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The tale of two
MARKETS
THROUGHOUT THE NEXT FEW MONTHS, PROPERTY GURU DAVE JONES WILL GIVE US VALUABLE INSIGHT INTO TRENDS AND NEW DEVELOPMENTS IN THE UPPER HIGHWAY AREA
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s a resident of the Upper Highway area since 1991, Dave is the proud parent of six children and grandparent to four. His previous careers include education, industrial relations and human resource management, and he now has 18 years’ experience in real estate – including six years as Seeff KZN Regional Manager. With practical experience as a developer, Dave has built 70 homes in secure estates and sold over 510 properties in the area – giving him an in-depth knowledge of the market trends in our community. Since returning to full-time work this month, Seeff Hillcrest and Kloof’s experience has been more than “business as normal” across all price ranges – with 13 sales in the first week of June alone. The Upper Highway area is fortunate that as a result of ongoing multi-faceted development, the sales tempo of number of sales made increased by 20% in 2019 compared to the previous year. The market remains oversupplied in most price segments, and we are in a Buyer’s Market Phase. Buyers have more choice, and this creates an opportunity for some aggressive purchasing to take place. On the other hand, sellers need to take care in pricing their property correctly in a market which is over
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stocked in some categories. The “tale of two markets” in the Upper Highway area has two distinct parts to it. The first part is that there is a brand new market called Apartment Living; a younger market aimed at first-time buyers, which focuses mainly on the submillion rand properties. This is seen as a positive trend for the area, as people who have grown up here can also buy here. The second part is the Traditional Second-hand Market, which itself is split into two distinct markets – that which is selling, and that which is not. It has become a reality that in the traditional market, we are in a period that we call
Price Adjustment – where many properties coming on to the market now are coming on at 2015/2016 prices, if they are to be competitive due to high stock holding. The downsizing trend as a reason for selling is strong, and this includes not only those who want something smaller in size, but also those who wish to downscale economically. The availability of stock, great values, excellent schooling and a more relaxed outdoor lifestyle makes the Outer West a targeted area for buyers. The industrial growth of Hammarsdale
There is a brand new market called Apartment Living; a younger market aimed at firsttime buyers and Cato Ridge, due to the inland container terminal, will also positively impact the residential market. 40 ON ASSAGAY is one of Seeff’s latest boutique developments, with only 11 units boasting a modern open-plan design and a built capacity to live 90% off the grid – using purified borehole water and an up-to-date usage of a combination of gas and solar power for lights and the heating of water. Pet friendly, the 24-hour manned security development offers magnificent views and is a mere kilometre away from Hillcrest. All homes sold in the launch phase will receive a free uninterrupted power supply system valued at R70 000.
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ABOVE: Dave’s personal interests include road running and a love of music, photography and cooking. He also enjoys riding his Triumph Bobber Motorcycle and indulging his green thumb by maintaining his own vegetable garden.
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FOR MORE INFO 031 765 5326; www.seeff.com
