|The prevailing trend in the Cape residential property market for properties in the lower middle and lower class brackets to appreciate at a faster rate than those in the upper brackets is particularly evident in Kuils River, says Noelene Snyder, Rawson Properties franchisee for this area. |
“Homes selling a year ago for under R500 000 are now fetching R600 000, R700 000 or even more,” she said. “The area is booming: even at the higher levels we have seen R1 million homes rise in price to R1,5 million in less than a year.”
Similar price rises had been witnessed in Eerste River albeit in a lower price bracket.
“Here,” she said, “the price range is from R180 000 to R380 000 but average sales figures are 30% up on those of a year ago.”
Snyder’s franchise, which sells up to 20 properties per month, is establishing a subsidiary office at Eerste River.