Since 2012 I have been analysing our local property market to enable me to give accurate valuations and to best serve my buyers and sellers. The interpretations below are estimates and based on the registration of erven properties at the Deeds Office. They do not include sectional title transfers and also do not distinguish between residential and commercial properties, although I do believe that the majority of these registrations account for vacant stands and houses.
Oudtshoorn Property Registrations from 1 January to 31 March 2017:
- In this period roughly 8 properties registered between R100 000 and R199 000, representing 10% of the market.
- The most active price range was R200 000 to R399 000, reflecting 22% with 18 registrations.
- Houses in the R400 000 to R599 000 bracket equated to 10 registrations and 12% market share.
- The R600 000 to R799 000 price range and the R800 000 to R999 000 tied at 18% with 15 registrations each.
- The 3 registrations in the price range R1 million to R1,2 million comprised 4% of the market.
- A total of 14 properties (16%) sold for prices exceeding R1,2 million.
- 7 (8% of total sales) properties registered between R1,2 and R1,5 million
- 5 (6%) registered between R1,5 and R2 million
- 2 (2%) registered between R2 and R3 million and
- None registered for more than R3 million
Noteworthy is the continued marked increase in the First Quarter of 2017 in property sales over R1,2 million.
- 25 (8% of total sales) properties registered between R1,2 and R1,5 million
- 15 (5%) registered between R1,5 and R2 million
- 4 (1%) registered between R2 and R3 million and
- 7 (2%) registered for more than R3 million
Price range comparisons for 2016, 2015, 2014, 2013 and 2012:
Looking at the table above, I think it is safe to assume that our local market is still stable and quite consistent. Buyers still choose value over price and only those properties who are perceived by them to be listed at fair market value end up at the Cape Town Deeds’ Office. Sellers therefore need to be very conscious that it is still very much a buyers’ market where buyers ultimately determine market value. It is always best to stay within probable and realistic price parameters when entering a property into the market.
Do you want to know what your home in Oudtshoorn is worth or give us a mandate to sell it?
Share this on WhatsApp