PropertyFox Neighbourhood Insights – August 2018
We look back and share our insights of what the month of August brought in terms of property.
Another Point of View
We saw a slight decrease in viewings in the month of August. Winter usually brings a decrease in viewings, so this was expected. Compounding the tough current economic and real estate climate, winter further impacts interest in the real estate market. We typically see a drop industry-wide in viewings and sales throughout June, July and August, and this year was no different, this despite the fact that we are outperforming our peers.
Top Performers in August
Claremont continues its high-interest streak (increased by 143%) and Mowbray (123%) in Cape Town’s Southern Suburbs were some of the most popular areas this month. High-value homes in these areas are sought after with many potential buyers going above the R4.5 million mark. Muizenberg, in Cape Town’s Southern Peninsula, continues staying popular with potential buyers.
In Other News
Further proof that PropertyFox is at the top of the game when it comes to valuations, a property in Kelvin Grove, Gauteng, received an offer to purchase within five days of being listed, according to latest FNB Housing Index Report, this is 109 days quicker than the national average. How do we do this? We rely on a team of super clever data analysts using proprietary analytics software to make sure that your property is priced right, and therefore sells faster.