select
|

Property sales up in Pretoria’s new east

Property sales in several of Pretoria’s eastern suburbs have escalated dramatically in the past three months.
 
Nelis Bezuidenhout of the RealNet Wapadglen estate agency reports that sales in Wapadrand, Faerie Glen and Olympus have increased by about 150% since August, compared to the previous three months.
 
“Lower interest rates have undoubtedly made a major contribution to the sales figures. Many buyers and investors have taken the declining rates as a sign that the market is at a turning point, indicating good buying opportunities.
 
“Consequently, levels of available stock in the market have halved in the past three months, although one must add that lower interest rates also put sellers in a better financial situation and caused quite a few to withdraw their properties from the market.”
 
Most of the residential properties sold, he says, were in the under-R800 000. bracket. Less than 10% were properties costing more than R1m.
 
Bezuidenhout adds that well-priced properties are still selling smartly and that qualified buyers with deposits of between 5% and 15% are not experiencing significant problems in obtaining bank loans.
 
 
Issued by RealNet


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 24 Nov 2017
      There are some things that money can’t buy – spectacular views from Mouille Point to the V&A Waterfront and a trendy and lively neighbourhood that encapsulates the very best of the Cape Town lifestyle.
    • 24 Nov 2017
      Tshwane’s four-bedroom Mayoral mansion, nestled among ambassadorial residences in the upmarket suburb of Muckleneuk, fetched R5.1 million after spirited bidding at High Street Auctions’ final sale of the year.
    • 23 Nov 2017
      Reserve Bank Governor, Lesetja Kganyago, said that the Monetary Policy Committee had once again decided to let the interest rates remain unchanged with the repo rate at 6.75%, and the prime lending rate at 10.25%.
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
        
    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