The Upper Vaal River area, situated on an unspoilt stretch of water below the Vaal Dam, continues to buck the prevailing property market trends with growth in residential property values in excess of 35 percent year-on-year, says Phil Medlock, area principal for Pam Golding Properties (PGP).

"To illustrate this, in 2007 the average selling price of vacant plots was R200 000 while in 2008 all our sales of such properties were above R300 000. Currently we still have no stock available under R300 000.

"Buyers remain drawn to this area not only for its water sport activities, including boating and fly fishing, but for the peace and tranquillity and large size of the properties on both the Free State and Gauteng sides of the river. While purchasers are mostly those seeking lifestyle weekend getaways, we also see an increase in buyers wishing to relocate here permanently — with the drive into Johannesburg/Alberton a comfortable 60 minutes on good roads. With the appealing town of Deneysville a mere five minutes away with its shops, restaurants and marinas, the area offers the ideal weekend getaway from the hustle and bustle of the city," says Medlock.

He says all the waterfront properties range in size from five to nine hectares with 100 metres of private waterfront. These start at around R1.3-million for vacant land and from R1.7-million for stands with improvements (i.e. with homes and/or outbuildings constructed).

PGP Vaal Dam recently concluded the sale of a waterfront property — including a house — located on Vaal Bank for R1.7-million as well as the sale of two properties in the Veekraal Valley priced at R1.1-million and R1.3-million respectively. Each of the latter properties includes a home set on five hectares.

"Prices of homes in this desirable location range up to around R3.2-million," adds Medlock. "Situated on the Vaal River below the dam wall, the Veekraal Valley has very shallow, fast-flowing water making it ideal for fly fishing. It is also home to exceptional bird life including fish eagles.

"Further large plots not on the water but with superb views across the Vaal River valley are currently available for purchase. These are situated on a minimum of five hectares ranging in price from R300 000 to R650 000. While these are not right on the water they do provide river access via a servitude — again affording outstanding fly fishing," he says

iAfrica