select
|

Sales boom in Johannesburg southern suburbs

Lower priced homes in Johannesburg’s southern suburbs are selling like hotcakes to young couples keen to get a foot on the property ladder.

That’s the word from Jacques Bronkhorst, owner of the Chas Everitt International franchise in Glenvista, who says: “One of our top sales areas at the moment is Eldorado Park, where small three-bedroom homes priced at between R450 000 and R650 000 are being snapped up fast – usually within a month of being listed – and frequently attract multiple offers.

“Most of these homes are being purchased by first-time buyers who work in the financial services industry, have clean credit records and are able to secure 90% to 100% home loans.

“As for the sellers, most have owned their homes for between five and seven years and are now keen to upgrade to areas like Mondeor and Winchester Hills, where property prices generally range from R850 000 to around R1,2m.”

Meanwhile, he says, a stream on first-time buyers from Soweto are eagerly taking up two and three-bedroom starter homes and townhouses in areas such as Naturena and Meredale, at prices from around R380 000 to R500 000.

All this activity is due in part, Bronkhorst says, to a growing awareness of the benefits of home ownership as opposed to renting – and of the current opportunities in the market due to unusually low interest rates combined with still-low prices. “And it has contributed to an increase of more than 264% in the number of homes sold by us in March and April compared to the same months of last year.

“However, the other part of this story is our own growth and ramped up listing and marketing activities since the agency converted to the Chas Everitt International brand in February.

“No less than 15 new agents have flocked to join us in the past three months – many of them from other ‘big-name’ agencies. Others have given up running their own independent agencies in favour of working under the Chas Everitt banner and a few are new entrants to the real estate industry who were attracted by our recruiting campaigns.”

This, he says, has enabled the agency to extend its services and increase awareness of the brand, which is rapidly becoming a dominant player in its areas of operation. “We are getting tremendous support from local communities as word gets around about the effectiveness of our agents and marketing methods - and we are committed to getting even more properties sold in the next three months.”



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
        
    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