Strong sellers' market now evident throughout South Africa's big centres

The boundary lines between the buyers’, sellers’ and an ‘even’ residential property market in which supply more or less meets demand tends to shift and to be indistinct – but in the City Bowl and Southern Suburbs of Cape Town, and indeed in the middle class suburbs of most of South Africa’s big centres, there can now be no doubt that a sellers’ market has arrived and has become well and truly entrenched.

This is the view of Wayne Albutt, the Rawson Property Group’s Western Cape Regional Sales Manager.

“Wherever the Rawson Property Group is active in South Africa’s big centres,” said Albutt, “the story is the same.  Stock is becoming harder to find, correctly priced houses almost always sell within six to eight weeks and prices are creeping upwards.  What this means is that any buyer who hesitates now will almost certainly find himself paying more in three to six months’ time.”

Like some other national estate agencies, said Albutt, the Rawson Property Group is finding that the new confidence and the strong demand are directly translating into increased sales.

“The group’s sales,” said Albutt, “in the third quarter of 2013 have been double those of 2012, which was already over 30% up on 2011.  The third quarter of 2013 was the best ever in the Rawson Property Group’s 31 year history.”

It is, added Albutt, gratifying that the upswing is no longer confined to the lower middle and lower price bracket homes.  In Cape Town the Rawson Property Group’s franchises serving suburbs like Constantia, Tokai, Wynberg, Bergvliet, Hout Bay, Milnerton and Melkbosstrand - and even outlying towns like Paarl - have all experienced unprecedented growth.

Repeating a message that he has propagated on several occasions, Albutt said that the rising market offers good opportunities to those who are contemplating a career move to real estate.

“Many of us in this sector,” he said, “had to endure the 2009 to 2011 and other recessions.  Those joining now can do so with confidence that the market is improving steadily and sales are now definitely achievable.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us