Glenhazel is one of the most sought-after Jewish neighbourhoods in Joburg. It has mainly older, but solidly built properties which have retained good value over time, evidenced by the high median price for the area.
Zanele Ncube of Acutts Estate Agents puts the average home price for Glenhazel at R3.5million, citing statistics from property data company Lightstone.
She says R6.25m was the highest price paid for a property in the suburb in the last three months, underscoring the rude health the property market seems to be in with an under-performing market nationally.
Even in Glenhazel itself, properties have not been moving as quickly as one would expect, with some properties, especially those in the upper segment bracket, staying on the market for much longer, she says.
The buildings are quite solid and of a similar quality to those you find in Orange Grove and Highlands North. You will not go wrong when investing in Glenhazel. - Zanele Ncube, Acutts Estate Agents
Picture: Supplied
“The top-end properties tend to stay a little longer on the market, say a year or even two years. But they eventually do get sold, although normally at a lower price than initially anticipated,” she notes, adding that in most cases that may mean sellers dropping the price by 20%, the point at which the market may begin to “respond positively to the sale”. This can be put down to the prevailing buyer’s market, argues Ncube.
Considering that sales have averaged R2.8m for the most part of this year, Glenhazel is seen as a vibrant area where the size of a freehold property can ultimately determine purchase prices, according to Ncube.
“Most properties are not less than 1200m² and the buildings are considerably old, keeping in mind the fact that the suburb was established in 1950. The buildings are quite solid and of a similar quality to those you find in Orange Grove and Highlands North,” says Ncube.
Most of the properties to have exchanged hands so far this year are sectionals and priced under R1m, and there are few, if any, freehold homes that can be put on sale at that price, according to Ncube. She says R300000 was the minimum paid for a property in the past three months.
Ncube also notes that most more affordable properties are well-suited to young home buyers.
“Glenhazel has only a few developments well under five years old, meant for young adults, the recently married and those looking to start a family.
As these are so few, they haven’t made much of an impact on the real estate market although they may have increased the purchase opportunity in Glenhazel.”
She describes Glenhazel as an “awesome neighbourhood” which has great residents and quite safe.
“Glenhazel has an active security set-up, including the rapid response company CAP (Community Active Protection) which is reliable and proactive,” she says.
“Get well-acquainted with your neighbours. That way they will look out for you and you can return the favour. Other than that, any property in Glenhazel is a good buy.”
Fairvale is a bit more affordable.
Yishai Basserabie’s favourite places and things to do
Glenhazel has a largely Jewish community where there’s a lot happening relating to the Jewish way of life. There are synagogues, Jewish schools and kosher restaurants where you
can eat traditional foods. The people are friendly and there’s a feeling of community. Most residents know their neighbours and people support one another. - Yishai Basserabie, resident
Picture: Supplied
1 Frangelicas
An awesome restaurant that sometimes gets busy. The friendly staff are great on personalised service. 2 Long Avenue, Glenhazel. 087 701 9909
Frangelicas is a popular restaurant and always busy. Picture: Supplied
2 Burger & Brew
It’s a spin-off of a butchery which has been part of the community for decades, run by people from the community. Good food and a good vibe. 53 Ridge Road, Glenhazel. 079 055 9331
3 SOSUSHI
Casual, vegetarian options, groups. 9 Northfield Avenue, Kingswood Centre. 011 440 2156
4 Local park
It’s a popular spot where youth like to congregate on Saturdays during the Sabbath, when we can’t drive. Study Road, Glenhazel.
5 Yeshiva College
It is the centre of life in the community. It has netball and tennis courts and synagogues. Long Avenue and Ridge Road, Glenhazel. 011 640 9900
6 Schaffler’s Nursery & Under the Trees
Breakfast, cosy. 28 Johannesburg Road, Lyndhurst. 011 786 0323