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Krugersdorp homes selling from R400k

09 May 2013

Named after Paul Kruger, the mining town of Krugersdorp was founded in 1887 by Marthinus Wessel Pretorius, the first president of the South African Republic. Situated in the West Rand of the Gauteng province, the town arose due to discovery of gold on the Witwatersrand, which was an integral part in the growth of the town. 

This home in Krugersdorp North offers three bedrooms, two bathrooms and a garage. It is on the market for R790 000 - click here to view.

Adrian Goslett, CEO of RE/MAX of Southern Africa, says the current market stock of property in Krugersdorp central consists of 61.41 percent freestanding homes and 38.59 percent sectional title units. 

He notes that between 2004 and 2007, the average number of property sales transactions in the area was around 47 properties per year. In 2008 this dropped to 36 sales transactions and between 2009 and 2012, the average number of properties sold per year was approximately 21. 

Goslett says the average property price in the area saw a big jump from 2005 to 2006, with a freestanding home selling for around R571 000 and a sectional title unit selling for approximately R268 000. Prices maintained these figures until 2009, when the average price of a freestanding home dropped to R329 000. 

This three bedroom, two bathroom home with a double garage and a flatlet is priced at R950 000 - click here to view.

During 2011 the average price of a freestanding home hit a record high of R771 000, while the sectional title price increased to R350 000. Last year the property prices were back to the levels seen during 2006.

According to Lightstone, the recent buyers in the area are divided between consumers aged between 36 and 49 years old, who account for approximately 41 percent of the recent activity, and those aged between 18 and 35 years old and those aged 65 years old and older, both of which account for 23.53 percent of the recent purchasing activity. Around half of the homeowners who are currently selling their property in the area are 65 years old or older. 

According to Goslett, the large majority of property sold in central Krugersdorp is sold for under R400 000. He says properties within this price bracket accounted for around 67 percent of all property sold between April 2012 and March 2013. The remaining 33 percent of properties sold during this period were priced between R400 000 and R800 000.

This home offers five bedrooms, three bathrooms and is located near schools and shopping centres. It is on the market for R1.35 million - click here to view.

Initially located on farmland known as Paardekraal, a section of the Krugersdorp land was purchased by the government and developed into a bustling mining community. Thousands flocked to the gold reef of Witwatersrand seeking to make their fortune, and by 1888, Krugersdorp had been proclaimed a separate gold field. Aside from gold, a wide variety of other minerals are mined in Krugersdorp including manganese, iron, asbestos and lime.   

The area also has historical significance as the site of the Transvaal War of Independence in 1881. During December 1880 more than 6 000 men gathered in the area and vowed to fight for Transvaal’s independence.

Today, the area is regarded as the industrial hub of the West Rand and offers residents all the benefits of a contemporary, metropolitan region with all the required amenities.

However, nearby game reserves and a bird sanctuary also give the area a more out-of-town feel. Various provincial heritage sites are close to Krugersdorp, such as the Cradle of Humankind, which features the Sterkfontein Caves and the Wonder Cave.

Krugersdorp is also no longer a separate municipal government and has joined with the surrounding towns to form the Mogale City municipality.

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