select
|

Brisk trade in Southern suburbs middle housing market

The property market in Cape Town’s Southern Suburbs continues to attract steady demand, with buyers drawn to its spacious family homes, central location and excellent schools.



Pam Golding Properties has reported a recent spike in sales activity in the area’s lower and middle price ranges in particular, with its agents selling 44 homes in the price category below R5 million during the months of April and May 2012 alone, to a total sales value of over R77.6 million.  Of these sales, 28 were properties priced below R2 million, and 16 were priced between R2 million and R5 million.



PGP’s area manager Howard Markham says these sales were spread across the Southern Suburbs, including popular family areas such Rondebosch, Claremont, Wynberg and Kenilworth, as well as more affordably-priced suburbs such as Observatory, Mowbray, Wetton, Lotus River and Kirstenhof.  “Among the most notable individual sales were four family homes in Rondebosch, all sold for R4 million and more,” says Markham, “as well as two family homes in Newlands sold for R3.9 million and R3.6 million.”



PGP also maintained steady sales in the upper price brackets, with notable deals including:

·         R15.75 million for a home in Steenberg Golf Estate, Tokai
·         R10.35 million and R9 million for homes in Bishopscourt
·         R8.5 million for a home in Fernwood, Newlands
·         R8.25 million for a home in Upper Kenilworth

Markham says the figures are laudable sales turnovers for a two-month period, especially given the prevailing tighter market conditions.  “Show-house attendance has been good,” he says, “and the market for affordable homes remains buoyant. However, market recovery remains gradual.  Positively, some buyers are making purchase decisions now as they feel this may be their last chance to buy before prices start rising again.  Our hand-picked team of highly-qualified agents, all specialists in their particular areas, is well placed to offer advice to both buyers and sellers on how best to negotiate the current trading conditions.”



PGP’s MD for the Western Cape metro region, Laurie Wener, says the run of brisk sales activity in the middle-market is a good indicator that the Cape Town market does not necessarily slump as we head into mid-year.  “There is a perception that the market dies down completely in winter, but that simply isn’t the case,” she says.  “Yes, there is some natural slowdown in sales, as families tend to be hesitant to uproot children in the middle of a school year.  But in fact, many serious buyers regard winter as the ideal time to buy.  It provides an opportunity to view a house in its perceived worst possible condition, and to make a practical and unemotional assessment of the property.  If you can picture yourself being happy in a home in the middle of a cold, wet Cape winter, it is likely you will be even happier when summer comes.”



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Jan 2018
      Many people only start thinking about home-ownership when they are ready to “settle down” or start a family, which is why first-time buyers these days are generally in their mid-30s, compared to those in the previous generation who were usually in their mid-20s.
    • 22 Jan 2018
      Moving away from the city to a country or coastal town and a slower-paced life is a frequent new-year resolution for South Africans, but thorough research should be done before you break free from the hustle and bustle, because making the wrong move could turn out to be a very expensive mistake, and even more stressful for you and your family than staying in the “big smoke”.
    • 22 Jan 2018
      Cape Town is home to many breathtaking and historic homes, but House Invermark designed in 1969 by South African architect Gilbert Colyn, with inspiration from two modernist icons: the Glass House by Phillip Johnson and Farnsworth House by Ludwig Mies van der Rohe is in a class of its own.
    • 22 Jan 2018
      2017 was a challenging year for the South African property market in general, despite small pockets of thriving activity in areas like the Western Cape. As we head into 2018, Tony Clarke, Managing Director of the Rawson Property Group, casts his eye forward to property trends and market influences that could make their impact felt in the New Year.
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
        
    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