Randburg Property and General Area Information
Where is Randburg?
Randburg is one of the largest cities in Gauteng and is made up of 32 different suburbs. It is located in the northwest of Johannesburg and has only recently been assimilated into the Johannesburg municipality. Founded in 1959, Randburg was positioned in an area known as a stronghold for the NP – National Party – and acquired its name from a national competition at the time.
Due to Randburg's centralised location amidst the Metropolis of Johannesburg, this city has essentially become a hotspot for wealthy citizens desiring property for sale in a safe community – that is also situated in close proximity to high class amenities.
What is unique about Randburg as a Town?
The residents of the city are more affluent than most neighbouring cities. This is evidenced clearly in the beautiful architecture of many Randburg homes on the market, the wide open recreational spaces and the quality amenities that can be found within.
The close proximity and surprisingly quick travel time to Johannesburg allows residents to experience the safe community life that Randburg provides, but also ensures: lively nightlife, a plethora of daytime activities for all ages, quality schooling, healthcare and amenities such as boutiques that can only be found in big cities.
What is the Randburg real estate market made up of?
The market stock composition of Randburg is reasonably spread amongst freehold, sectional title and estate properties; it is comprised of around 47% freehold or full title, 35% sectional title and 17% estate.
Although Randburg is one of the more affluent cities in Gauteng, the relatively lower proportion of estate properties is due to the small amount of free space that is available. Many residents seeking to live in Randburg also prefer to acquire freehold properties since these can quickly become solid investments, should the owners decide to move.
The LSM range of Randburg residents is spread quite diversely, although more than half of the residents lie between LSM9-Low (R18, 000 – R24, 000) and LSM10-High (R51, 000 – R67, 000). The remainder of residents reside between LSM4-Low (R3, 000 – R6, 000) and LSM8-Low (R9, 000 – R15, 000) with only about 10% of residents falling between these two categories.
The majority of existing residents in Randburg are middle-aged adults between 36 and 49, but recent buying and selling behaviour suggests that more than half of the recent buyers are young adults aged 18 - 35 whilst recent sellers are comprised mainly of middle-aged adults. This may be a sign of affluent citizens retiring to estates as younger buyers take their place in the community.
What do various properties in Randburg sell for?
Freehold Randburg Property: The average valuation of freehold properties in Randburg is estimated at around R1, 325 000 and is around par with Roodepoort and Johannesburg City on a local scale, and George in the Western Cape or Southbroom in KwaZulu Natal on a national ranking. Over the past 12 months a total of 1 636 freehold properties have been sold: 208 of these sold for R 400 000 or less; 227 sold for between R 400 000 and R 800 000; 565 sold for between R 800 000 and R 1, 500 000; 508 sold for between R1, 500 000 and R 3, 000 000 and 28 sold for more than R 3, 000 000.
Sectional Title Property in Randburg: The average valuation of sectional title properties in Randburg is estimated at R 737 000 and is around par with Port Edward in KwaZulu Natal and Pretoria in Gauteng. Over the past 12 months a total of 2 134 sectional title properties have been sold: 297 of these sold for less than R 400 000; 1 295 sold for between R 400 000 and R 800 000; 508 sold for between R 800 000 and R 1, 500 000; 32 sold for between R 1, 500 000 and R 3, 000 000 and 2 sold for more than R3, 000 000.
Residential Estates in Randburg: The average valuation of estate properties in Randburg is estimated at around R 1, 250 000 with estate property values ranging between R 250 000 and R 7, 500 000. Over the past 12 months a total of 1 106 estate properties have been sold: 111 of these sold for less than R 400 000; 268 sold for between R 400 000 and R 800 000; 432 sold for between R 800 000 and R 1, 500 000; 250 sold for between R 1, 500 000 and R 3, 000 000 and 45 sold for more than R 3, 000 000.
Randburg Market Trends: The average selling price of properties in Randburg has seen a steady increase over the past ten years or so with a dramatic increase in 2013.
The average number of sales, however, has seen a decline since 2007, although this seems to be stabilising from 2010 and shows signs of increasing in the next few years as well.
What amenities are within reach of Randburg property owners?
: There are several reputable primary and high schools available for residents in Randburg as well as boarding school options in nearby neighbouring cities. Randburg is also home to some of South Africa's most prestigious colleges including Vega School of Brand Leadership, AAA School of Advertising, Boston City Campus and Business College and Damelin, to name a few.
: The Olivedale Clinic, Medi-Cross Clinic and Randburg Clinic are open at most hours and cater to injuries and illnesses of all kinds. For more serious medical problems, Johannesburg is situated only 25 minutes away with a wide variety of private and public hospitals to choose from.
: Randburg is the perfect home for shopping and outdoor enthusiasts alike as it is renowned for its many shopping and entertainment centres, but also has easy access to wildlife parks, game reserves and nature trails nearby.
What are the major attractions and landmarks around Randburg?
Randburg is locally famous for the abundance of shopping and entertainment areas such as Brightwater Commons, Northgate, Sanlam Centre and quite a few others, allowing residents even more options for fun and excitement. These centres have evolved to become successful urban shopping spaces and offer luxuries that aren't commonly found in local malls and markets.
These centres offer all of the amenities that are generally popular in entertainment environments as well as cinema complexes, restaurants hosting a variety of local and international cuisines and activities like laser-paintball, mini-golf and go-carting for the more active crowd.
*All prices and statistics mentioned above have been sourced from the latest Lightstone Property Reports.