Morningside tops list for most searched suburbs

The RE/MAX National Housing Report for the fourth quarter of 2019 revealed that Morningside in Sandton was the most searched for suburb on its Southern African website for the second quarter in a row.

According to Frikkie van Eeden, owner of RE/MAX Advantage, this comes as no surprise as the area caters for just about everyone. “From the CEOs leading the business giants in Sandton to the entry-level buyers trying to climb the corporate ladder. With around 850 properties currently on the market, buyers have a huge variety of options in every price bracket,” he said.

“A one-bedroom, lock-up-and-go sectional title apartment starts from R800 000. On the other end, buyers can purchase a world-class penthouse with sensational views and top of the range finishes for up to R70 million. Clusters and freehold houses start from approximately R3.5 million and up. The area has proved to be a superb investment over the years, with many investors choosing ‘buy-to-let’ properties in the area,” explained Michelle Shane, one of RE/MAX Advantage’s leading local real estate experts.

Lightstone Property added that the suburb appears to be attracting younger buyers. According to the property company, 38 per cent of buyers last year were under the age of 35 and the majority of owners (39 per cent) hold onto their homes for 11 years or more – highlighting the long-term appeal of the suburb.

“Buyers who purchase in Morningside will have easy access to highways, Sandton City, and Gautrain station. Many of the best schools in the country are also on their doorstep,” Shane said.

Van Eeden noted that properties in the suburb are picked up for ‘seriously’ good prices with very good rental yields and the possibility of good capital growth. “When the economy is performing well, the capital growth of the home spikes.

“In the tougher times, you have the massive workforce of Sandton looking for a place to rent. In my opinion, long-term investment buyers should jump on the opportunity of the current ‘buyer’s market’ we are experiencing.”

Adrian Goslett, regional director and CEO for RE/MAX of Southern Africa, believes that the housing market will remain more or less stable this year, reflecting marginally high rates of house growth and high numbers of transactions.

“I believe the luxury market will continue to feel the pinch within this tight economy and the majority of transactions will continue to fall within the affordable price ranges. House price growth is expected to remain moderate until we see a turnaround in our economic outlook.”

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