Property

Homes in many of South Africa’s oldest towns are now selling for over R10 million

Kirsten Minnaar • 26 May 2026

Johannesburg’s historic northern suburbs, “The Parks”, are seeing surging demand and rising property values, with heritage homes in areas such as Parkview, Parktown North and Saxonwold attracting high-net-worth buyers.

While traditionally regarded as established, upmarket and predominantly freehold suburbs, the Parks are currently experiencing renewed momentum.

This trend is underpinned by a shift in buyer priorities that has accelerated since Covid, said Pam Golding Properties CEO Dr Andrew Golding.

‘The Parks’ is a colloquial term for Parkhurst, Parkview, Parktown North, and Parkwood, and is often extended to include nearby areas such as Saxonwold, Forest Town, Westcliff, Dunkeld, Craighall Park, Greenside, and Emmerentia.

These are some of the oldest and most established neighbourhoods in South Africa. For example, Parkview was proclaimed more than a century ago in 1906.

Sales of stands to the city’s white middle class began in 1907 when Johannesburg was just over 20 years old.

In the early days, homes had coal stoves, and with no water-borne sewage, waste was collected in the service lanes at night by men in a horse-drawn wagon.

There were initially four shops on Tyrone Avenue, which included a butchery, a dairy and a general store.

The first school was Parkview Government School, now Parkview Junior, which opened in 1917. To accommodate the increasing number of children, Parkview Senior School was opened in 1932.

Golding explained that the enduring appeal of The Parks lies in a rare combination of attributes, including a strong sense of neighbourhood identity, heritage, greenery, centrality, and lifestyle appeal.

Pam Golding’s Gauteng Metro regional head, Mariël Burger, said these suburbs offer something that is becoming more difficult to replicate in newer developments.

“These predominantly freehold areas have a distinct sense of ‘soul’ – something not easily found in centrally located suburbs,” she explained.

“This makes them particularly appealing to buyers seeking permanence and individuality rather than more uniform, estate-style living.”

Why Johannesburg buyers are flocking to The Parks

Burger said buyers in The Parks are looking for space, greenery and tranquillity. However, they do not want to sacrifice social connectivity or proximity to commercial hubs such as Rosebank and Sandton.

These neighbourhoods offer tree-lined avenues, quiet streets and a sense of spaciousness, while still being just minutes from Rosebank, Sandton and major arterial routes, including the Gautrain.

“This balance is a significant drawcard, particularly for families and professionals seeking respite from more congested urban nodes,” Burger said.

“Increasingly, these suburbs are attracting not only local buyers but also international tenants and investors, including corporate clients and buyers from across Africa seeking long-term capital growth or partial residence.”

Notably, Burger said just over 30% of Pam Golding’s buyers in the Johannesburg North areas are from African countries.

“Parkhurst itself has an appealing cosmopolitan but village-like ambience with a diverse range of trendy eateries, from casual bistros to fine dining, coffee shops, and retail boutiques along the well-known 4th Avenue strip,” he said.

“Other popular ‘High Streets’ in The Parks include Tyrone Avenue in Parkview and 7th Avenue in Parktown North.”

In contrast to newer, more uniform developments in Sandton and Bryanston, The Parks offer a layered, authentic residential experience.

Suburbs such as Parkview, Parktown North, Parkwood, Dunkeld West and Saxonwold are characterised by mature gardens and generously sized stands.

Homes often also feature heritage architecture, including Sir Herbert Baker-influenced homes in Westcliff and Saxonwold.

Pam Golding’s area manager for The Parks, Hyde Park and Melrose Arch, Alisha Dippenaar, said families are drawn by accessibility to leading schools, such as Parktown Boys, Roedean, and St John’s.

The areas’ close proximity to key business nodes also remains a fundamental driver of demand. However, daily lifestyle factors, such as tranquillity and walkability, are now equally influential, Dippenaar said.

Property shortages and rising demand push up prices in The Parks

Dippenaar said that stock shortages are currently evident across key suburbs in The Parks, including Parkview, Parktown North and Parkwood, particularly in the well-priced, renovated family home segment.

This has resulted in sustained upward pressure on prices, with the R3 million to R5 million bracket remaining the most active.

“In the rental market, demand significantly outweighs supply,” said Pam Golding’s Gauteng Metro rental manager Garreth Gibson.

“Well-maintained homes attract multiple applications within days of listing, often at full asking price.” Rental demand is particularly strong in the R20,000 to R25,000 range.

However, fully renovated homes in Parkhurst can command between R25,000 and R45,000, depending on features such as cottages, swimming pools and solar backup.

“Tenants range from young professionals and small families to empty nesters and homeowners choosing to rent while reassessing long-term plans.”

Rather than relocating, Dippenaar said many homeowners are reinvesting in their properties, undertaking extensive refurbishments that blend modern living with original character features.

“Solar installations, inverter systems, boreholes and water storage solutions are now key value drivers, particularly in the rental market.”

The Parks also continue to attract a diverse buyer pool. First-time buyers and young couples are entering suburbs such as Greenside, Emmerentia and Parkhurst, typically in the price range between R2.5 million and R3.5 million.

Families are most active in Parkview, Parktown North, and Parkwood, generally in the price band between R3.5 million and R6 million.

Upgrading buyers are targeting larger or renovated homes in the R5 million to R8 million-plus range.

Downscalers are either remaining in smaller homes locally or transitioning into limited sectional title options.

Sectional title stock remains scarce but is available in Dunkeld, Craighall Park and parts of Parkhurst and Parkview, typically ranging from R1.5 million to above R4 million.

“Larger, architecturally significant homes in Westcliff, Saxonwold and Parkview continue to attract high-net-worth buyers and international interest,” Dippenaar said.

“These properties are increasingly viewed as ‘trophy homes’, valued for both their scale and historical significance.”

A recent sale by Pam Golding Properties in Parkview underscores this trend, with a four-bedroom residence on an acre stand achieving R12.5 million.

This sets a significant benchmark for the area, reflecting sustained demand for well-located properties with substantial land value.