Furthermore, prices and demand are increasing in tandem. Eiselen Street, which continues along Heald Street, connects residents with the R51 Kingsway Road, and offers good commuting access to Benoni, Boksburg, Bedfordview, Edenvale, Johannesburg and even Pretoria via the N12 and N17.
The Daveyton township was recently "earmarked for regeneration" among 20 selected townships in the province, says local estate agent Emily Visser. The regeneration in the area is part of the broader 20 Priority Township Programme, which is expected to be completed by the end of 2009. The development of Chief Albert Luthuli Extension is also taking place a mere 3km from Daveyton.
The average freehold price over the past two years was R135,003, and the maximum freehold price in the area was R720k, recorded earlier this year in February, while transactions month-on-month since October 2006 have been increasing at a rate of 16% over the previous seven-month period.
According to deeds office data Daveyton has no recorded figures for sectional title units. In 2006 Alex Fenwick, CEO of Aida National Franchises, stated that older and well established areas like Daveyton are good value for money. This is due to the fact that purchasing larger properties offers great value-for-money and as a result families can stay longer before outgrowing home-space and ultimately saving on future relocation expenses.
Fenwick adds that this "trend is evident in traditional townships with prices in Daveyton on the East Rand up 66%". More recently, the average freehold price for the 12 month period spanning August 2006 to July 2007 was up by 30%.
Buyers in Daveyton have caught onto these trends over the past year, and many homeowners are subsequently refurbishing their homes or making extensions to the property. Furthermore, many property buyers use Daveyton as a launching platform to enter pricier, better established areas like Strubenvale and Casseldale.
Residential properties in Daveyton are growing in popularity, both for first-time buyers and young families. There is tremendous potential for growth, based on strong and steady mark-ups on maximum freehold prices.
Overall, further positive growth is expected in and around Daveyton in residential as well as commercial properties. "This is evidenced in the upgrading of a number of factories and plants as well as in the growth of the town's business and manufacturing sector, which is lifting the tone of the entire area", says Steyn De Wet, owner of the Realty 1 International Property Group franchise in Springs. - James Monteiro
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