select
|

'Big Ticket” sales for Pam Golding Properties Gauteng

Comments Dr Andrew Golding, CE of the Pam Golding Property group: “During the months of July and August 2011 we have achieved a number of ‘big ticket’ sales in Johannesburg’s affluent Northern Suburbs, which have further boosted the region’s sales turnover.”

These include the following sales successfully concluded by Pam Golding Properties (PGP): a home in Westcliff which fetched R35 million; a house in Bryanston which sold for R30 million; homes in Sandhurst  which achieved prices of R23.68 million and R16.3 million respectively;  and a home in Houghton Estate which was sold for R16 million. In addition, PGP sold an apartment in Melrose Arch for R22.2 million.

Adds Dr Golding: “Independent sales data reveals that over the past 18 months,approximately 25 percent of all Northern Suburbs sales in the upper end of the market – which in the current market is from approximately R15 million upwards - were concluded by Pam Golding Properties, which is more than double that achieved by any other agency. This is despite the fact that overall, and during this period, the Northern Suburbs experienced a drop-off in sales across all price bands - indicating that in addition to increasing sales we have gained market share as both buyers and sellers continue to favour reputable brands coupled with quality of service,” adds Dr Golding.

Jonathan Davies and Rupert Finnemore, joint area managers for PGP’s Hyde Park office which operates in the Northern Suburbs, comment that those currently seeking luxury homes are mostly local purchasers, although they report some buyers are those relocating back to Gauteng from the Cape Town area, while others are from African countries such as Kenya, Nigeria and Zimbabwe.

Says Davies: “Our buyers are mostly individuals purchasing a primary residence, with some corporate buyers. There is a growing trend towards ‘new money’ or recently acquired wealth flowing into the market via those wanting to acquire residential property at the ‘best’ address available. Location remains key and a prime Hyde Park or Sandhurst address remains highly sought after, however we note that buyers are finding value in the upmarket area of Bryanston, which is also centrally situated and conveniently located in regard to the Sandton CBD.”
Finnemore adds that the top end of the market remains sustainable due to its resilience as sellers are in a position to sit out any downturn in the market and as a result, properties tend to maintain value despite challenging market conditions. He says coupled with this, many purchasers are able to provide a high cash to loan ratio.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Feb 2018
      Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
        
    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