Residential property in the Kuils River and Eerste River precincts is today more sought after than ever before – with the result that Noelene Synder, the Rawson Property Group’s franchisee for this area, will, she said, by the end of this year have raised her turnover by 40% and will be employing 12 agents (four more than her current complement).
“The big surprise,” said Snyder recently, “is that people have been buying steadily throughout the winter. Traditionally the market at this time goes very flat, but this winter we have been selling 15 to 20 homes per month.”
This, she added, pleases her because she has always advocated putting homes on the market and holding show days in winter for the simple reason that the buyers who turn out at this time of the year are serious about purchasing. From the buyer’s viewpoint, she added, it is also a good idea to hunt for a home in winter because leaks, damp spots and poor drainage, both internally and externally, are more likely to be evident in the wet months.
Demand for homes at Kuils River, said Snyder, is strongest in the R750,000 to R1 million bracket, but there is almost the same number of buyers trying to buy homes with values of R500,000 to R700,000. This means that the fastest selling areas today are Kuils River Central, Mabille Park, De Kuilen and Sarepta for the more expensive homes and Forest Heights and parts of Eerste River for the less expensive homes. For those looking to pay in the R350,000 to R500,000 bracket, the area can produce homes in this price band in certain parts of Sarepta, Highbury Park, Sunbird Park and sections of Eerste River. There is, therefore, a very wide range of prices available at the lower end of the property market throughout Kuils River.
The good news, from a buyer’s viewpoint, said Snyder, is that there has been sufficient stock on the market to keep prices from rising fast and thus far they have remained fairly stable.
The bad news, she said, is that a very high percentage of potential buyers in the Kuils River precinct tend not to qualify for bonds until they have been coached and mentored by a good agent, a process which can take time.
Asked if the upper bracket market is flourishing as well, Snyder said that the well-managed, ultra-sophisticated Zevenwacht Estate has bucked every trend and, with plot prices at R4 million to R6 million, is a phenomenal success. Elsewhere in the district any property over R1,1 million, she said, tends to stick on the market for a considerable time, with the result that some excellent buys still await those looking for a bargain. For example, this franchise is marketing a smallholding in the attractive, very rural, Penhill Estate which is ideal for horse lovers (and even has smallholdings with sheep) for a very reasonable price. In other parts of the Greater Cape Town area, said Snyder, properties of this kind would be selling at well over R3 million.
Capping her comments, Snyder summed up the current situation by saying that if, as is often said, residential property buyers want to ensure that they get in ‘on the ground floor’ when the market is rising, Kuils River is the area which they should be investigating, especially if they are investing to rent, because rents at the moment are rising by 10% per annum.
