Gau­train boosts prop­erty prices

CityPress - - Business -

Since the es­tab­lish­ment of the Gau­train sta­tion in Rose­bank, north­ern Jo­han­nes­burg, prop­erty prices in the area have rock­eted.

Prop­erty an­a­lyst com­pany Light­stone said: “In the past five years, Rose­bank has seen a pos­i­tive in­fla­tion, some of which could be at­trib­uted to the Gau­train. Af­ter the sta­tion was opened in Rose­bank, prop­erty prices close to it achieved an ad­di­tional 2.5% growth com­pared with prices for prop­erty in the sur­round­ing ar­eas that are fur­ther away.”

Light­stone data have also shown sim­i­lar­i­ties be­tween Cen­tu­rion and Sand­ton, which could indi­cate Cen­tu­rion has the po­ten­tial to de­velop into a bustling busi­ness sec­tor.

“When com­par­ing com­mer­cial prop­erty growth, Marl­boro ex­pe­ri­enced re­tail prop­erty in­fla­tion of al­most 10% dur­ing the 2011/13 pe­riod, 4% of which can be as­cribed to the ex­is­tence of the Gau­train and the sur­round­ing prop­er­ties’ prox­im­ity to the sta­tion.”

Fur­ther ex­pan­sion of the Gau­train is planned for Randburg, Cosmo City and Lit­tle Falls.

“If Gau­train has had a pos­i­tive ef­fect on the prop­erty mar­ket in Rose­bank and Sand­ton, it is rea­son­able to ex­pect the same from ar­eas such as Cosmo City and Mamelodi,” Light­stone said.

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