Homes in the affordable sector of the market are selling readily in Springs on the East Rand in spite of continuing problems with obtaining bonds.
Elizabeth Masemola, who recently opened a RealNet agency in the town, reports that there is particularly healthy demand for properties costing less than R500 000 but that properties across the price spectrum are still drawing buyers.
Masemola, who has been active in Springs for the past six years as an agent with two different real estate groups, decided to open her own franchise, encouraged by her stellar sales performance in the area. Her decision was vindicated within the first month of opening when her office sold a total of 17 units, followed by 13 more the second month.
"Although the RealNet brand is relatively unknown in this area, we have made a very satisfying impact on the local market and expect to push up our performance as we become better known," says Masemola. "We are already seeing an increase in the number of walk-in clients as well as clients referred by satisfied buyers. And bringing the brand to neighbouring towns on the East Rand is part of our longer term goal."
Local buyers looking to get a foothold in the market are targeting affordable housing. Masemola says basic two-bedroom units in KwaThema can still be had at prices starting from about R200 000.
"Most transactions are indeed taking place in the more affordable price spectrum, but there is a sprinkling of sales in price categories up to R2m. The Springs property market is mainly supported by local buyers upgrading or entering the market thanks to lower interest rates, but buyers transferred to the East Rand by their companies are also evident," she says.
Springs offers all the amenities of an established town and Masemola adds that it benefits from a sound infrastructure and good access to highways linking it to Johannesburg and the rest of the East Rand.
Issued by RealNet