Primrose Property Market Report

Young buyers just entering the property market are finding excellent value in certain pockets of Primrose in Germiston.

Small full title homes in Primrose on generous stands are selling here at prices from around R500 000, she says, and although most of these need renovation, this seems to be a task that the new young owners are relishing.

Many of the two-bedroom, one-bathroom homes currently coming to market are being sold by people who have lived in the area for decades and are now on the point of retirement. And now the whole area is benefiting from a rejuvenation, with those homes that have been renovated in Primrose proper selling at prices of R650 000, and those that have been renovated in the pretty adjacent suburb of Gerdview now reaching selling prices of up to R900 000.

Larger renovated homes in Primrose East, below Pretoria Road, also offer good value. Typical three-bedroom, two-bathroom homes with modern kitchens, large dining rooms and lounges and entertainment areas are available at prices from R850 000 upwards.

Prices here have been depressed because of the proximity to an informal settlement, but that while many owners are now letting their properties, buyers with a keen eye for value and future price growth opportunities are not deterred.

Similar homes in the sought-after Sunny Ridge area achieve prices of up to R1.3 million, which is a good indication of future possibilities.

Meanwhile, upmarket homes in School Road, 5th Avenue, Koedoe Street and Northridge Road in nearby Sunny Ridge are being targeted by buyers relocating from neighbouring Bedfordview because of considerable savings in monthly rates and taxes.

Properties on the ridge offer extraordinary views and many homes offer wrap-around balconies to make the most of the view. A home in Northridge Road currently on the market at R2.5 million, for example, offers five bedrooms with balconies, two bathrooms, 10 lock-up garages, and a pizza restaurant with sweeping views in the 1760 square metre garden.

Buyers from Bedfordview also target state-of-the-art homes in Solheim, where prices reach up to R3. 5 million, and boomed areas in Dawnview, where prices start at around the R1m mark.

The sectional title market here is also lively and young buyers with modest means are able to find good value at prices of between R360 000 and R380 000 for units with one bedroom and one bathroom. Sectional title units in upmarket Solheim are selling at prices from R1,1m, with top prices of up to R1.9 million achieved for penthouses.

For further information call Sheryl Thompson on 082 966 3025 or email bedfordview@everitt.co.za