Randburg And Sandton Sales Stats 2020

Regardless of what life stage you are in currently, property will always play a part. Whether you’re a tenant or homeowner there is always a future possibility of moving into a different category, namely: Buyer Seller Tenant Landlord.

 

Either way Etchells & Young have got you covered. Below are some property sales stats that we have compiled for the period of November 2019 – October 2020. Based on the areas we specialize in, including Sandton and Randburg.

 

The stats are taken directly from Lightstone but the reasons for the stats are based on our expertise and experience in the industry. 

 

The Greater Sandton Area

Buyers

42% = 18-35 years

41% = 36-49 years

12% = 50-64 years

4%   = 65+

Above we can clearly see that more than 80% of the Buyers in Sandton over the last 12 months fall into the 18-35 and 36-49 age brackets. These buyers are likely moving into the area or investing for buy-to-let purposes. The reasons for the move, among many, is likely (according to our research):

  • Upscaling
  • Starting to work in the area
  • Starting a family
  • Moving closer to work
  • Looking to be a part of the elite lifestyle that Sandton offers
  • Good return on investment
  • The perception of less crime in the area

Sellers

12% = 18-35 years

43% = 36-49 years

25% = 50-64 years

19% = 65+

With the Sellers in the area we see something quite different. 43% of sellers in Sandton fell into the 36-49 age bracket and 25% into 50-64 age bracket. Some of the main reasons we were able to establish are the following:  

  • Downscaling due to financial pressure
  • Immigrating (moving to another country)
  • Semigrating (moving to another province or city)
  • Larger family homes more affordable in other areas
  • Downscaling due to: children leaving the nest/divorce/death of a partner/loss of income

Ave Prices

Freeholds in Estates: R3 350 00

Sectional Title in Estate: R2 069 000

Sectional title: R1 492 000  

Freehold: R3 712 000

 

Transfers in this period (Nov 2019 - Oct 2020):

Freeholds in Estates: 1531 

Sectional Title in Estate: 309

Sectional title: 3207

Freehold: 544

Total: 5591


The Greater Randburg Area

Buyers

42% = 18-35 years

40% = 36-49 years

12% = 50-64 years

5%   = 65+

Here again we can see that the 18-49 age bracket made up over 80% of the buyers in the Greater Randburg area.  However, the reasons somewhat differ in comparison to Sandton.  Due to the reasonable prices in this area first-time buyers find it much easier to get their foot in the property door. Some of the factors driving young buyers to this area:  

  • Affordable family homes
  • Just married or starting a family
  • Investment opportunities for middle income earners
  • Downscaling due to financial pressure and loss of income due to Covid
  • Upscaling – moving into more affluent areas

Sellers

13% = 18-35 years

47% = 36-49 years

23% = 50-64 years

17% = 65+

Similarly to Sandton, the majority of Sellers fell into the 36-49 age bracket. Strangely enough the reasons for buying here have a close correlation to that of the reasons for selling.  

  • Upscaling to more secure estates or complexes in safer areas
  • Moving closer to private/specialised schools
  • Semigration (moving to another city)
  • Achieving a fair and market related price for their property
  • Immigration

Ave Prices

Freeholds in Estates: R1 987 00

Sectional Title in Estate: R935 000

Sectional title: R1 017 000  

Freehold:R1 398 000

 

Transfers in this period (Nov 2019 - Oct 2020):

Freeholds in Estates: 885 

Sectional Title in Estate: 176

Sectional title: 3207

Freehold: 2406

Total: 6674

 

Search for an article

News Alerts

Receive email alerts for news articles matching your criteria.