select
|

Centurion demand rises for higher priced homes

The residential property market in parts of Centurion is getting a welcome fillip from greater demand for more expensive homes.
 
Riëtte Oosthuizen of the RealNet Centurion estate agency reports that demand in the lower price ranges carried the market during the worst of the recession, but that buyers are increasingly targeting more expensive units.
 
“The cheaper end of the market, where prices of units start at around R550 000, is still active but we are greatly encouraged by renewed demand for units with price tags of up to R2m. Greater demand is especially evident in suburbs such as Eldoraigne and Celtisdal.
 
“Demand for units in estates and duets in the price range of R800 000 to R2m in areas such as Wierdapark, Eldoraigne, Rooihuiskraal, Lyttleton and Highveld, is also lively and prices are stable,” she says.
 
“A further positive development is that successful bond applications have risen by about 10% in the past four to five months. This leads to quicker sales and acts as a general stimulus in our market.”
 
Oosthuizen says the rise in successful applications may be ascribed to prospective buyers being better prepared in terms of banks’ qualification requirements as well as being more informed about the size of deposits required.
 
She adds that properties offered in terms of various bank quick sales programmes, where owners under financial pressure are assisted to sell before the properties are attached, are finding ready buyers. “These properties generally offer excellent value at between 15 and 20% cheaper than the market price of similar properties and are sought-after by young buyers and investors.”
 
Encouraged by improving market conditions, RealNet Centurion plans to establish a greater presence in Swartkops and the Lyttleton area, says Oosthuizen.
 
Issued by RealNet


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    • 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.
        
    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