What are the pricing and sales trends of Allens Nek property composition?
This growing, well-situated and almost rectangular shaped suburb has a property market stock composition dominated by sectional title properties at 67%; followed by freehold or full title properties representing 30% and residential estate properties accounting for the remaining 3% of the total stock.
Allens Nek Sectional Title
Undoubtedly a main drawing card of the area is its wide selection of premium, but affordably priced, properties within this category made up of townhouses, flats and apartments – much like the Weltevreden Park (an adjoining suburb) market.
The abundant supply means a wider market selection to accommodate the varying tastes, income levels and other aspects influencing buyers’ decisions.
The average price based on the 99 reported transfers over the recent year, is approximately R725 000 - which comes in at around R50 000 above the current growth and activity price, and is marginally lower than the prevailing municipal average price.
Despite this, sectional title, and full title selling prices can range from as low as R500 000 or so, to an excess of R2 000 000. The suburb is ripe with investment potential and buyers of all kinds will be glad to note that the average price here has shown an increase over the last ten years.
Average prices here are on par with Roodekrans more locally, as well as Rusdal in WC on a national level.
Freehold houses in Allens Nek
In this category we note that 38 successful house transfers have taken place over the recent twelve months, with an overall average price of little over R 1, 200 000.
Growth and activity trends of the area report a slightly higher average by about R 37 000 – while the municipal average is over R 1, 350 000. Yet, there is still a fair diversity for property buyers and savvy investors of unique appetites, seeing that recent average sales prices have ranged from about R 370 000 to over R 1, 700 000.
This area favours freehold investments too, given that the average property price here is considerably lower than current nearest town ranking averages. This makes it a haven for value buys, offering great potential ROIs for the future.
For example the average price here is considerably lower than the likes of Kloofendal in light of nearest town rankings, whereas in national terms it is on par with suburbs like Eduanpark in Limpopo.
Just 4 of these properties were sold over the recent year, which makes sense given that these sales fall into the smallest segment of Allens Nek stock composition which is strongly sectional title based.
The overall average in this category tips over R 770 000 based on a range of selling prices from R 600 000 to R 830 000.
These prices suggest great value, especially in an area of fewer residential estate homes for sale. Investors may be particularly keen on acquiring a jewel in a secure, close-knit community synonymous with residential estate living, possibly for rental or resale down the line.
Where is Allens Nek situated, and what makes its location advantageous?
Allens Nek is a thriving suburb located in Roodepoort with the affluent Randburg and Sandton in close proximity. Surrounding it one will find similarly styled suburbs such as Strubens Valley. With the city centre of Johannesburg also within easy reach, the location is advantageous to property owners who can comfortably enjoy that tranquillity of inner-suburb living, with the option of embracing fast-paced city life and its benefits. Roads, such as the M47 and R564, make for easy incoming and outgoing accessibility.
What are some of the amenities within reach of Allens Nek property owners?
Residents have a plethora of options when it comes to first-class amenities in and around the suburb; here’s a bit more insight:
Schooling : Allens Nek offers a variety of different schooling levels within close proximity, catering to all ages. Smart Brat Nursery School, Allen Glen High School and several private schools being Charter House, Trinity House Little Falls and Maragon Private School. The Monash University is situated in Ruimsig which is a short ten minute drive. There are several more schools which are easily accessible to residents in the surrounding areas.
Healthcare: There are a number of well-established medical facilities available near Allens Nek, the Life Wilgeheuwel Hospital is a 5 minute drive away. There is also the Flora Clinic and Strubens Medical Centre which is also 5-8 minutes away. Be Safe Paramedical and Valued Life Health can be accessed.
Entertainment and Shopping: Clearwater Mall is available to residents of this suburb and offers everything from cinemas, to a variety of eateries as well as retail stores, and abundant parking. Furthermore, Hillfox and Makro are within a five minute drive. A short drive from Allens Nek in the neighbouring suburbs are Northgate and the Randpark Ridge Shopping Centre and the beautiful Lifestyle Garden Centre.
Places of Worship: Within the area and surrounding suburbs are many places of worship of different denominations.
Why Allens Nek is for you?
Allens Nek is literally a gem that’s been established in the midst of various progressive and sought after suburbs. Apart from offering buyers great value for money, the inner-suburbs lifestyle that Allens Nek provides makes it ideal for family living, those looking to quieten down or professionals and businesspersons seeking a peaceful, secure suburb within travelling distance of surrounding commercial hubs.
Specialists you can rely on – Chas Everitt Randburg
Choosing an estate agent you can trust is akin to choosing a doctor in some ways. The right provider will save you a lot in time, money and heartache down the line. When making one of the most paramount investment decisions in your life, you can depend on us to support your best interests in terms of sincere undiluted advice. For more expert insight and professional assistance with all-things property related, our locally based agents situated at our Randburg office, look forward to assisting you further.
Author: Barry Davies