Drop in showhouse numbers opens a gap for serious sellers

The shortage of housing stock in various Cape Peninsula suburbs is borne out by the latest show house figures which reflect a significant drop from 2013 to 2014, according to Mike Greeff, chief executive of Greeff Properties an affiliate of Christie’s International Real Estate.

“In the southern suburbs there were 8 942 showhouses in 2013 but only 4 025 in 2014, in the southern peninsula, showhouses in 2014 dropped to 1 851 from 3 740 in 2013, and in the city bowl a drastic reduction to 2 679 in 2014 from 6 177 in 2013 was recorded,” says Greeff.

The combined average drop in showhouses for all these areas is 55 percent, compared to figures for 2013, according to a recent report.

“Sellers who want to put their houses on show in the current stock-short environment could find there is quite a bit of competition between buyers, which places the property in a much stronger position than if it were competing against a greater offering of neighbouring houses of other sellers,” says Greeff.

“Another advantage of show days compared to viewing by appointment is that the inconvenience of tidying up and vacating is limited to three hours on one day. Appointments throughout the week usually mean more inconvenience for the seller and the family,” says Greeff.

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