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Jul 21, 2008:
Ferndale is situated outside the Randburg CBD and is close to all the main businesses and entertainment areas.
It is only 15km from Lanseria and almost 50km or 35 min away from OR Thambo International Airport on a good traffic day.
Ferndale is quite central with roads connecting to Malabongwe Drive, Republic Road and William Nicol Drive. It is situated close to the N1 and has relatively quick access to anywhere. Unlike the elite suburb of Sandton, it can easily be reached by following Republic Road, although this route is best-used outside peak traffic hours.
"Sales are directly linked to the growth of businesses in this area as bank staff, TV personnel and insurance brokers are all clamouring for Ferndale," said Greg Wilson, representative for Chas Everitt in the Ferndale area.
This suburb does have a humble charm that gives it and other tree-lined northern suburbs their own appeal. This part of the city is packed with shopping opportunities, with Montecasino, Cresta Shopping Centre, the Fourways CBD and the Coca Cola Dome within reasonable driving distances. "It's a very central suburb, located near to several shopping centers, schools and major routes," said Francois du Buisson, head of marketing for Brightwater Commons, Ferndale's most popular recreation area.
Located in the heart of Ferndale, the Brightwater Commons was formerly known as the Randburg Waterfront. It is one of the better known shopping centers in Johannesburg and is designed around the concept of an urban shopping space. "We have a very loyal following of patrons, our restaurants, Pick and Pay and the market place stimulates a lot of loyal support," says Du Buisson.
For the family-oriented buyer, there are a number of schools to choose from, the closest being Ferndale High and the Swiss Hotel School in the area. "The area is very family friendly, and there are a lot of schools in a three to four kilometre radius," adds du Buisson.
Johannesburg's Botanical Gardens and Emmarentia Dam are not far from Ferndale and offer some sanity from the city buzz. Emmarentia Dam is an obvious choice of venue for homeowners to take their dogs on a well-deserved adventure.
Ferndale is an established area and properties are generally large. One acre stands are still available in the area, which could be important to buyers considering property as an investment. "There are homes in Ferndale that are more than 50 years old," comments Wilson.
"There are only a few reasons why the owner of a property in Ferndale would move and it's not affordability, as most owners have low bonds and have been there for more than 20 years" he says.
Freehold properties in the current period of February 2008 to March 2007 had 171 registrations against the previous period's 191 registrations. "Emigration, divorce and death may account for the handful of freehold registrations at the moment," says Greg. Average property prices are in the R1,8m range, and have increased by around R400k in the past year.
"Your cheapest freehold Ferndale home fetches over R1,2m, and sectional title can be bought for as little as R400k," says Wilson.
Sectional title properties are competitive with maximum prices up to R1,4m, while the freehold sector's can range up to the R4m mark. Where minimum prices are concerned, sectional title properties are a lot more affordable for those homeowners at entry level. The averages sectional title price is R350k compared to freehold properties with an average price of R700k.
According to the Deeds Office data from Nov/Dec 2007, more than 115 sectional title properties were registered. "There are a lot of new sectional title developments being registered all the time," says Wilson. He also adds that sectional title accounts for at least 31% of all sales in the area and freehold registrations only account for 1,4% of the market share.
The sectional title market is showing strong sales with 590 registrations from March 2007 to February 2008, with an average price of R557k. Since the implementation of the National Credit Act (NCA), sectional title has benefited with more sales during this period than the previous twelve month period. "Affordability, convenience and generally easy traffic have made Ferndale a sought-after area, especially for sectional title," says Wilson.
"This area has a nice environment with classic houses and interesting combinations of townhouses and clusters," said du Buisson.
"It's certainly bargain time for both sellers and buyers, as sellers may be asking a lower price than expected but when they buy elsewhere they will ultimately be saving huge amounts of money on their new home," says Wilson. – Zenta Roets