What are the chief pricing and sales trends of Oakdene property?
Oakdene has a thriving property market which is becoming more and more sought-after. The last ten years have ushered in an age of unparalleled growth in terms of property values, with new residential and commercial developments assisting this upward surge in property values.
The residential market stock composition currently comprises an excess of 1530 properties and is split almost perfectly in two – with freehold or full title properties making up 51% of the total composition and sectional title properties accounting for the remaining 49%.
Freehold Oakdene Homes
36 freehold property sales were concluded over the recent year, with prices ranging from about R 250 000 to almost R 1, 900 000 – giving an overall average of slightly over R 1, 280 000. The latter average is considerably lower than the current average prices as per growth and activity trends and average municipal valuation, of about R 1, 700 000 and R 1, 500 000 respectively.
This suggests that property values in this category are holding very well at present, with excellent opportunities for value-buys and robust ROIs.
Smaller homes can command in the region of R 600 000, while bigger freestanding houses can fetch anywhere from R 800 000 to around R 2, 500 000 to R 3, 000 000 for the more exclusive properties. Average prices here place these properties among the highest by comparison in terms of nearest town rankings and on par with the likes of Worlds View in KZN, on a national platform.
Sectional title Oakdene Units
156 sales within this category of the market were recorded over the past twelve months. The number is much higher than the freehold sales due to a number of first-time registrations in this growing area.
Average prices here have ranged from under R 400 000 to about R 960 000 – with a total average of approximately R 886 000.
A look at the property market and recent sales in this segment, reveals that depending on size and exclusivity apartments and sectional title properties can command anywhere from R 500 000 to R 1, 500 000.
The overall sectional title average price above is quite similar to the current averages as reflected by growth and activity trends as well as the municipal valuation. This places average prices here on par with the likes of Glen Fernes more locally and Die Rand in WC on a national level.
Where is Oakdene situated, and what makes its location an advantage?
Oakdene is a picturesque suburb located in the southern part of Johannesburg in South Africa’s Gauteng Province.
It has, in recent years, quickly established itself as one of the most sought-after residential areas in the southern parts of the city. Even though it lacks the bright lights and the glitz of its northern counterparts; the picturesque suburb more than makes up for it with secure, quiet living.
In fact residents love the quieter lifestyle while still having easy access to the city and all its amenities. The CBD is a short 15 to 20-minute drive away, traffic permitting. It’s also worth noting that there are a number of homes within the suburb that offer residents spectacular night-time views of the city – thanks to the area’s ideal location.
What are some of the amenities that Oakdene property owners enjoy?
Amenities are plentiful in and around this peaceful southern Johannesburg suburb. The area is serviced by two nearby police stations, affording residents extra peace of mind when it comes to safety.
Schooling choices are plentiful with parents being able to choose between Glenanda Primary School, Townsview Primary School as well as the Mondeor High School to name a few. Oakdene also plays host to a number of excellent shopping centres, all of which can be found in the immediate vicinity.
Everything from prime healthcare to a bevy of shopping opportunities, are all close on hand.
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Author: Barry Davies