Homebuyers preparing for ‘good new times’

An upbeat Goran Despot of RealNet Erasmuskloof in Pretoria says July figures from bond originators show that both the number and rand value of bonds granted has been increasing since the beginning of this year.

“And now there are further indications that some banks are building their bond books and are becoming more willing to lend to homebuyers. This is a major boost for the market and promises better buying conditions for consumers. Then of course when qualified buyers make an appearance, conditions also improve for sellers.

“We already notice more confidence as well as higher demand for residential property in our local market and consumers seem to be preparing for the ‘good new times’ instead of yearning for the ‘good old days’ of the past property boom. Sellers are particularly encouraged and are more willing to bring property to market.”

Townhouses in Erasmuskloof and surrounds are selling quickly, he says, because of perceived value and affordability, and draw interest among all buyer types. Prices range between R600 000 and R800 000 for two-bedroom units while three-bedroom units sell at prices between R1m and R1,4m.

Demand for full-title property in the medium price range is also on the up, says Despot. “We are seeing stronger demand in the price range up to R1,7m while upmarket properties at the R4m mark are also finding buyers.”

Erasmuskloof, a relatively young suburb, offers a wide variety of property and a range of prices to suit all sorts of buyers. “It is well-positioned in terms of access to the N1 and Hans Strijdom Drive, yet offers quiet and secluded living in picturesque surroundings close to amenities such as shopping centres and medical facilities.

“It is also fairly close to the Menlyn business hub, which is a great boon for young professionals who commute to offices in the area.”

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