There’s a buzz at the lower end of the East London market

There’s lots of action right now in the East London property market, and especially in the lower-priced sectors.
That’s the word from Clinton Krouse, owner of the second Chas Everitt International franchise in the city, who says homes priced at between R500 000 and R850 000 are selling particularly well to eager buyers.
“There has been a definite increase in demand in recent months, reflecting the improved fortunes of the motor industry which is the mainstay of the local economy. We have also seen business improve in the East London IDZ.
“However, most salaries here are not high, so the majority of potential buyers have limited affordability. In addition, the recession has made consumers extremely cautious and determined to secure good value for their money when they do buy.”
Nevertheless, he says, the market has been helped by the introduction by some banks of special home loan products for first-time and for lower-income buyers, and by declining interest rates.
“Sales are definitely up on this time last year and we anticipate continued growth, especially as current pricing still offers excellent opportunities for investors as well as homebuyers.”
The new office, which was officially opened this month, is located in Greenfields south of the Buffalo River but serves all areas of the city to take up the additional market demand now and expand on the success of the original Chas Everitt franchise in East London.
Issued by Chas Everitt

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
    • 15 Jan 2018
      The Atlantic Seaboard’s housing market has stoically withstood the brunt of the growing economic and political instability, consistently achieving double digit growth way above the national average, however, in 2017 South Africa’s most resilient market finally began to yield to the pressure.
    • 15 Jan 2018
      Sectional title insurance can be a little confusing and, as a new owner, you may be tempted to just assume your body corporate has you covered. While this may be the case, understanding the extent of your coverage and your personal liability is the only guaranteed way to protect yourself against potentially costly oversights.
    • 12 Jan 2018
      After an exceptionally good 2016 during which the Winelands residential market outperformed the national average by a considerable margin, 2017 was marked by a difficult winter which saw a notable slump in sales and demand.
    • 12 Jan 2018
      Small spaces can make a big impact. Irrespective of size, an aesthetically pleasing outdoor space can be a major selling point for prospective buyers. “Even if the outdoor area is small and only enough to sit and have a cup of coffee, it might just be the feature that makes the stand out from others in the neighbourhood,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 12 Jan 2018
      The boom of the digital age has opened up many doors to the way we buy and sell property. In the past we used to pop out and pick up the latest copy of the property magazines available, today we switch on the PC or grab our smart phones as online property portals & Facebook has become the new ‘go-to’ for anything, including shopping for your new home from the comfort of your couch.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us