2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • Lifestyle & Hospitality
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • Excellent News If You’re Looking To Sell Your ‘Affordable’ Home

    31 Oct 2019 by Carrie in Lifestyle, Property, South Africa
    Related Posts
    • Here's The Most Tax-Effective Way To Jump-Start Your Property Portfolio
    • 'Genuine Fear' - Journalist On Staying In SA's Toughest Prison [Video]
    • Insolvent Estate: Constantia Palace Goes On Auction
    • What R50 Million Buys You Property-Wise In Spain, France, And Switzerland
    • Patient "Can't Breathe" And Begs For Help In Harrowing Video From Inside KZN Hospital

    The property market in South Africa has had a bit of an unpredictable year.

    People have been struggling to offload high-end properties, often having to settle for below-asking price.

    Meanwhile, the ‘semigration’ trend has taken hold, which means that the property market in smaller, beachside towns like Plett and Arniston is booming.

    Last month it looked like things could be improving across the board, as prices stabilised.

    Now it looks like sellers looking to put more affordable houses on the market could be in luck.

    Business Insider SA looked into the FNB Affordable Housing Insight for the third quarter of 2019.

    South African residential properties priced between R250,000 and R500,000 are experiencing a strong third quarter, with some properties sold at 5% above asking price, a new report from FNB revealed.

    Only a third of the properties in the same price range, also called the ‘gap market’, sold for below the initial asking price, compared to 95% of properties in the higher end of the market.

    On average, properties in the R250,000 to R500,000 bracket remained on the market roughly 6 weeks, with 13 average viewings.

    In the higher-end market, properties spend 16 weeks on the market with 9.6 average viewers.

    In other words, affordable housing is on the up and up if you’re looking to sell, or build property to sell, in the coming months.

    “Prospective home buyers are looking and finding value in affordable housing. We believe that a better pipeline of supply, especially within the gap market, will go a long way to improving home ownership in our country,” FNB Home Finance CEO Lee Mhlongo said.

    You heard them. Get in there early, property developers.

    [source:businessinsidersa]

    • ← Best Halloween Costume Is Surely This Pixar Lamp Outfit (And Crazy Video)
    • Not Ideal: German Restaurant Mixes Up Dagga Cake With Funeral Cake →
    • Tweet
    • Tags:
    • buyers market
    • Houses
    • property
    • property prices
    • South Africa

    Latest News

    • Lift The Ban: Struggling Wine Industry Pens Open Letter To Ramaphosa 

      [imagesource:here] Banning the sale and onsite consumption of alcohol is a double-edged...

    • Here’s The Most Tax-Effective Way To Jump-Start Your Property Portfolio

      [imagesource: Flyt] There comes a time in life when discussions around the braai, or ov...

    • New World Record: ‘Keeper Hits Longest Goal Ever Scored [Video]

      [imagesource:here] As a goalkeeper, your main job is to make it to the final whistle wi...

    • That ‘Bernie Sits’ Meme Has Just Gone To The Next Level

      [imagesource: Getty] The US presidential inauguration brought with it many good things,...

    • Zoom In On This 10 Billion Pixel Scan Of ‘Girl With A Pearl Earring’ Painting

      [imagesource:here] We're all sick to death of Zoom ("Can you hear me now? What about no...


    • 2oceansvibe Partners

    • CONTACT US
    • GOT A HOT STORY?
    • 2oceansvibe Radio
    • 2oceansvibe Media
    • Media Pack
    • Seth Rotherham
    • Café du Cap
    • Cabine du Cap
    • Cape Town City Accommodation
    • Terms & Conditions
    • Business
    • Media
    • Entertainment
    • Tech/Sci
    • World
    • Travel
    • Lifestyle
    • Sport
    • Politics
  • Follow

    2oceansvibe.com is part of the 2oceansVibe Media Group

    DMMA Logo