select
|

Kuils River home buyers queuing up

Stock shortages in the affordable home market in Kuils River in the Western Cape have prospective buyers lining up and well-priced properties selling within a few days of being listed.


This large family home in Kuils River is for sale through RealNet for R1,75m. It has four bedrooms, two bathrooms, a brand-new kitchen with scullery, three living rooms and a double garage. It is also within walking distance of the primary and high schools.
 
There is high demand for basic homes in Delft among young market entrants, says Ronelle Venter, the RealNet franchisee in Kuils River. "Small homes with two bedrooms are selling for just less than R200 000 here and young buyers at the start of their careers find this an excellent opportunity to enter the market.
 
"At this price level, 100% loans are also relatively easy to obtain and some young buyers have saved up enough while living with their parents to be able to buy with cash," she says.
 
Larger two- or three-bedroom homes in areas such as Highbury Park, Summerville and Hagley are being targeted by young buyers with families because they offer good value at prices between R500 000 and R700 000.
 
Venter says many young buyers working in nearby Stellenbosch are particularly keen on these areas since properties are much more affordable. "Homes and apartments in and around Stellenbosch, about 15km away, are usually out of reach for young buyers who are usually quite prepared to commute in return for being able to buy an affordable home of their own in parts of Kuils River."
 
She adds that stock shortages are abating somewhat, but that there is still a dire need for more development in the lower price ranges. "Severe winter weather has slowed homes for sale to a trickle – as is usually the case during the wet Cape winters – but even with more homes coming to market now that the weather is warming up, demand will probably far outstrip supply for the foreseeable future, offering housing developers good prospects of quick uptake of units."
 
The availability of homes in the R900 000 to R1m price range is reasonable, she says, but that is because the uptake is slower due to affordability issues on the one hand and problems with qualifying for bond finance on the other.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK