26 Nov 2012
This area was established in 1903 when Bavarian born Carl Friedrich Wolff sub-divided a section of his Zuurfontein farm into stands for residential use.
He named the new village Kempten after the German town of his birth, which was later changed to Kempton Park, the name it bears today as part of the Ekurhuleni Metropolitan Municipality.
During 1952 construction of Africa’s busiest airport began next to the Kempton Park community, then known as Jan Smuts International Airport, which opened its doors in 1953.
In the late 1990s the name was changed to Johannesburg International Airport and underwent another name change to OR Tambo International Airport in 2006.
The proximity to the international airport makes accommodation facilities in Kempton Park ideal for overseas travellers.
The area is also close to many other amenities such as large shopping malls, a number of entertainment and sporting facilities and six major high schools.
Although generally a quiet residential suburban area, there is a large industrial zone close by known as Spartan. This zone is home to many chemical manufacturing facilities along with other industries and factories, which drive the local economy.
The area is also home to a large coal power plant known as Kelvin Power Station and the region is responsible for producing about 23 percent of the Gross Geographic Product of Gauteng, which is Sub-Saharan Africa’s most economically powerful region.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says Kempton Park is a market that offers a vast range of property to potential purchasers. The area caters for all sorts of buyers and is able to offer properties to various sectors of the public. In this way, it is a little more resilient to changes in the market, as its target market covers a broad spectrum of potential buyers.
However, Goslett says more recently the buyer demographic of Kempton Park is getting progressively younger as more first-time buyers enter the market looking for affordable housing. This is supported by Lightstone data that shows that property in the Kempton Park area appeals to younger buyers.
Nearly 40 percent of the recent buyers were aged between 18 and 35 years old and more than 37 percent were from the 36 to 49 year old age bracket. It is interesting to note that more than 38 percent of recent sellers were also from the 36 to 49 year old age bracket.
Approximately 54 percent of property in Kempton Park is sectional title, with freehold homes making up 45 percent of the market, and estates accounting for a little over one percent of properties.
There has been an increase in the development of security, eco and golf estates in Kempton Park recently, which has given potential purchasers the opportunity to enjoy a lifestyle that was previously only associated with the northern suburbs of Johannesburg and Pretoria.
Goslett says an entry level home in Kempton Park would sell for approximately R650 000 and the average price of a mid-level home is R950 000, while the area’s most expensive homes that have top-of-the-range finishes and features, sell for an average of between R4 million and R5 million.
The year to date figures show that the average price of a freestanding home was around R850 000 and the average price of a sectional title unit was around R404 000.
Demand for both sectional title and freestanding property is fairly evenly matched in Kempton Park, says Goslett. He says from November 2011 to date, 226 property transfers took place, with 110 of those being freestanding homes, while 116 were sectional title units.
It seems that the element of price is driving demand more than the type of property, as statistics suggest that affordable homes are highly sought-after in Kempton Park.
Approximately 40 percent of all properties sold in the area are in the R400 000 to R800 000 price bracket, followed by the lower to middle end of the market, with around 33 percent of all transfers taking place in the R400 000 or less price category.
Around 26 percent of properties sold were in the R800 000 to R1.5 million category, while only two percent fell into the R1.5 million to R3 million price band.
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