Springs

The bustling city of Springs is situated in what is known as the Metropolitan area of Ekurhuleni. Located on the East Rand, close to the likes of Brakpan and Boksburg, Springs is found approximately 50 km east of Johannesburg, and 72 km southeast of Pretoria. With an active and growing real estate sector, residential and commercial properties for sale in Springs offer buyers a wide selection of competitively priced options for investment and occupational purposes.  
 
What is unique about Springs as a Town?

The city – as the name suggests – gains its corresponding name from the number of underground springs that are naturally occurring in the area. Originally well-known for its coal production, no sooner did coal mining activities slow down in the area that considerable deposits of the country’s gold were then discovered in Springs. The largely industrial area has also gained the reputation as one of the main manufacturing and engineering hubs countrywide.
Springs property owners can expect a traditionally “suburban feel” and although Springs is away from the city centre of Johannesburg, it’s still close enough for easy access. This opens up the plethora of shopping and entertainment options as well as other amenities, in the Johannesburg area and surrounds, to Springs residents and guests. Essentially, many of the residents in Springs enjoy the relaxingly, quaint social life of Springs with the excitement of Johannesburg nightlife and other nearby attractions.

What is the Springs property market made up of?

The Springs property stock leans largely in favour of freehold or full-title options, currently estimated at 93% as per recent Lightstone reports. As for sectional-title and estate properties in Springs, sectional schemes are the second most dominant at 6% with estate properties representing just 1%. This ties into the fact that Springs is an industrial centre, which is giving to a greater proportion of freehold property types.

What do Springs properties sell for?

Recent Lightstone reports indicate 862 freehold, 15 estate, and 83 sectional scheme Springs property sales took place over the recent 12 month period. Pricing splits suggest that 445 of these transactions were R400 000 and under, 412 between R400 000 and    R800 000, 97 between R800 000 and R1, 500 000, and finally 6 over R1, 500 000 and less than R3, 000 000. 

Growth and activity trends according to Lightstone indicate a general, steady annual increase on average in Springs property prices over the past 10 years. The consistent increase is more stable with freehold properties that currently average around R465 000, while sectional-title properties more recently appear to be levelling around R400 000.

Municipal nearest town rankings on the other hand place freehold Springs property valuations closer to R575 000, which speaks well for value-buys – seeing that growth and activity movements indicate that more competitively priced freehold Springs properties are available. Springs freehold properties rank considerably higher than towns such as neighbouring Daveyton and come close to that of Nigel. On a national level Springs is more or less on par with average prices in the likes of Velddrif of the Western Cape. In terms of municipal national rankings on Springs sectional schemes, the current average valuation is just over R480 000, which is similar to that of Carletonville in Gauteng.

When it comes to estate properties, which are far fewer in number than freehold and sectional-title properties, as expected they command a higher market value. Lightstone transfer information confirms this as per recent reports that indicate that the average of repeat and first time Springs property sales or registrations for estates, is roughly between R700 000 and R1, 000 000.