long-term residents are the middle-aged group (36-49 years old) at 47%, followed by the mature group (50-64 years old) at 27%.
Over the past 12 months, from May 2018 to April 2019, there were 192 homes purchased in the suburb valued in total at just over R200mil and averaging R1,1mil per home.
Odendaal says that the biggest activity took place in the sectional-title market where 136 properties were purchased worth a total of just over R120mil and averaging R900 000 per home.
Most homebuyers between this time were between 36-49 years old at 44%, while the youth/adult group (18-35 years old) also saw high activity at 38%.
Sundowner lies close to a number of other popular Randburg suburbs such as Northwold, Bokruin and Honeydew. Through the years, it has attracted a high number of homebuyers with families due to the number of high-quality schools nearby such as Auroras Private School, Newton House School and Curro Castle Aurora. More than this, you can find high-quality hospitals such as Medicare Boskruin Centre, Crescent Private Clinic and Intercare Northriding.
Value for money is a big reason why people are choosing to buy homes in Sundowner - a two-bedroom apartment can start from as little as R650 000, while a three-bedroom apartment can start from R795 000. On the other hand, townhouses and freestanding homes are typically priced from R1mil upwards.
On the Market
Lew Geffen Sotheby's International Realty Randburg has a number of sole mandate listings from this flourishing suburb and surrounding areas, including an exquisite 4-bedroom house that is currently on show. Another sole mandate listing, in the neighbouring suburb of Sharonlea, has recently come on the market. This four-bedroom family house boasts a large lounge with a wood burning fireplace, a modern gourmet kitchen, and designer finishes. More than this, the entertainment and outdoor features are endless, some of which include a built-in braai area, a covered patio, and a well-manicured garden and sparkling pool.
To find out more about the homes in Sundowner, contact our helpful agents today.
Author: Lew Geffen Sotheby's International Realty Randburg