Pretoria property market offers great opportunities for sellers, says Seeff

Pretoria property market offers great opportunities for sellers, says Seeff

Category Property Markets

The Pretoria property market up to R3 million to R4 million is offering great opportunities for sellers according to Seeff’s branches.

Gerhard van der Linde, managing director for Seeff Pretoria East says there is a high level of activity in price ranges up to R3 million with stock now running at low levels as buyers continue to take advantage of the favourable interest rate.

Selling in this price sector means that sellers can also take advantage of the interest rate to buy up, he adds. While the area does not cater for typical first-time buyers, there is a definite increase in the number of tenants who can now afford to buy rather than rent as a result of the low interest rate.

In the context of the Covid Pandemic, Seeff Pretoria East enjoyed an outstanding year in 2020 with sales of up to R6.5 million in Groenkloof, R7.33 million in Mooikloof Equestrian Estate and R8.25 million in Waterkloof Ridge.

While it is expected that the market may settle back this year, demand remains high for properties which offer security. Mr Van der Linde says that aside from security estates, boomed off areas across all residential suburbs which offer high levels of physical security presence are in high demand.

A neat and well-presented property which is correctly priced for the market can sell within seven to thirty days, he says.

Tiaan Pretorius, manager for Seeff Centurion says they are expecting that their market may improve on last year. It could be a bit livelier this year in view of the expectation that the interest rate will stay low for a while depending on possible economic limitations due to lockdown restrictions.

Here too, there is opportunity for sellers. Where the highest activity initially started off in the R650 000 to R900 000 price range, there is now massive demand for estate properties between R2.5 million and R3 million.

The highest offer received in the last year was almost R8.9 million for a home in Midstream Estates. Seeff also sold properties in Southdowns, Centurion Golf Estate and Midstream in the R5 million to R7 million range.

The majority of our sellers are upgrading to another property. If priced correctly, a property can sell within days. Nearly 40% of Seeff’s sales are concluded in under 21 days and the median for last year was 46 days.

The majority are first time buyers with the balance looking to upscale. Buyer demand is healthy in most price bands. There is high demand for townhouses between R650 000 to R900 000, freestanding homes in the suburbs in the R1.4 million to R1.9 million range and in security estates between R2 million and R3 million depending on size and what the property offers.

Hot spots for buyers include Die Hoewes which is close to the Gautrain Station and main amenities and is great for first time buyers and investors. Amberfield in Central Centurion offers excellent value in the R1 million to R2.5 million price range. Midstream is a great estate for buyers in the R2.8 million to R6 million price class and offers a lot including good schools, top class security and a great location between Johannesburg, Pretoria and Ekurhuleni.

For the best results, sellers should ensure their property is in tip-top condition and award a sole mandate to a trusted agent who will pull out all the stops to get the property sold at the best price in the shortest time, says Van der Linde.

Buyers in the high-demand price bands and areas should ensure they are ready to buy, he adds. Obtain a pre-approved bond and make sure that you fully understand the financial implications and financial requirements of the transaction.

Photograph
Woodhill Golf Estate - R8.85 million for a super luxury home in immaculate conditions with spacious living areas, a gourmet kitchen, large bedrooms and a magnificent outdoor entertainment area and swimming pool and garaging for four vehicles overlooking the golf course greens
https://www.seeff.com/results/residential/for-sale/pretoria/woodhill/house/153132/

Author: Gina Meintjes