Saturday, 11 March 2017 10:33

Gallo Manor one of Joburg's best kept secrets - Property market remains upbeat in sought after Sandton suburb

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One of Johannesburg’s best kept secrets is Gallo Manor, a leafy residential suburb situated just minutes from the Sandton city centre.

Gallor_Manor_R2_85_million

This is the view of Richard Smith, manager of Pam Golding Properties Hyde Park office. Gallo Manor is an established suburb situated between Morningside and Woodmead in the very heart of Johannesburg’s north.

“Family-sized homes on substantial stands of between 1 200 and 2 000 sqm with established gardens are typical of Gallo Manor, and these properties tend to be more reasonably priced than many other suburbs closely situated to Sandton and the main arterial highways that surround the city of Johannesburg,” adds Smith.

“The fact that Gallo Manor is so well situated, and homes here are considered to be more affordable, means that the local residential property market remains highly active and demand for residences is ongoing,” he adds.

According to Smith, an entry level home or a sectional title townhouse in Gallo Manor can fetch from R2.2 million, while a well positioned four- or five-bedroom property in good condition may be marketed for up to R3.8 million.”

The great majority of the homes in Gallo Manor are owned in freehold with only some five percent being sectional title properties. The latter are in short supply and are therefore invariably quickly snapped up when they come to market, particularly as they are felt to offer greater affordability.

“All of the residences within the suburb are situated within boomed off areas affording families a compelling outdoor all-South African lifestyle in which they are able to jog, ride bicycles, walk their dogs and enjoy a strong sense of community.

“Each of these boomed sub-sections of the suburb has its own highly organised homeowners association, all of which are active within their communities, and ensure the smooth running of their particular neighbourhoods.”

Pam Golding Properties agents and area specialists Andelle Aylward and Louro van Niekerk say that an added attraction of Gallo Manor has been the fact that residential properties here have enjoyed good long- and medium-term capital growth but have nevertheless remained affordable.

The average median price of freehold property in the suburb climbed from R2.150 million in 2012 to R2.585 million in 2016, an increase of some 16.82 percent, according to residential property research company Lightstone. House price growth was slightly flatter in 2016 compared with 2015, the average price in the area falling marginally by 0.385 percent as the economy slowed last year.

“The area has a good mix of older homes as well as newly renovated and modern family homes. Properties in the area are therefore attractive to a wide spectrum of buyers including first-time buyers, keen renovators, as well as those looking for a modern family home. The local property market is therefore highly active and has enjoyed a strong start this year,” notes Aylward.

According to Lightstone, 87 percent of recent buyers who purchased during 2016 are from the young adult to the middle age groups, with nearly 50 percent falling between the age of 35 and 49 years. “Although there is a spread of buyers across all age groups, Gallo Manor is popular with younger, as well as more established, families of professionals, executives and business people working within the greater Sandton area,” observes Aylward.

“They appreciate the fact that, while the suburb is a park-like sanctuary, it is situated close to their places of work, the Gautrain station in Sandton, as well as a number of major road networks and highways. The latter not only provide easy access to the entire north of Johannesburg and the numerous facilities and services on offer there, but also to all of the major centres of Gauteng.”

Several outstanding schools catering to children of all ages are situated nearby including Redhill School, Crawford College in Benmore Road, King David, Wendywood High School, Greystone Preparatory School, the Sandton Montessori pre-school, and the French School Lycée Jules Verne, to name just a few. Van Niekerk says that this further enhances the appeal of the area.

“Gallo Manor residents have some of the best shopping and entertainment facilities and fine restaurants at their fingertips in nearby Sandton, South Africa’s financial capital, as well as in numerous other centres in the north. The quality private healthcare facilities Morningside Clinic, Netcare Sunninghill Hospital and Sandton Clinic are all easy to reach, as are a number of places of worship,” adds Van Niekerk.

“Many residents go to the Ernest Ullman recreational park in Morningside Manor to enjoy the great outdoors, while the Johannesburg Country Club offers a world class golf course, as well as a range of other sporting and social activities.”

“Gallo Manor offers a suburban lifestyle that is both convenient and picturesque, and the family homes that are available here remain much prized. These factors are likely to assist in supporting the local residential property market in the area well into the future,” concludes Van Niekerk.

Last modified on Saturday, 11 March 2017 18:16

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