Welcome to Randburg; a town in a Gauteng Province that could have easily been known to us by Fairydale, Ego or Zuriel hadn't the current name won a competition that was run to name it. Although the area was inhabited by farmers in the 1850's and there was a major influx to the area between 1928-1934 due to a crippling drought in the Platteland farms, Randburg was only inaugurated as a municipality in 1959.
When gold was discovered in the area and development began, there was confusion amongst the residents as to whether Randburg should be a part of the Old Johannesburg or not but then a majority consensus was the latter.Randburg enjoyed this municipal independence until its administration, alongside its neighbouring towns such as Sandton and Roodepoort were handed over to the City of Johannesburg Metropolitan Municipality in the late 1990s.
The greater Randburg area has many well established and stable suburbs and we see steady turnover in in a well-balanced market with some pressure for more stock. The Randburg property market is seeing an increase of sectional titles in the price range of R450 000 to R750 000 – a response to the shortage of affordable residential stock.
On the commerial property front the new residential developments are bringing more people into the area and encouraging companies to open offices there. Randburg offers good access to Sandton and is a "good area" for start-up companies that didn’t want to over-commit in the first few years, and for call centres seeking lower rent and access to public transport.
Randburg has 134 active suburbs.
Between 2015-10-01 to 2016-09-30:
Compared to the previous year(2014-10-01 to 2015-09-30):
Full Title and Sectional Title sales in Randburg had a combined value of R 7,152,550,972 with a median price of R 935,000 compared to R 9,174,940,128 with the median price of R810,000 for the prior period.
Full Title sales in Randburg had a total value of R 4,828,483,546 with a median price of R 1,499,000 compared to R 6,274,094,728 with the median price of R1,325,250 for the prior period.
Sectional Title sales in Randburg had a total value of R 2,324,067,426 with the median price of R 737,125 compared to R 2,900,845,400 with the median price of R710,000 for the prior period.
For more information regarding property valuations and suburb trends for Randburg visit www.SAPTG.co.za
Today Randburg is undoubtedly a boom town with its economy supported by well developed industrial areas such as Strijdom Park and established businesses such as Multichoice and its associated companies, M-Net and SuperSport. With about 133 suburbs, a plethora of shopping centres and schools in the area, Randburg is definitely a place to look at when considering investing in property.
Situated just about 14km Northwest of Johannesburg and approximately 57km from Pretoria with easily accessible main roads such as the N1, Jan Smuts avenue and Malibongwe Drive, transportation is abundant in Randburg. It takes about 33 minutes to 50 minutes to drive from Randburg central to OR Tambo International Airport during a peak time traffic.