What's driving home sales patterns in Gauteng?
There are, of course, all sorts of external variables - like interest rates, work circumstances or family changes - that can influence consumers to buy a new home or not.
Once potential buyers have decided to buy, their choice of home and location will generally depend only on affordability, security and convenience, and the varying combinations of these three factors are what actually give shape and form to most real estate markets.
However, once potential buyers have decided to buy, their choice of home and location will generally depend only on affordability, security and convenience, and the varying combinations of these three factors are what actually give shape and form to most real estate markets.
What are first-time buyers in Gauteng looking for?
“In Gauteng, for example, the two main items currently driving home choices among young first-time buyers are affordability and security, and we see this reflected very clearly in the popularity of the new apartment, townhouse and estate developments that offer two and three bedroom homes for under R1 million - as well as good security and, preferably, easy access to shops and either a public transport hub or a major employment node.”
Areas that offer many such developments – in the North of Pretoria – include Annlin, Doornpoort and Pretoria North in Tshwane.
In the same period, 233 sectional title sales at an average price of R711 000 have been reported in Annlin, 192 sectional title sales at an average price of R449 000 in Pretoria North, and 126 sectional title sales at an average of R809 000 in Doornpoort.
What are repeat buyers looking for?
Older buyers, who have usually built up some equity in a first property that they can use as a deposit on the purchase of their second or third homes, affordability is often not as much of a concern as security and, if they have children, easy access to good schools.
It is this particular combination of the three main factors that we currently see driving consistent demand for the upmarket homes in lifestyle estates that have their own schools. ( Taken from the article – Gauteng Property Trends Revelaed – property24.com ) Our dedicated sales team specializing in the North of Pretoria will gladly assist with your needs – The Northen Pretoria area is clear to continue with its strong growth and demand for properties.