More incentive to sell as the interest rate comes down again
Category Market Update
The interest rate has declined by a total of 50bps since September, lowering borrowing costs, and providing a real boost for property buyers. The rate cuts have also facilitated a more favourable market for sellers, especially as we head into the busy sales period over the summer months and the early part of the new year.
The good news is that the Cape Town property market has again emerged as the strongest in the country, and most favourable for sellers. With demand set to increase further on the back of lower inflation and a further rate cut, there is now even more incentive for home owners looking to sell, to enter the market.
Interest rate cuts stimulate buyer enthusiasm, as home loan repayments reduce. It allows potentially buyers who have been holding back due to the high interest rate to now take advantage and get into the market, thus increasing the number of buyers in the market and boosting demand for property.
Increased buyer activity and demand, means properties could attract more favourable offers and sell faster, thus creating an ideal environment for those thinking of selling to get into the market. Favourable selling opportunities in turn also enables sellers to move forward with their next property purchase.
That said, to maximise the chances of a successful sale, it is important for sellers to choose the right agent. Agents are not all the same, and while sellers might be motivated to choose an agent based on a lower commission, the property might end up not selling, or selling for a lower price than what you could have achieved.
Experienced agents with deep local knowledge offer a significant advantage. They understand local market trends, pricing dynamics, and the ideal buyer profile. A strong sales history is a reliable indicator of an agent's effectiveness in terms of understanding the marketing, effective marketing, finding the right buyer, and negotiating an optimal sales transaction.
It follows that a reputable brand with a proven track record offers a distinct advantage to sellers. The Seeff property brand offers six decades of expertise and outstanding reputation for success. Our agents stand out from the competition with a proven track record of sales success.
Seeff Southern Suburbs/Constantiaberg agents offer a track record of many years' experience in the respective areas that they operate in. They offer a blend of experience and expertise, backed by a strong brand, and have solidified their position as market leaders, achieving some of the best results for clients.
As an added incentive, don't forget that if you sell with Seeff before the 30th of April 2025, you could be entered into our fantastic R1 million cash prize competition. Don't delay, contact your local Seeff agent today!
______
Make sure to follow us on Facebook, Instagram, and LinkedIn for the latest tips and trends in the property industry, as well as some of the most relevant news about the area you call home.
Author: Gina Meintjes
