Springs upgrades its image

Long stigmatized as a mining town populated mostly by lower and middle income residents, the East Rand town of Springs is fast taking its place as a sought-after residential area – by multi-million rand as well as entry level buyers.

That's according to Steyn de Wet, new owner of the Realty 1 International Property Group franchise in Springs, whose drive for market share is already bearing dividends in the face of steady buying activity in all sectors.

De Wet says that while Springs has traditionally been the poor cousin of Boksburg and Benoni, it is becoming increasingly attractive to buyers for a number of reasons.

"Now that the rest of the East Rand has become so pricey, Springs is coming into its own as a source of value-for-money properties," he says. He adds that the area also offers good commuting access to work places in Sandton, Johannesburg and even Pretoria via the N12 and N17, which happen to be less congested than main routes out of neighbouring, more expensive towns.

Testimony to his assertion that the area is gaining popularity is the take-up of luxury homes in suburbs such as Petersfield Extension, where prices now range upwards of R1 million. The crème de la crème of property lies in secured complexes such as President's Dam and President's Ranch, where people are paying up to R5 million for a luxury new unit.

While still relatively affordable, the middle market has gained new stature with the price of an average three bedroom house shooting up from R300 000 just a year ago to R750 000. "People are waking up to the value of the area," says De Wet. While varied, the driving force behind sales activity is currently in three forms: young families, emergent market buyers from the nearby townships of Daveyton and Kwa-Thema, and those with big spending power who can afford to live anywhere they please.

Young families in particular are spurning rental opportunities closer to their places of work in favour of owning their own homes in Springs, he adds. With limited affordability, they are finding best value for money in Springs, where they are buying and then happily commuting to their workplaces in Boksburg and Edenvale.

Most popular among these buyers are the middle class suburbs of Strubenvale and Casseldale, where homes range from R700 000 to R1,5 million and the slightly more expensive Selcourt, which has homes from R900 000 to around R2,5 million.

Not only is Springs' residential market performing well but its commercial and industrial component is also showing strong growth, De Wet says. 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.

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