Rondebosch | Interest rate cut ahead signals a good time for sellers
Category Market Update
With the potential of an interest rate cut coming in the next two months, the property market looks set for an uptick, and a potential return of some exuberance both to the economy, and property market. That means that now may well be an ideal time for sellers to put their properties on the market.
Rondebosch is enjoying another phenomenal year, providing excellent opportunities for sellers. Propstats data shows that for 2024 to date there have already been 46 sales of full title homes concluded at a total value of almost R265 million. Almost 40% of all sales have been concluded for within 5%-6% of the asking price.
The average price for a full title house now stands at R5.7 million. 52% of this year's sales fall below R5 million while 6 sales have been concluded above R10 million. The highest prices achieved include R10.2M (Esmar Street), R10.5M (Portland Road), R11.062M (Silwood Road), and R20.6M (Wood Road).
Rondebosch offers a compelling property investment proposition, and excellent prospects for sellers especially as we head towards the busier summer selling season. Aside from service delivery, the suburb benefits from access to top schools and UCT, as well as the convenience of a host of amenities.
Residents enjoy a desirable lifestyle with beautiful green spaces and a vibrant community, making it an appealing place to live. These factors combined create a robust property market for those seeking long-term capital growth. It is also a popular rental market, thus offering potential for investors to earn good rental returns.
When it comes to selling, the benefits of a 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. Seeff's 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. Imagine what you could do with R1 million, renovate or remodel your home, invest it into your bond or elsewhere, or enjoy a holiday of a lifetime.
Aside from the credibility and 60-year brand leadership history, Seeff Southern Suburbs offers skilled and experienced agents who are able to assist clients to maximise their property aspirations.
As an Award-Winning Seeff agent with a track-record of many years' of success for clients, Charmaine Scott-Wilson has already exceeded her previous sales records with 12 sales already concluded this year.
Charmaine is ready to assist with your property needs. Contact her today to chat about your property needs.
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Author: Gina Meintjes
