FIND PROPERTY FOR SALE IN SOUTH AFRICA

An increasing number of homes in Pinelands are spending less than a week being listed before being sold. PropStats figures reveal that of the homes sold in Pinelands over the past six months 19 out of 26 (73%) spent less than 30 days being listed before being sold, while the average listing period for this group was 6 days. Over the six months preceding that (1 March 2012 to 30 August 2012) 10 out of 21 houses sold spent less than 30 days on the market – the average days listed before selling was 5.4 days. “Unlike many other areas in and around Cape Town, where sellers must often sit tight for an average of 60 to 90 days at the least and in many cases a lot longer, the listing time in Pinelands is often minimal due to a high demand for affordable accommodation which delivers good value,” says Mike Greeff, CEO of Greeff Properties, an exclusive Affiliate of Christie’s International Real Estate.  “Pinelands offers excellent value for money and attracts young buyers who see the possibility of purchasing a generously sized and affordable family home,” says Greeff. In Pinelands, three to four bedroom family homes  with two bathrooms,  a garage and pool, on a plot measuring 700 to 1000 m² are priced at around R2 million and under. “Bonds are more accessible in this price bracket,” adds Greeff.

According to PropStats for the period 1 January 2013 to 30 April 2013 there were 14 sales of free- standing houses in the Golden Mile area compared to 21 sales for the same period in 2012. “There are fewer sales since there have been fewer homes on the market, however, the PropStats figures reveal that the average selling price of free-standing homes in the area rose by 6.3%, and the difference between the asking price and selling price dropped by almost 5% to minus 6.7% when compared to the first four months of 2012,” says Mike Greeff, CEO of Greeff Properties, an exclusive Affiliate of Christie’s International Real Estate. “When the differential between asking and selling price narrows, it’s usually an indication that sellers are being more realistic in their pricing, but in The Golden Mile, the  current stock shortage has made buyers keen, and in many cases perhaps more willing to pay a little more for the coveted  area,” says Greeff.  He notes that a further indication that sellers in the suburb are currently enjoying an advantage is the sharp decrease in the amount of time properties are spending on the market; “In the first four months of 2012, according to PropStats, the average time a property in the Rondebosch Golden Mile area spent on the market before being sold was 70 days – for the same period in 2013, the average days listed before sale was down to 42,” says Greeff.

“With the additional compliance certificate now required for electric fencing, sellers or lessors should ensure that service providers are in fact accredited with the Department of Labour  to perform relevant inspections and issue a valid certificate,” says Mike Greeff, CEO of Greeff Properties, an exclusive Affiliate of Christie’s International Real Estate. The law is relatively new and not all inspectors have the correct accreditation, however The Department of Labour has now issued a list of accredited inspectors and The South African Electric Fence Installers Association has announced that temporary accreditation for electric fence inspectors which is valid until 1, October 2013 is now being enabled to allow for compliance with the electric fence regulations.

Solid brickwork, spacious rooms and genuine olde worlde charm define the Cotswolds, one of the Kenilworth’s oldest residential precincts.  Built between 1940 and 1943, the Cotswolds is likely to be one of the last few remaining share blocks in Cape Town, according to its chairman, Roger Ward. However, all is about to change as the Cotswold shareholders have passed a resolution to transfer the Cotswolds’ share blocks into sectional titles, and the process is underway.

PropStats figures for the sale of free-standing homes in Bergvliet for the period 1 January to 26 March 2013 show that the average selling price was R2.4 million – an increase from R2 115 000 which was the average price for the same time period in 2012.  A similar trend was noted for free-standing homes in Meadowridge where the average selling price rose from R1 956 000 for the period 1 January to 26 March 2012 to R2 287 000 for the same period in 2013. “While average prices are up, the number of actual houses sold, when compared to the same time period in 2012, is slightly down, but this is due to a shortage of stock and a healthy demand for homes in these areas,” says Mike Greeff, CEO of Greeff Properties, an exclusive Affiliate of Christie’s International Real Estate. “The demand is for three and four - bedroom family homes from a range of would-be buyers including expats – mostly from the UK – who are returning unencumbered as they’ve been renting overseas, so these offers are not conditional, and therefore usually snapped up,” adds Greeff.  Greeff agents for Bergvliet and Meadowridge have reported extremely well attended show days and multiple offers on ”for sale” properties.  “At a recent show day for a  four-bedroom, four-bathroom house in Meadowridge,  we received 31 visitors, seven of whom were  interested parties, which resulted in four  offers and a clean sale within three weeks,” says Greeff , adding that  enquiries on this particular home were received from the UK, Germany, Dubai and America and there was a cash offer from Australia.