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DAVE JONES HIGHLIGHTS WHAT’S KEY TO KEEP IN MIND WHEN SELLING, AND WHY THE AFFORDABLE UPPER HIGHWAY AREA CONTINUES TO ATTRACT BUYERS
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till on top when it comes to value for money within the property market, the Upper Highway area is increasingly popular and continues to attract buyers. One of the main reasons for this is our large selection of excellent schools. The renowned well-established schools, along with the emergence of fantastic new schools in Hillcrest and Waterfall over the recent years, make for an incredible range to suit a variety of families. Other reasons people choose to buy in this area include the strong retiree market, the outdoor lifestyle, the availability of apartment-style living and the availability of stock – the latter key for any growing market.
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ABOVE: Father and daughter selling team, Dave and Sam Jones. Slow price increases and high demand for affordable property has led to a market that is becoming overstocked. Pricing will be a critical factor for sellers to attract interest, and for any property that is on the market for over four months – the need for price adjustment will be essential. “John Loos anticipates a price increase of 3,8% as an average, but in our experience, this will apply largely to properties below two million. Properties over this price might on the short term grow at a slower level,” says Dave. “It’s critical for sellers to be informed of the stock levels in their particular price segment, as well as the pace of monthly
sales in that particular price range and property type.” The building of affordable apartments – such as Kings Gate, Emberton Mews, Cotswold Fenns and The Woods – has seen a new emerging non-traditional market for the area dramatically changing buying patterns and competing with traditional stock. Dispelling the myth that only townhouses are popular, Dave says the top price segments with regards to sales are new apartments between R1,5- and R2-million followed by apartments under R2-million. Freestanding houses between R1,5- and R2-million is next, followed by existing townhouses between R1- and R1,5-million. The slowest selling price segments prove to be land over R1-million – due to high building costs and the availability of already made stock – and freestanding houses over R4-million. There are several reasons people are selling – such as emigration or relocating within South Africa, and change in family structure. The biggest reason, however, is without doubt downscaling due to financial pressure. This again puts the Upper Highway area in a fantastic spot, with a number of newer more affordable developments on the go – such as the trendy 40 on Assagay. “Modern and secure with lower levies, being 90% off the grid and offering huge savings on transfer duty, five of the 11 sites have been reserved after just 14 days of marketing,” says Dave – adding that all sales made before the end of August receive an uninterrupted power supply system worth R70 000. “Interested parties are encouraged to physically come to the site as all platforms are now cut and you can get a great idea of what’s on offer by seeing it for yourself.”
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FOR MORE INFO Dave 082 445 8771; www.40onassagay.co.za
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