Numerous predictions made by herself and other estate agency principals in Paarl to the effect that the demand for residential property in that town is increasing all the time – and is pushing up prices – have in the last three to four months been proved completely correct, says Lizette Joubert, franchise principal for the Rawson Property Group’s Paarl franchise.
On several recent sales, said Joubert, her team has received two or three offers, very often backed by an ability to pay big deposits (in the region of 25% to 50%). Furthermore, she said, trading conditions have been improved by the banks adopting a more accommodating approach to potential buyers.
Historic central Paarl, said Joubert, has always had a slightly superior upmarket image and the majority of recent sales here have been in the R1,6 million to R2,4 million bracket – and it is here, too, that demand is strongest. Prices, she said, are 5% up on the same time last year and her franchise’s sales are 38% up, which keeps her in line with the Rawson Property Group’s national average.
Also showing big increases are Paarl rents, which, Joubert estimated, have grown by 80% in the last year. Capitalising on the demand, Joubert has bought the entire rental book of another national agency and this has more or less doubled the Rawson Paarl team’s managed portfolio.
Joubert has, on several occasions, stressed that the entire residential estate agency sector depends to a large degree on accurate valuations and the ability to do these requires thorough training.
“In this field, I believe, we have been performing exceptionally well. Our agents, have recently done around 52 valuations in two weeks and these have proved to be so well researched that we have now been recommended by current clients to others who are also interested in knowing the correct market value of their homes, possibly with a view to putting them up for sale.”
Asked to explain Paarl’s on-going popularity, Joubert listed several factors: the town’s attractive historic central area, its excellent schools (some now over a century old), its low crime statistics, its Platteland lifestyle, its efficient municipality and its still affordable prices.
“This combination of factors puts Paarl on the same level as Stellenbosch as regards popularity in the Boland, the difference however being that our prices are still far more affordable,” said Joubert.
