This three bedroom house in Dalpark, Brakpan a offers TV room and pool. It is selling for R950 000 - click here to view.
In the 2009 to 2011 economic downturn, the Brakpan residential property market proved to be one of the least resilient and suffered severely.
This is according to Hanna Stoltz, Manager of the Rawson Property Group’s Brakpan franchise, who says now, however, the situation is changing rapidly and many sellers are inclined to think that the market is turning in their favour.
“This perception is in fact valid, but sellers have to be warned now against over-optimism and overpricing - at the moment the price rises are below 5 percent per annum. In today’s market overpriced homes will still stick on the stock list.”
Stoltz says in the very worst scenario, a home that is correctly priced will always sell within one month.
This two bedroom townhouse in Dalpark, Brakpan has an open plan kitchen and lounge. It is on the market for R480 000 - click here to view.
Although there are more expensive homes in the Brakpan suburbs like Dalpark (where they can be priced at up to R1.5 million), Brenthurst (R600 000 to R1 million), Kenleaf (R1 million upwards) and Sonneveld, the majority of today’s buyers are looking for homes in the R400 000 to R700 000 range, says Stoltz, and both Brakpan Central and Brakpan North as well as much of Springs have many homes in this price category, 80 percent of which are freehold. The sectional title units are mostly found in the expensive areas.
Brakpan and Springs buyers today have often been transferred to this area by the companies that employ them. For example, Consol Glass transferred people from its Pretoria factory, when it closed down, to its Nigel factory and there have been other instances of this type of population movement.
She says demand for rental properties is even stronger in Brakpan than for sold property and rents are rising at ± 10 percent per annum. “This, of course, makes this area an ideal hunting ground for buy-to-let investors.”
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