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Prices on the rise in peaceful Lonehill
Category Property News
When it was established in the 1970s, the northern Johannesburg suburb of Lonehill quickly became known for country-style living around the famous Lonehill Kopje and nature reserve at its centre; and it still boasts beautiful parks and green belts as well as a strong sense of community.
Indeed, says Sally Andrews, the area specialist for Sotheby’s International Realty, the area’s most appealing feature for residents and prospective buyers is the “Lonehill lifestyle” – a safe and secure lifestyle centred around the Lonehill Shopping Centre, which offers good restaurants as well as a Nedbank branch, a Virgin Active gym and convenient shopping at Woolworths and Pick ‘n Pay.
“The area also has a very strong residents’ association and an affiliation with Fidelity Security that ensures secure living. A specialised emergency medical response service is also available to residents at low cost.”
Andrews, who has lived in Lonehill herself for the past 25 years, says the majority of residents are between the ages of 36 and 64, although there is a bigger contingent of younger families buying into the area now, with the local Crawford College being an additional strong attraction.
Other excellent public and private schools nearby include the Bryanston and Bryandale primary schools, Bryanston and Fourways high schools, St Peter’s, St Stithian’s, Brescia House and the American International School.
She says that homes generally sell for between R1,85m and R5,5m and that buyers believe that Lonehill offers much better value for money than surrounding lifestyle estates and areas such as Dainfern, Fourways Gardens and Cedar Lakes.
“There is, however, more demand than supply of homes for sale in the area at the moment, and prices seem to be on the increase, reflecting up to 10% growth per year, so if there are any homeowners thinking of selling now would be a good time.”
Meanwhile, she notes, there is also high demand for sectional title rental properties in Lonehill, and buy-to-let investors can currently expect monthly rentals equal to about 0,7% of the value of their units.
Other local shopping centres include Pineslopes and Leaping Frog, while the Fourways Mall, Fourways Crossing and Montecasino are all within easy reach, as are the commercial nodes of Fourways, Bryanston, Sandton and Randburg.
Author: Sotheby's International Realty