Jul
2020
Is there such a thing as breaking news for residential property? The opinion is, to some extent a yes. What then would one define as breaking news, a new estate, increased property values, gentrification of inner city dwellings or all of the above?
So yes, there is such a thing as breaking news in the residential property market. The extent of the breaking news may not always be front page or general knowledge but for residents of any given suburb that specific breaking news is significant. This is very much the case for Van Dyk Park, Boksburg, in the Ekurhuleni Municipal District.
All though the suburb is reasonably small there are property developers that are and have been busy developing the suburb and its outskirts. Naturally, this is where the story hits the headlines as this has brought an increase in property values and drawn more intended residents. The developers are focusing on townhouses and apartments which seem to be the way to go given the economic climate the country is experiencing currently making it the most buoyant segment to concentrate on with their values ranging between R 480K to around R 520K.
Being a lower middle to middle high income residential suburb means there is value to be had in property located in Van Dyk Park. Some are of the opinion that Van Dyk Park may be slightly remote but this like many other factors is more a case of relativity.
A safe assumption would be that a large portion of the household income for residents is generated through the industrial sector and as a secondary source then the commercial sector. Having taken this into account it would seem that the income derived from the commercial sector to household income is supplementary of nature making it slightly less important where the commercial nodes are placed in relation to the suburbs.
Yes, there are major highways and roads which do actually belie the idea that Van Dyk Park is remote with roads and highways such as the N17, the R554, Rondebult Road and Trichardts Road.
The suburb is also in the beneficial location to have Carnival City Casino and Mall@Carnival Shopping Centre as a neighbour and then there are naturally numerous schools nearby namely Laerskool Van Dyk, Hoërskool Oosterlig and Parkrand Primary School.
