Competition in Knysna arresting price escalation
KNYSNA - Competition among a new wave of developers in Knynsa is preventing prices from escalating, according to Peter Southey, Rawson Properties’ franchisee for Knysna and George franchise, who reports that in the last 24 months some ten new developments have replaced old homes standing on single plots. Prices in the new developments range from R495 000, for a single room bachelor pad, to R2,4 million for a three bedroom penthouse. Apartments with lagoon views command 40% higher prices than those without views.
PGP KZN reports R285m sales in June
DURBAN - The KwaZulu-Natal region of Pam Golding Properties reports sales of R285 million for June, R70 million or 24,6 percent up on the same month of last year and exceeding budgeted turnover. Barbara Becker, manager of PGP's KZN region says while the volume of units sold has remained constant, the value of transactions concluded has increased, which indicates that house values have increased.
A Mortgage Loan plans five more branches
CAPE TOWN - Cape Town based mortgage originator A Mortgage Loan has recently opened two new branches in Langebaan and George and plans are afoot for opening a further five branches elsewhere in South Africa, according to CE Anthony Smook. Smook says while home loan approvals are taking longer with the NCA those applications that have been rejected would almost certainly not have made the grade under the previous system.
Tract of sea frontage for sale near Stilbaai
STILBAAI - Leven Point, a 22 ha tract of Fynbos-rich land, near Stilbaai in the Western Cape has come onto the market seeking offers from R13,5 million. Wendy van Heerden of Lew Geffen Sotheby’s International Realty, Mossel Bay says that Leven Point has never been developed, but permission for three separate dwellings is in the pipeline. The land is currently zoned for agricultural use. Nearby attractions include the Blombos Caves, a UNESCO world heritage site, where archaeologists have discovered important artefacts, including manmade tools dated at 70 000 years old.