… Van Wyk says the properties that are still selling well are mostly those in the R1 million to R2 million price bracket, and townhouses, especially, are particularly popular right now.
At the same time, he says buyers need to also be aware that the banks are tightening their lending, and it is taking longer to get deals approved. Bigger deposits are now needed, given the more conservative outlook in the granting of bonds.
Sellers, on the other hand, need to take note of the drastic increase in competition in the market.
“With so many properties to choose from, your property needs to be in excellent shape and priced at the right level. You do not want to put buyers off before they have even arrived at your show house,” says Van Wyk.
Read the full article at Property24
