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.”

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