This family home offers four bedrooms, two bathrooms, three lounges, a study and granny flat. It is on the market for R3.3 million through Rawson Properties.
The East London residential property market has been one of the most stable in South Africa for some time.
This is according to Rawson Property Group franchisees for Beacon Bay, Sanet van de Merwe and Vuyo Kayula, who say although there was, in the recessionary period, a long time during which prices remained stagnant, unlike almost all other residential areas in South Africa, they never saw any significant drops on their property values. Now, driven by quite severe stock shortages in many price brackets, values are starting to creep upwards again.
Like their colleague, Penny McCarlie, who runs the other Rawson Property Group East London franchise, Van der Merwe and Kayula say they can offer an exceptionally wide range of properties, from R90 000 in Mdantsane to R6 million in areas like Nahoon Mouth, Bunkershill and Beacon Bay.
This home has three bedrooms and two bathrooms. It is priced at R1.595 million through Rawson Properties.
However, the strongest demand is much in the R1 million to R1.5 million bracket, which is attracting buyers from all over the country. The majority of these middle rank homes are to be found in Beacon Bay, Gonubie, Dorchester Heights, and Nahoon Valley Park.
They say the lower end of East London’s market, especially in Mdantsane, where most of the sales are between R 90 000 and R450 000, has proved surprisingly active in recent years.
Kayula says due to the big difference in price brackets there are a large number of buyers in the Mdantsane area, from the low end to the high end of the market. These potential buyers are a combination of local Mdantsane residents who want to upscale to a better area or home, first-time buyers from within the town who can now afford a property in Mdantsane and investors who buy, refurbish and resell.
According to the agents, the Mdantsane market is certainly buoyant with potential for further growth.
This home offers three bedrooms and one bathroom. It is on the market for R630 000 through Rawson Properties.
Asked to give a prediction for the year ahead, the franchisees say with around 150 homes already on their stock list and with access to multi-listings via PLA & PPN as well as referrals coming in regularly from the Rawson Property Group referral network, they are confident that in the year ahead they can increase their sales numbers even further.
Van der Merwe says every one of their estate agents is either fully qualified as an estate agent, having already passed the EAAB exams or is now in training and will be qualified within the foreseeable future.
The simple conclusion, says Kayula, must be that the East London market, although never spectacular, is alive and well and an exceptionally good area in which to invest.
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