"In just over a century it [Boksburg] has gone from a mining camp to become a key part of the East Rand, the industrial heartland of our economy."

This is a statement extracted from former President Nelson Mandela's address on receiving the freedom of Boksburg in 1997. Ten years later the town is still flourishing under the governance of the Ekurhuleni Metropolitan Municipality.

Beyers Park is an open suburb in Boksburg offering mainly upmarket townhouses and cluster units. Property SPI data reveals that Beyers Park showed a steady increase in sales volumes in recent years, with a total of 66 freehold transfers recorded in 2001, 80 in 2003 and 89 in 2005.

Recently, the average price has been increasing: where 2001 had an average price of around R262k, 2003 showed an average price of R425k and 2005 of R484k. However, deeds office data reveals that there was a notable drop in the number of Beyers Park transfers between 2005 and 2006 as only 56 took place in the latter year.

Interestingly, the average house price has continued to move upward despite lower transfer numbers, meaning that although fewer properties were sold, those that did exchange hands were of a higher value.

This notion is further supported by Property SPI information which shows that in 2006, 11 out of the 12 months reflected maximum transfers above the R1m mark, while in 2005 the same was achieved in only four months of the year. The highest transfer price achieved in 2006 was R1,85m while in 2005 and 2003 it was R1,65m and R830k respectively.

Commenting on the slowing down of sales volumes, Cyril Theunissen, principal of Cyril Theunissen Estates, confirms that "the market is stagnant and prices are at their highest and there has been no phenomenal growth."

The downturn in sales can also be attributed to a lack of stock on the market as Andre Kok of Chas Everitt Boksburg reports that buyer interest has remained strong. He comments that Beyers Park is still a sought-after area and that based on affordability levels, homeowners are limited in terms of where they can move to while maintaining or improving their standard of living.

"In my experience there has been a shortage of entry level stock and the entry level price has moved up to R600k and above and we can help very few people looking for property in the R400s," Theunissen said.

Beyers Park has a lot of townhouse complexes and clusters, and although they are more expensive, cluster homes draw more buyers as they offer bigger spaces and are usually enclosed communities offering more privacy and security.

Younger buyers between the ages of 22 and 28 typically show interest in the more affordable townhouse units, which range in price from R650k to R850k. Clusters flaunt price tags of anything between R950k to over R1m.

Kok remarks that although Beyers Park is suitable for upmarket buyers, younger buyers with a double income are also accommodated. Theunissen adds that the area is conveniently positioned for those working at nearby East Rand Mall and the O. R. Tambo International Airport.

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