Ricochet News

Dainfern shines at the heart of Joburg’s hot ‘New North’

Jun 29, 2017
Dainfern shines at the heart of Joburg’s hot ‘New North’

Take a drive down William Nicol Drive in Johannesburg these days and the further north you go, the more cranes and construction work you will see, thanks to an explosion of property development in the metro’s ‘New North’.

“There are literally billions of rands going into new commercial and residential developments in this region, as well as major upgrades to the local roads and other infrastructure,” says Brian Falconer, co-owner of the local Chas Everitt International franchise, “and in the middle of it all lies the iconic Dainfern Golf Estate, where we have seen a huge appreciation in property values over the past year.

“We were recently mandated to market the two most expensive properties ever listed on the estate, at R28m and R30m, and one of these is already under offer. Meanwhile astute investors are also buying up older Dainfern homes at prices from R5m to around R8m and then quite readily spending another R15m to R20m to upgrade and modernise them, or in some cases to demolish them and build a completely new home.

“In other words, 25 years after the estate was established, Dainfern homes have once again become very ‘hot property’ – and we believe are likely to become even more sought-after as the pace of development in the New North speeds up.”

The most high-profile of all the new developments in this area, he notes, is of course the massive Steyn City lifestyle estate, where the developers have reportedly already spent around R7bn on infrastructure and facilities - including almost R1bn for a major upgrade of William Nicol – and where the value of stand and apartment sales has already topped R1,5bn.

“Then there’s the R2,5bn upgrade and expansion of the Fourways Mall to create a new 170 000sqm super-regional retail precinct at the intersection of Witkoppen Road Boulevard and William Nicol Drive, which is now the gateway to one of the fastest-growing areas in SA.”

Indeed, says Falconer, it is envisaged that the extended mall and its surrounding commercial developments will become the fully-fledged CBD of the New North – a city-size area roughly bounded by the N14 bypass to the north and the N1 bypass to the south, and by Malibongwe Drive to the west and Woodmead Drive to the east.

“Within the next 10 to 20 years this area will also be served by the next two stages of the Gautrain development, which will link Sandton to Honeydew/Cosmo City and then Ruimsig to Samrand. And it already has its own airport, Lanseria, where the owners have spent millions of rands over the past few years on upgrading the runways, roadways, passenger terminal and parking facilities.