|Property prices in Boksburg are being underpinned by new commercial development and a surge in home renovation activity. |
Consequently, says Leslie de Wet of the local Chas Everitt International office in a January 30 company press release, good growth is still expected in most areas this year, despite sales slowdown in the upmarket sector.
"Houses in the top price range, especially in cases where owners are pushing for prices above value, can now stay on the market for anything between two and five months as opposed to four to six weeks at the height of the boom."
However, he notes, new commercial and residential development along North Rand Road connecting Boksburg to neighbouring Benoni is still booming. "The very successful East Rand Mall has kick-started development along this axis and smallholdings are increasingly being rezoned for this purpose.
"In areas such as Boksburg North, meanwhile, solid family homes can still be bought for anything between R350 000 and R600 000 and extensive renewal and renovation activity is taking place."
Cluster and sectional title units with access control are, however, the most popular buys, at prices ranging from about R600 000 for smaller units all the way up to R2,5-million for luxury units. For example, at the Rose of Sharron cluster development currently being marketed by Chas Everitt International Boksburg, prices start at R1,3-million.
The development comprises 13 three or four-bedroom homes, each with a double garage and private gardens, and Beyers Park, the area where it is located, is popular among homebuyers as well as commercial tenants thanks to its central position, De Wet says. "It is close to Johannesburg's CBD, the International Airport and the rest of the East Rand. A good road network also connects it to Midrand and Pretoria."