Homes for sale sit for the least amount of time on the market in the Tshwane metro than in any other city region, averaging 10.14 weeks (just over two months); Ethekwini’s homes for sale took longest to sell, averaging 17.29 weeks, followed by Mandela Bay’s estimated 16.64 weeks.
This is according to John Loos, FNB household sector strategist, who studied the market over the two summer quarters in 2016/17.
“Tshwane, which although not having significant house price growth, appears to have a vibrant market with the lowest average time of homes on the market,” said Loos. “This average beats Cape Town’s estimated 13.14 weeks.”
Still, the Western Cape enjoyed the strongest house price growth in Q1 2017, posting year-on-year average house price growth of 6.2% – down 4.4% on Q1 2016’s multi-year high of 10.6%.
“However, despite slowing, the Western Cape’s average house price growth for Q1 2017 remained well above other major regions, the next fastest growth rate being a tame 1.1% year-on-year growth in the FNB Smaller 5 Provinces House Price Index (Mpumalanga, North West, Limpopo, Free State and Northern Cape),” said Loos. “This was followed by KwaZulu-Natal with 1% growth, Gauteng with 0.7%, and the Eastern Cape with a -1% growth rate.”
Photo: Situated in the hilltop Gift Acres security estate with a lovely view and within walking distance of 2 malls, is this interesting and modern house on 2 levels, with 4 bedrooms (2 en-suite), 3.5 bathrooms, ultramodern open-plan sterile kitchen with special cupboards; shelves and drawers are fitted with custom-made dividers. On the market for R4,150m it is marketed by Jawitz Properties. https://goo.gl/WWN6hY