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
Characters remaining

    Latest Property News
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us