PropertyFox Neighbourhood Insights – Jan 2019
We look back and share our insights on what the month of January brought for the property market in South Africa.
While the market remains in flux, with buyers largely calling the shots, viewings are increasing and despite some uncertainty around the country’s economy and land expropriation, there’s a lot of interest from buyers.
Catchment Area Season
Buyers were largely focussed on homes in catchment areas, compared to last month (December) when all buyers were mostly viewing in holiday destinations. This, of course, was because it was holiday season.
Catchment areas have a lot of infrastructure for buyers comprised of young families or working singles professionals. The most popular of these areas include: Claremont (Cape Town), Blackheath (Randburg), Pinelands (Cape Town), Paulshof (Gauteng) and Valhalla (Gauteng).
Viewings Are Up
Viewings increased across the board by a whopping 166%. This was expected, “as the holiday season is over and many buyers might have been preparing themselves to look for new homes in the new year,” says Demi Torr, Operations Co-Ordinator at PropertyFox.
Catchment areas have a lot of infrastructure for buyers comprised of young families or working singles professionals.
Our top areas where viewings were scheduled covered various parts of Cape Town and Gauteng.
Greenpoint showed an increase of 185%, and Pinelands by 157% – all areas in Cape Town.
Paulshof showed an increase by 144%, Blackheath (Randburg) by 160%, and Valhalla by 171% in the Gauteng Province. Blackheath is great up and coming area of Randburg offering more opportunity for young couples to get on the property ladder. It is also close to Primary Schools and Cresta Shopping Center.
According to Torr, “an area which remained a constant favourite among buyers is Glenvista (Gauteng).” Glenvista is a great residential neighbourhood with strong family values, offering opportunity from great entry level townhouses, to immaculately designed dream homes.
With January showing so much positivity thus far, 2019 seems promising for property – let’s hope this is the trend for the months to come!