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.

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