Midrand – Area review
Midrand in Gauteng has seen exponential growth in recent years. With its mix of both city and country spaces, business opportunities and developments, close proximity to major highways and variety of entertainment, it’s no wonder it has become a popular location.
Situated between the Witwatersrand and Pretoria, Midrand is made up of several suburbs including Beaulieu, Carlswald, Glen Austin, Glenferness, Halfway House, Kyalami, Vorna Valley, Noordwyk, Halfway Gardens, Summerset, Blue Hills, Erand, President Park and Randjesfontein.
Midrand is a complete mix of urban and rural, with large estates home to a number of animals, upmarket urban homes, and a world-class golf course, to animal sanctuaries and even the renowned Kyalami race track. With a number of developments the area has seen large growth over the past 10 years. As businesses flock to the area due to its prime location, and close to major highways and airports, it has become more and more attractive to prospective buyers.
Andrew Pearse, managing director of Platinum Residential in Midrand feels it has something to offer everyone. “Midrand is the centre of the Gauteng megalopolis, offering great accessibility to everything.” He says it’s also very “neutral” territory in that its major growth has coincided well with the New South Africa.” Pearse believes the property market has improved, with many houses being sold that were struggling to sell.
Pearse advises that those looking for property for sale in Midrand, will need about half a million for a two-bedroom townhouse, whereas an average-sized family home will cost between R800 000 and R2 million. Property in upmarket complexes can be priced at anything from R8 million upwards.
In terms of the rental market, there are enough properties to supply demand, and a two-bedroom property will cost around R4500 per month. Pearse reports that there is “an ample supply of rental stock because there was a lot of property investment happening in the early 2000s.”
