Cape Town - There is only one way to ensure a quick sale on your property, and that is to price it correctly and realistically from the get-go, according to property experts at Seeff.
In current market conditions, astute buyers do not pay a premium for property.
They do their homework, look at all of the available stock and often play a waiting game where they wait for a property price to drop before making a reasonable offer, according to the agents.
Marketing a property for too long may cause purchasers to lose interest, or even convince them that the property has some problems and this could then eventually result in it being sold at a price far below the market value.
Seeff Properties asked some of its experts in Gauteng to reveal the fastest selling suburbs in their licence areas.
In all of these suburbs the days spent on the market were not only considerably lower than the national average, but also lower than the Gauteng average.
The suburbs are:
Broadacres and Maroeladal (Fourways area)
Charles Vining, Seeff’s managing director in Sandton, says Broadacres is a suburb close to the Fourways Life hospital, and is nestled between the gated communities of Cedar Lakes, Fourways Gardens and Steyn City.
“Our office has made 17 sales in this suburb for the year so far at an average of 56 days on the market. A few homes that were priced at R2.4m, R1.1m, R1m and R900 000 were sold on the very same day of listing," he says.
Seeff Sandton has made 13 sales in Maroeladal since March, and properties here spent an average of only 40 days on the market.
"The property that took the longest time to sell was priced in the mid-R3m and took only 98 days to sell - therefore this is still lower than the national average,” says Seeff.
Weltevreden Park and Roosevelt Park (Randburg)
Chris Hajec, Seeff’s managing director in Randburg, says the average days on market for their office in both these suburbs was just under 30 days, keeping in mind that properties in the lower to medium price range tend to sell in the first or second week when they are properly priced.
“The average gets extended beyond this period when you factor in the homes that are unrealistically priced and at the upper end of the price spectrum,” he says.
Hajec describes Weltevreden Park as a well-kept and attractive suburb which is community and family orientated. He says the suburb offers a wide array of amenities, proximity to both public and private schools and Wilgeheuwel Hospital.
"It is conveniently situated immediately adjacent to the N1 and it is a good midway point for Sandton and the West Rand, with access to all points in Randburg.
"While there is a wide range of pricing, there is also a sizable amount of affordable stock for entry-level buyers with freehold property being split almost equally between two average price points of R1.3m and R1.5m," he says.
Roosevelt Park is a small suburb in the Randburg area with an average price point of R1.95m, but with entry-level homes starting at an average of R1.4m.
Kibler Park and Alveda Park (Johannesburg South)
Trevor Sturgess, Seeff’s managing director in Kibler Park, says in these two suburbs property priced at R1.25m and less sells in an average of 54 days of listing.
“The prices in both these areas range between R650 000 and R2m and this, coupled with factors such as being only 15 minutes away from the Johannesburg CBD and close to the M1 highway, make them very popular," he says.
Glen Marias and Van Riebeeck Park (Kempton Park)
André Landman, Seeff’s managing director in Kempton Park, says younger people favour Glen Marais because of all the modern, secure estates and extras like fibre networks and free Wi-Fi it offers.
"Homes here sell for between R2.5m and R3.5m and are only five minutes away from OR Tambo. When priced correctly, they sell within 60 days."
Landman says Van Riebeeck Park offers more established developments and free-standing homes on large stands which are priced between R1.5m and R2m.
“Properties in Van Riebeeck Park that are located in secure states are sometimes snapped up in only 45 days."
Faerie Glen (Pretoria East)
Jimmy du Preez, a property expert with Seeff in Pretoria East, says properties sold here in 2017 to date spent an average of only 30 days on the market.
“Quick access to the Eastern Central Business District, known as Menlyn, OR Tambo airport, N1 and N4 highways, hospitals and leading schools make this one of the most popular living areas in the Tshwane Metropole," he says.
Property prices range between R1.5m and R2.5m.
Eco Park in Highveld and Heuwelsig Estate in Monavoni (Centurion)
Steve van Wyk, Seeff’s managing director in Centurion, says property in the these areas sell within six weeks (42 days) of listing when they are priced correctly. Property in both these areas range between R800 000 and R2.5m.
“The reason that property here sells in half the time than in the rest of Gauteng includes the fact that these suburbs offer lock up and go units that are extremely sought after, (offer) value for money and are located in close proximity to highways, schools and all amenities,” he says.
Mahube Valley and Capital Park (Pretoria North)
Peter Mokwana, Seeff’s managing director in Pretoria North (Jacaranda), says although properties in these two areas differ vastly, the average days spent on the market is around 35 days for both.
Mahube Valley is a new suburb at the top end part of Mamelodi with a price range from R450 000 to R800 000, while Capital Park is an established area which is nestled against the mountain with a price range from R750 000 to R1.2m.
"Although Capital Park is a quiet suburb, it is very close to the centre of town where many government employees work and it is extremely sought after,” he says.
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