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
    • 25 May 2018
      Reliable public transport systems moving a mass of commuters to and from work, keep a city’s economy moving. Not only do they have a positive impact on economic growth, successful rail links also influence property values.
    • 25 May 2018
      The live, play and visit environment that Centurion Residential Estate & Country Club offers continues to attract buyers looking for a very specific lifestyle and ambiance.
    • 25 May 2018
      As expected, the Monetary Policy Committee kept the repo rate stable, with analysts and market commentators ahead of yesterday's announcement (24 May 2018) pointing to a more hawkish stance amid a weaker rand, somewhat less stable global environment, and an eye on the inflation outlook – coupled with the increase in VAT and sizeable hike in the price of fue
    • 24 May 2018
      Most real estate professionals agree that 2017 was one the toughest years to date; an eminently challenging 12 months that subdued even the strongest markets - including the country’s economic powerhouse of Sandton.
    • 24 May 2018
      These are uncertain and challenging times for the real estate industry, but the non-profit organisation Rebosa is fighting for their interests and finding pragmatic solutions to industry issues such as the urgent need to fast-track transformation says Richard Gray, Rebosa chairman.
    • 24 May 2018
      The decision to invest in property isn’t one that’s taken lightly, or dealt with flippantly. The same should ring true when deciding on an estate agent partner to handle the letting out of your property.
    • 23 May 2018
      Homeowners who are thinking of selling and “trading up” to a bigger or a better home had better be quick now if they want to get the best deal.
    • 23 May 2018
      The new Loftus Park development in Arcadia is really going to boost the demand for homes and rental accommodation close by and the neighbouring suburb of Sunnyside, says Gerhard Kotzé, MD of estate agency group RealNet Holdings.
        
    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