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‘Old’ Plumstead house breaks previous record price

plumstead-price-record-sale-at-r3-4m-1The “traditional” part of the Cape’s Southern Suburb of Plumstead has a new price record after a three-bedroom home with a flat in Plympton Road was sold for R3,4m to a cash buyer. Seeff agents, Peter Thornton and Peter Marais, who negotiated the sale, said this was the second recent price record in the same part of the Southern Suburbs.

“It seems that there is still some sense of buyer urgency here and, it is still a very well balanced market,” they said, noting that the home was listed at R3,475m and was on the market 57 days. “It was on a sole mandate, which contributed to the seller achieving a record price. The property attracted two further offers in the region of R3,3m, illustrative of the excellent demand still prevalent in the neighbourhood.”

The bulk of sales in the suburb still falls below the R3m price band and stock remains in short supply across the area. Properties continue to sell well within a month in the lower price bands and the average difference between the asking the selling price is 5.9% (though more than two thirds of all recent sales were concluded for closer to or matching full asking price).

Photo: This family home was sold by Seeff for the record price of R3,4m to a cash buyer


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