Page 13 - Kyalami Estates Issue 3 Aug 2024

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VA
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MU
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BU
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CI
PA
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Villa Sante
Ekurhuleni
6
Bedfordview
1057
R 4 325 000
Gauteng
1020
R 4 300 000
Kyalami Estates
Gauteng
City of Johannesburg
1058
Kyalami Estate
1059
Ekurhuleni
R 4 300 000
Gauteng
111
Sunward Park
Ville De Fleur Estate
1060
Gauteng
Benoni Country Club
The Wedge
R 4 300 000
Ekurhuleni
35
City of Johannesburg
Amberfield
Gauteng
1061
Morningside
32
R 4 30 0 000
Western Cape
Melkbosstrand
City of Cape Town
31
1062
Atlantic Links Estate
Gauteng
1063
19
Bredell AH
Ekurhuleni
Molenhoff Country Estate
R 4 300 000
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Total (R'000 000)
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Design
Kyalami Estates Corporate Brand Bible  R O V I N CE  R 4 300 000 A T I O 
3.0 Folder (Inner)
EDITORIAL
To sum up, and judging by the macro-economic trends, we the first seven months of 2024, being only 22. In 2021
are through the trough and on the path to recovery in the and 2022, this would have been close on 40 over the same
property market. period, of which 15-20 would have been in the R3-4m range
in any event. So we just haven’t had as many sales above
At a more micro level, how has Kyalami Estates (KE) stood the R4m mark compared to previous years. The upside of
up to the market conditions? Unfortunately, not great. The this statistic is that many KE sellers who are in the R4m plus
graph shows the average median sales price of Kyalami range, have simply not been prepared to sell at discounted
Estates homes (Lightstone 5 Aug 2024). Our average sales prices, i.e. sticking to their believed value and seeing out the
values recovered nicely after Covid, but in the first seven downturn.
months of 2024,they were down approximately 19% from
2023, with an average median sales price of R3.65m. No doubt KE prices have been hit by the downturn, but as
Tr ends
Median Price (R'000) ● F R E E H O L D ● S E CT I O N A L S CH E ME ● VA CA N T L A N D
A TIME TO BUY, SELL OR HOLD
IN KYALAMI ESTATES?
B Y ROB HUD SON, RE/MA X ONE I always like to compare KE with Fourways Gardens as the the economic drivers improve, so will buyer budgets, and I
two are very similar estates, and were started around the have no doubt we will soon see a return of more buyers in
same time by Anglo Props. Both experienced more recent the R4m mark plus.
growth in competitive estates (e.g. Waterfall for KE and Steyn b ro g h t to y o b y
u
u
City for Fourways Gardens). As anticipated, Fourways Gardens In conclusion, is it a time to buy, sell or hold in Kyalami
has shown a very similar price trend to KE over the last three Estates? If you are in the market for a second home as an
years, with a 15% drop in median sales price in 2024. So, we investment property, the time is ripe to buy a good quality,
are not unique. Pa ge 3 of 5
3-to-4-bedroom KE home in the R3-4m price range. The
prevailing rental market is buoyant, plus you will be set
Getting back to KE, why this sizeable drop in average home for asset appreciation. If you need to sell, patience may
sales price? Firstly, and what I believe is key, is that the be required. The market is turning and from a seasonal
prevailing figure does not mean the average value of KE perspective, the end of winter is also the worst time of the year.
homes across the board has dropped by around 19%. Finally, ‘hold’ is always a great option in KE.
Rather, for those homes that have sold in 2024, this has
been the average price paid. It is a subtle but significant As a property practitioner, you ‘holding’ is not in my short-
difference, and although I am certain we have lost some term interest ☺, but we live in an exceptionally well-run
value in line with the national trend, it is nothing close to estate that offers a secure lifestyle value proposition that is
19%. For me, the key statistic that brings the KE market second to none. This is why I believe our property values will
status into context is the lower sales volume of homes over always bounce back and remain strong over the long term.
“ “
We are through the trough and on the path to
recovery in the property market

C ONT A CT DET AILS
Rob Hudson of RE/MAX ONE
Tel: 083 309 0760 email: rob@remaxone.co.za
Kyalami Estates • CONNECT • Issue 3 • 2024 11