The main reason why a property does not sell is typically because it is overpriced relative to similar properties or the current market conditions, according to Seeff Property Group. Seeff said that an unrealistic asking price extends the selling timeline which means more days of keeping your home show-ready, extra marketing costs accruing, and potentially missed opportunities on other properties you might...
Small towns in the Western Cape are booming when it comes to property sales as more and more people are looking to move to smaller coastal areas.According to the Seeff Property Group, West Coast towns and villages are no longer just for holidays and retirement.The areas of Langebaan, Yzerfontein, St Helena Bay and Elands Bay have seen a strong shift in sales activities during the market boom of...
Buying property maybe one of the largest investments that people will ever make and while the property gain value over time, people will still want to get the best possible return on their investment when it comes time to sell.Determining the value of property is not as simple as people might think but there are several factors to consider in evaluation process.Arnold Maritz, co-principal, Lew Geffen...
A home is one of the biggest investments that you will make in your lifetime, so when it comes time to sell it, it is crucial that you set yourself up for success.Grant Smee, Managing Director, Only Realty Property Group said: “Making informed decisions early in the process can be the difference between profiting from the sale of your home or potentially facing a failed transaction.”According to Smee,...
Within the local housing market, some markets are far outperforming others. While market conditions are slow in provinces such as Gauteng, the Western Cape is experiencing somewhat of a boom. According to the RE/MAX National Housing Report for Q2 2024, the Western Cape claimed all five spots for the top searched suburbs on remax.co.za. House prices in this province are also significantly higher than the...
There was muted growth in the housing market in the second quarter as owners awaited the outcome of the national election, but listing prices as measured by one large estate agency were up 7%, indicating improved confidence in the market. RE/MAX of Southern Africa CEO and regional director Adrian Goslett said it was no surprise that the housing market would remain subdued until there was greater...
August 2024 The second quarter of 2024 was filled with anticipation as South Africans cast their votes on 29 May and celebrated the outcome of the Government of National Unity announced on 19 June. “With so much going on this quarter, it can be expected that growth within the local housing market would remain subdued until there was greater clarity on the way forward,” says Adrian Goslett, Regional...
The average selling price for a house in Clifton has soared to R43.9 million this year based on sales data. This is more than double the average for Camps Bay, the second most expensive suburb this year on the Atlantic Seaboard in Cape Town, according to the Seeff Property Group. Only about 20 houses and 5 apartments sell on average each year in this small suburb. Yet, says Jo Lombard, a luxury sales...
Property buyers are flocking to Cape Town’s Atlantic Seaboard and City Bowl area, and they are coming from all over. Six of the highest sales in Cape Town concluded this year were to buyers from Gauteng who paid between R26 million and R66 million for houses on the exclusive Atlantic Seaboard, says Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl. Buyers from KZN paid between R28 million...
Billions of rands have been flowing into the Johannesburg real estate market since the start of 2024 and especially since the formation of the Government of National Unity (GNU) in early June, which has brought about a sharp increase in business and investor confidence in SA’s economic prospects. That’s the word from Rory O’Hagan, principal of the Chas Everitt Hyde Park & Sandton branch, which...
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