Randburg Residential Property Market Report
- Introduction:
Randburg was founded in 1959 from 32 residential suburbs, including Linden, Bromhof, Cresta, Darrenwood, Fairlands, Northriding, Northwold, and Olivedale. Offering a diverse range of properties for sale, Randburg caters to various tastes, from historic charm to modern developments.
Formerly an independent municipality, Randburg was incorporated into the City of Johannesburg Metropolitan Municipality in the late 1990’s as part of Region B. It now serves as the primary commercial hub for Johannesburg’s north-western suburbs.
Designed as a garden city, Randburg boasts numerous parks and family-friendly entertainment options. Properties for sale in Randburg benefits from good infrastructure and caters to a wide range of home buyers – including freestanding homes in leafy suburbs, luxury lifestyle estates, cluster homes and even affordable apartments or flats close to commuter routes.
Many companies, such as MultiChoice (DSTV), have their headquarters in Randburg's business district. Randburg has no heavy industries, and the few light-industrial concerns include printing plants and small engineering works. Randburg is renowned for its abundance of shopping centres and entertainment venues, including Ferndale on Republic (Randburg Waterfront), Cresta Centre, NorthGate, Sanlam Shopping Centre and various others.
Randburg stretches over 168 km² with a density of 2 007 people per sq.km. It has a population of about 337 053 (2011 Census), of which 153 882 are White, 123 964 Black, 28 942 Coloured and 25 209 Asians. In terms of languages, 172 819 use English as their first language, 58 611 Afrikaans and 21 931 Zulu.
1.1 Randburg Residential Property Market - Size
In 2023, Randburg generated according to CMAinfo, R6,69 billion in residential sales and a total of 4 418 residential properties changed hands in this Johannesburg suburb.
Randburg has 79 970 residential properties with 27 461 being own title properties and 52 509 sectional title properties.
The residential property sales in Randburg can be divided between 2 014 own-title property sales worth R4,272 billion and 2 404 sectional title property sales valued at R2,418 billion. This equals 368 residential sales per month or about 12 property sales per day, with a combined sales value of approximately R557,5 million per month or R18,3 million per day.
1.2 Randburg Residential Property Market - Demand
The Randburg residential market demand is largely driven by:
- lifestyle buyers who are attracted to the area’s very good shopping centres and eateries, a good choice of educational facilities, including schools, and its quality medical facilities (including private hospitals),
- a variety of corporate headquarters based in the Johannesburg North and near the more affordable properties in Randburg (than Sandton and Bryanston),
Randburg boasts a strong residential property market, with 19 of its suburbs exceeding R100 million in residential sales during 2023.
The top 20 Randburg suburbs in terms of residential sales in Rand value, for 2023, were:
• Randpark Ridge : 576 Properties sold for R666 798 989 of which own title sales was worth R462 624 018 (219 houses) and sectional title was worth R204 173 668 (357 sectional title units). The highest house price sold was R5,5 million for 59 Jan Frederik Avenue, and the highest price for a sectional title unit was R3,09 million in 144 On Dale Lace.
• Northcliff : 200 Properties sold for R494 123 326 of which own title sales was worth R423 113 826 (130 houses) and sectional title was worth R71 009 500 (70 sectional title units). The highest house price sold was R10,5 million for 23 Ethel Avenue, and the highest price for a sectional title unit was R2,38 million for 2 Ridgeview Manors in 18 Stellenbosch Place.
• Maroedal : 217 Properties sold for R461 565 162 of which own title sales was worth R296 951 282 (95 houses) and sectional title was worth R164 613 880 (122 sectional title units). The highest house price sold was R8,65 million for 5 The Close Lane, Saranton, and the highest price for a sectional title unit was R14,249 million for Unit 237, Ventura.
• Ferndale : 343 Properties sold for R378 063 300 of which own title sales was worth R155 138 000 (64 houses) and sectional title was worth R222 925 300 (279 sectional title units). The highest house price sold was 312 Kent Avenue for R15,525 million, and the highest price for a sectional title unit was Unit 7, Mulberry, 369 Pine Avenue for R2,55 million.
• Fairland : 194 Properties sold for R350 540 829 of which own title sales was worth R178 093 000 (64 houses) and sectional title was worth R172 447 820 (131 sectional title units). The highest house price sold was 202 Kessel Street for R4,8 million and the highest sold price for a sectional title was R6,75 million for Unit 40, Fairbridge, 6 Danielle Street.
• Blairgowrie : 171 Own title properties sold for R340 486 502. No sectional title property sold during 2023. The highest house price achieved was R14,9 million for 7 Denise Circle.
• North Riding : 222 Properties sold for R331 129 260 of which own title sales was worth R199 185 260 (111 houses) and sectional title was worth R131 944 000 (111 sectional title units). The highest house price achieved was R2,8 million for 5 Blandford Villas, and the highest price for a sectional title unit was R2,875 million for Unit 92, Baliza.
• Linden : 134 Properties sold for R308 446 232 of which own title sales was worth R234 814 232 (87 houses) and sectional title sales was worth R73 632 000 (47 sectional title units). The highest house price achieved was R5,4 million for 7 Second Avenue, and the highest price for a sectional title unit was R3,4 million for Unit 1, Bagatelle, 78A Fourth Avenue.
• North Riding AH : 125 Properties sold for R263 167 250 of which own title sales was worth R38 280 000 (10 house) and sectional title sales was worth R224 887 250 (115 sectional title units). The highest house price achieved was R10 million for 22 Felstead Road, and the highest price for a sectional title unit was R4,27 million for Unit 292, Celebration Retirement Estate 2.
• Noordhang : 178 Properties sold for R238 706 975 of which own title sales was worth R79 906 000 (42 houses) and sectional title sale was worth R158 800 975 (136 sectional title units). The highest house price achieved was R3,5 million for 38 Riverbend Lane, Twin Lakes, and the highest price for a sectional title was R3 594 261 million for Unit 36, Bellcanto ll, 287 Bellairs Drive.
• Olivedale : 111 Properties sold for R192 480 530 of which own title sales was worth R149 900 567 (60 houses) and sectional title was worth R18 000 000 (5 sectional title units). The highest house price achieved was R5,25 million for 4Q Fish Eagle Boulevard, Olivewood Estate, and the highest price for a sectional title unit was R3 million for Unit 42, Olivedale Retirement Village.
• Boskruin : 84 Properties sold for R179 214 567 of which own title sales was worth R114 625 000 (14 houses) and sectional title was worth R29 314 000 (24 sectional title units). The highest house price achieved was R5 million for Erf 1094 Ixia Creek Estate, and the highest price for a sectional title was R2,15 million for Unit 22 Sunset Lodge.
• Sundowner : 122 Properties sold for R177 129 000 of which own title was worth R91 244 000 (48 houses) and sectional title was worth R85 885 000 (74 sectional title units). The highest house price achieved was R3,15 million for 23 Taurus Street, and the highest price for a sectional title was R2,1 million for Unit 26, Ezulweni, 1273 Puttick Avenue.
• Northwold : 147 Properties sold for R169 569 000 of which own title sales was worth R79 569 000 (45 houses) and sectional title was worth R90 000 000 (102 sectional title units). The highest house price achieved was R3 million for 61 Dirk Road, and the highest price for a sectional title unit was R2,275 million for Unit 18, Rosemary Lane.
• Bromhof : 121 Properties sold for R156 779 000 of which own title sales was worth R85 654 000 (56 houses) and sectional title was worth R71 125 000 (65 sectional title units). The highest house price achieved was R2,82 million for 38 San Marco, and the highest price for a sectional title unit was R2 150 000 for Unit 9, Whitehorse Mews.
• Chartwell : 124 Properties sold for R154 496 600 of which own title sales was worth R46 980 000 (13 houses) and sectional title was worth R107 516 600 (111 sectional title units). The highest house price achieved was R5,5 million for 60 Hampton Court Road, and the highest price for a sectional title unit was R2,059 million for Unit 117, Tocara.
• Jukskeipark : 75 Properties sold for R137 225 999 of which own title sales was worth R119 652 000 (56 houses) and sectional title was worth R17 573 999 (19 sectional title units). The highest house price achieved was R3,8 million for 5 Sirkoon Street, and the highest price for a sectional title unit was R1,459 million for Unit 288, Riverglades Estate.
• Jackal Creek Golf Estate : 124 Properties sold for R123 904 612 of which own title sales was worth R57 920 212 (81 houses) and sectional title was worth R65 984 400 (84 sectional title units). The highest house price achieved was R11 million for Farm 191-65, IQ Jubilee Str, Zandspruit, and the highest price for a sectional title unit was R1,065 million for Unit 23, Gleneagles.
• Robindale : 69 Properties sold for R104 469 500 of which own title sales was worth R70 585 000 (30 houses) and sectional title was worth R33 884 500 (39 sectional title units). The highest house price achieved was R4,55 million for 11 Cornelia Street, and the highest price for a sectional title unit was R1,4 million for Unit 2, Sherwood Gardens, 28 Sheriff Road.
• Johannesburg North : 40 Properties sold for R90 425 000 of which own title sales was worth R 87 930 000 (38 houses) and sectional title was worth R2 495 000 (2 sectional title units). The highest house price achieved was R21,5 million for 8 Market Street, and the highest price for a sectional title unit was R1,275 million for Unit 25, Nonsa Court.
- Present & Future Developments To Influence Randburg Residential Property Market:
3.1 Investment Potential
Randburg’s residential property market is healthy, as it offers value for money (relative to the adjacent Sandton area), diverse housing options, investment potential due to a healthy rental demand, and a good suburban lifestyle close to all amenities.
All life stages or lifestyles are catered for in Randburg – from first-time buyers to families looking to upgrade, or older people looking to downgrade to a smaller property.
The strong rental demand in Randburg is fuelled by its proximity to universities and schools as well as major business hubs, including Sandton and Rosebank, making it attractive for families, professionals, younger workers, and students who are looking for both convenient and more affordable housing options in good neighbourhoods.
Infrastructure upgrades, such as road expansions, public transportation improvements, and urban renewal initiatives all ensures Randburg’s appeal as a long-term desirable residential and investment destination in Johannesburg.
3.2 Developments
A variety of residential estates are at present being built in the development nodes inside the urban edge of Randburg - adding a choice of different property types and price ranges to the Randburg residential market.