Constantia | Interest rate cut ahead signals a good time for sellers

Constantia | Interest rate cut ahead signals a good time for sellers

Category Market Update

With a potential interest rate cut on the cards in the next two months, and the traditionally busier summer season and hopefully an end to the wet weather ahead, the property market looks set for a return of some exuberance. This also means that now may well be an ideal time for sellers to put their properties on the market.

Banks such as Standard Bank recently signalled that conditions are now favourable for the Reserve Bank to cut the interest rate. The expectation is for two cuts of 25bps each in September and November. Additionally, the rising positivity around the Government of National Unity, could be just what the economy and property market need to return some exuberance.

Overall, the Cape Town metro property market continues to perform notably better than the rest of the country according to various housing barometers including the StatsSA Residential Property Price Index (RPPI). This is encouraging for sellers and the market. Constantia properties are for example currently selling fast with homes snapped up with 2 to 20 days of listing it. Propstats data also shows there's only a 5.2% difference between the asking and selling prices, with quite a few sales concluded for close to, and full asking price.

There is good incentive for those thinking of selling to get their properties onto the market now. The benefits of a Seeff Sole Mandate simply cannot be overstated. It is an exclusive agreement with Seeff to focus all our energy on the selling of your property. Our innovative marketing methodologies together with an extensive network of qualified buyers, ensures more visibility and exposure to a wide pool of potential buyers. Our Sole Mandates have proven time and again that we deliver on average a faster sale, and better price for our clients.

As an added incentive for sellers, a reminder of the incredible R1 million Cash Prize Competition which is open to all sellers who sell with Seeff on an exclusive sole mandate between the 1st of June 2024 and the 31st of May 2025. We have already seen a number of sellers achieve an entry into this fantastic competition.

Aside from the credibility and 60-year brand leadership history, Seeff offers skilled and experienced agents who are able to assist clients to maximise their property goals. Your local area specialists, Nikki Edenborough and Faith Knight, are award-winning agents, and offer a proven and consistent record of top sales achievements. They are ready to assist with your property needs. Contact them at any time for more information or to chat about your property aspirations.

Author: Gina Meintjes