select
|

First time buyers expected to dominate Tableview market

There is no doubt that the current market is ideal for first-time buyers and it is likely that they will take full advantage of the favourable housing market conditions during 2013, says Caron Leslie, Broker/Owner of RE/MAX Property Associates, whose office service Tableview and the surrounding areas.

She notes that regardless of what type of property buyers are looking for, aspects such as competitive house prices and affordable interest levels have opened up the current market to many more first-time buyers across the country.  “We have seen a more positive sentiment among consumers in Tableview who are confident about property ownership. While there is still a strong demand in the rental market, due to the fact that access to finance is holding many buyers back, those who have the required deposits and good credit records are excited about buying their own home and are aware that they will find ideal investment options in today’s housing market.  The number of first-time buyers is growing in our areas of operation and we expect that they will be the predominate type of buyer purchasing homes throughout this year,” says Leslie.

Adrian Goslett, CEO of RE/MAX of Southern Africa, agrees, saying that according to First National Bank figures; first-time buyers across South Africa account for nine out of ten buyers in the affordable housing sector. He notes that favourable market conditions along with the increasing price of rentals have made homeownership a far more attractive option to consumers. Goslett says that many consumers also realise that property prices are only going to start increasing with time and thus buyers are experiencing a sense of urgency to get into the market before this happens.

According to Leslie, the fact that buyers are looking for affordable homes that are close to amenities and major transport routes make areas such as Tableview an ideal investment option. She notes while the area offers an exclusive lifestyle with pristine beaches, views of Table Mountain and top-class amenities, it also offers property that is well-priced. “Tableview offers buyers good value-for-money properties, while still giving them the sought-after coastal lifestyle. Buyers are able to find two-bedroom apartments and duplexes that are priced from below R500 000 to R700 000. Many of these are ideally positioned and offer modern finishes. These are model properties for both first-time buyers and property investors looking for options with favourable rental and investment returns,” says Leslie.

One of the properties being marketed by RE/MAX Property Associates in Tableview is a top floor one-bedroom apartment priced at R425 000. This home is an ideal buy-to-let option or the perfect starter home for a first-time buyer.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
        
    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