School suburbs emerge as property investment hotspots
Category News
Proximity to schools has become a top driver of demand in neighbourhoods while rising traffic has added further to the demand for these suburbs. As a result, the school-belt suburbs have been some of the best performing areas this year.
Homes close to schools have continued to achieve premiums of around 20%-40% according to Samuel Seeff, chairman of the Seeff Property Group.
"We have seen a trend of buyers with children migrating to areas with good schools and child-care facilities. While there is year-round demand for homes close to good schools, the demand usually picks up ahead of the new school and varsity year as parents look to get closer to their schools of choice," says Seeff.
Some of the best performing school suburbs include:
Cape Town
Newlands & Rondebosch
Newlands and Rondebosch offer access to 18 top schools including Bishops, Rondebosch Boys, Westerford, SACS, Rustenburg Girls, Sans Souci and Herschel Girls. It is also home to the University of Cape Town (UCT) which attracts high demand for student rentals. Family houses range from R8m to R12m close to Bishopscourt, otherwise you can find houses for R4m to R8m.
Wynberg & Claremont Upper
Wynberg and Claremont Upper are an excellent choice for family buyers and offer more affordable price points compared to Constantia Upper and Bishopscourt, yet residents enjoy excellent access to the wine farms and Main Road CBD.
Family houses range from R4m to R8m, but can to R10m-plus depending on the location and property
Fresnaye & Camps Bay
Both of these suburbs rank in the top ten in the country and offer access to a choice of schools for family buyers including Herzlia (located in the CBD), Reddam House in Green Point, Camps Bay and Sea Point and a French School (CBD and Sea Point).
Family houses range from R12m to R22m in Fresnaye and Camps Bay.
Higgovale & Oranjezicht
Easy access to Herzlia and the CBD have contributed to the rise in demand for family houses in Higgovale and Oranjezicht which has boosted price growth over the last five years with Higgovale now ranking in the top ten suburbs in the country.
Family houses in the City Bowl range from R5m to R15m on average.
Sunningdale & Parklands
The areas area ideal for families as there are about 20 top schools in the area including private schools such as Parklands College, CBC St John's, Elkanah House, Curro Private School (Parklands North) and the new Rallim.
Family houses close to a top school range from R1.8m to R2.8m.
Welgedacht & Durbanville
These areas offer excellent schools for buyers looking to settle in Cape Town's Northern Suburbs. Family houses are a big attraction as they offer more space. The area is also renowned for its excellent amenities and centrality. Family houses close to schools range from R4m-R8m on average.
Paarl & Stellenbosch
Paarl, Stellenbosch and Worcester boasts excellent schools such as Paarl Boys', Paarl Girls', Paarl Gymnasium, La Rochelle and Boland Landbouskool. Paarl is renowned as an incubator for rugby and has produced many Springboks.
Stellenbosch includes the popular Paul Roos (another rugby school) along with a Waldorf School and Rhenish Girls' High as well as Stellenbosch University which boosts demand for student housing.
Family houses in Stellenbosch range from R2.8m to R5.8m to around R14m close to an exclusive school. Paarl ranges from R1.8m to R2.8m on average to around R6m close to a top school.
Pretoria
Waterkloof, Lynnwood & Menlo Park
Pretoria University and Onderstepoort (top veterinary school), the well-known Afrikaans Seuns and Meisies High Schools and many other top schools make popular with family buyers.
Expect to pay R2.8m to R3.2m for a family house in Lynnwood and Menlo Park. Waterkloof and Waterkloof Ridge family houses range from R3.4m to R3.7m.
Johannesburg/Sandton
Bryanston, Atholl & Hurlingham
Close proximity to the Sandton CBD and access to top schools such as Crawford, Redhill, St Davids, Roedean, Brescia House, KES (King Edward), St Johns, St. Stithians and the Waldorf School (in Bryanston) make these top family suburbs.
They also offer easy access to Wits and UJ as well as Gibbs and Henley Business Schools. Although family houses range from R2m to R12m, expect to pay upwards of R6m to R20m close to schools depending on the area and property.
Durban
Upper Highway
The best private schools in KZN are all in the Upper Highway area. These include Kearsney College, St. Marys, Highbury Private, Curro, Thomas More College and Waterfall. There are also multiple new schools in the Waterfall area with Curro Primary and High Schools welcome additions.
Family houses in Hillcrest and Kloof range from R1.5m to R2.45m and in Waterfall from R1.4m to R1.9m.
Wembley & Clarendon (Pietermaritzburg)
These elite northern suburbs offer family homes on large established gardens and monitored neighbourhood security. They are ideally situated to prominent schools such as Hilton College. There are also several pre-schools, creches and schools along the Roberts Road route.
The University of Kwa-Zulu Natal (UKZN) and the private Varsity College are the two tertiary institutions serving Pietermaritzburg and the surrounds. Expect to pay around R1.2m-R2.5m for a family house
Author: REIMag
