The widely held view that many Capetonians, from what was once euphemistically known as ‘disadvantaged backgrounds’, want above all else to live in Plumstead, Wynberg and more expensive suburbs, is very far from the truth, says Georgina Lovell, Rawson Properties co-franchisee (with her daughter Andrea) for the Ottery and Athlone franchises – both of which have for some time been highly successful operations.
“These suburbs,” says Lovell, “are seen by many people as the ‘right’ place to live. They have a history behind them, they are well-established, they have good schools and attractive retail centres. They also have many greened park-like precincts and their well-knit communities have quite often lived there for generations. People are very definitely not in a hurry to move elsewhere.”
This, adds Lovell, applies especially to Ottery because it is in the fortunate position of having absolutely no subsidized or ultra-low cost units within its precinct. Even Athlone, which has some very high priced properties, does, she says, have a few areas in which subsidized housing is still evident.
Prices in both suburbs, says Lovell, have already risen by 6% or 7% this year and she predicts that the year-on-year total increase will be around 8%. This rise, she believes, will continue into 2013, but probably at a slightly slower rate.
In both suburbs, says Lovell, it is still possible to find attractive sectional title units for as a little as R450,000 – the average price is around R650,000 – with the same space and good features available elsewhere at higher prices.
Buyers, says Lovell, are aware of this and if only more bonds could be approved, she says, she could be selling far more homes each month. Already the combined sales figure for both suburbs is well into the double digits and one indication of just how strong demand has become is shown by the fact that one agent, Pedro Visagie, recently sold five houses in one month.
Properly priced property, says Lovell, will almost invariably sell within one month and few take more than two to two and a half months. Both Rawson Properties’ Ottery and Athlone figures are way ahead of the national average and both franchises, she says, have established dominant positions in their areas and are closely linked to local communities.
Her franchises employ six to eight agents each; with one or two handling rentals.
Here, too, she says, a noticeable pick-up has occurred this year, with two bedroom apartments now commanding rentals of R3,500 or R4,000 per month and freestanding homes are usually able to command rents of R6,000 to R8,000 per month.
“If the figures I have quoted create the impression that both suburbs are riding a big wave, that is in fact what is happening,” says Lovell. “I am very happy to recommend almost any buy in the area at the moment because sales and prices are continuing on an upward curve.”
She attributes much of the success of these franchises to the excellent training that the Rawson Property Group offers.
Georgina has been with Rawson for 17 years and franchisee of the Ottery & Wynberg areas for 12 years. Andrea has been with Rawson for 11 years and franchisee of the Athlone/Crawford areas for six years.
“We always try to give a quality service to our clients. We assist them with sales, letting, finance, attorneys, commissioners of oaths and have even on occasion officiated the marriage of her clients.”
