select
|

East London Buyers vie for good value

East London buyers are keeping a sharp eye out for well-priced and spacious family homes as stock levels in the lower price ranges dwindle fast, says local Chas Everitt East London and King Williams Town franchisee, Clinton Krouse.


5 Bedroom House for sale in Gonubie, East London

"The stock shortages in East London property seem to have spurred local buyers to act sooner rather than later and the really strong demand for homes priced at less than R1,1 million has boosted buyers' confidence that now is the time to buy," he says.

"But East London buyers are very value-driven and large family homes in areas such as Cambridge, Sunnyridge and Haven Hills are finding particular favour among the younger buyers who are upgrading to accommodate growing families. Our sales over recent months and interest in these particular East London suburbs by an ever increasing number of interested buyers substantiates this 100%"

Homes priced at up to R1,1 million in these areas typically offer three large bedrooms with the main bedroom en-suite, spacious living areas and a single or double garage. "These homes compare very well with those in other East London suburbs, but because they are further away from the city's top schools, prices are more favourable," says Krouse.

Meanwhile, a fair percentage of upgraders are moving from the sprawling Mdantsane township to the suburbs of East London as their families grow and their economic prospects improve and this, in turn, is opening up opportunities for first-time East London buyers, who can obtain mortgage bonds on basic homes at prices starting as low as R220 000, he says.

"And there is very strong demand now for these starter unit homes in Mdantsane, which are selling quickly whenever they come onto the market."


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Sep 2017
      Participate in a research project about consumers’ willingness to purchase real estate online, conducted by the University of Stellenbosch Business School, MyProperty and Entegral.
    • 20 Sep 2017
      Broker/Owner of RE/MAX Living in Cape Town’s City Bowl and Atlantic, Gerlinde Moser, is the definition of success. She the first real estate professional within Southern Africa to be awarded the Luminary of Distinction, the highest distinction of three career awards given by RE/MAX International. In fact, she is only one of two people outside of North America and Canada to receive the award.
    • 19 Sep 2017
      The requirements for renting a residential property have become more and more onerous on prospective tenants as landlords have become increasingly circumspect as to who they let their property out to
    • 19 Sep 2017
      In South Africa braaing is more of a religion than a mere pastime. Firing up the perfect coals and grilling the most flavourful meat is not just an activity; it’s something of an art form. “Braaing is in every South Africans blood, there's just something about grilling meat outdoors that appeals to everyone, regardless of their economic status, race or cultural background” says Craig Hutchison, CEO Engel & Völkers Southern Africa.
    • 19 Sep 2017
      According to Adrian Goslett, Regional Director and CEO of RE/MAX, homeowners who wish to obtain the highest possible price for their property, within the shortest time frame, will need to ensure that their home makes a good first impression and stands out from the crowd.
    • 19 Sep 2017
      The SA Reserve Bank (Sarb) is likely to cut interest rates by 25 basis points to 6.5 percent when its monetary policy committee (MPC) meets on Thursday due to moderating inflation.
    • 18 Sep 2017
      The ‘new’ West Rand of Johannesburg, which stretches from Weltevredenpark to Pinehaven, offers a healthy mix of properties according to Francois du Pisani and Werner van Schalkwyk, new licensees of Fine & Country West Rand.
    • 18 Sep 2017
      It is particularly important for landlords to screen their tenants properly while they are in the application phase for a property, so that there is a reduced chance of a lack of payment or a breach of the contract in some way, says Sunell Afrika, rentals manager for property company SAProperty.com.
        
    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