The average property prices for Parkhurst have remained fairly stable at R3 million over the last 5 years as can be seen below (Graph A). Early sales in 2019 have shown a slight decrease to R2,8 million average, but this could be skewed due to data only showing the 1st quarter sales. Overall however a steady increase in growth has been achieived in the suburb over a 10 year period with an average house price of R1,750,000 in 2008.
Parkhurst remains an attractive suburb for young professionals as well as older couples who are downscaling. There aren’t many suburbs in Johannesburg that can offer the same attractive lifestyle as Parkhurst, so despite economic challenges we do still see healthy demand levels in this suburb.
Table B (The Parks National Ranking) shows us that Parkhurst remains in the top 500 suburbs in South Africa. Neighbouring suburbs are also starting to climb the ranks such as Greenside and Emmerentia, proving that a healthy property market remains in the Parks & surrounding areas. The only downside to Parkhurst home owners will be the choice the buyer has when looking for a home, which is limited. In the past Parkhurst was the ‘place to be’ for new home owners whereas now Greenside, Emmerentia, Victory Park and Linden are also viable options.
Table B – National Suburb Rankings