Noelene Snyder, Rawson franchisee for this area, says she is still selling 10 to 15 homes per month.
"This may sound a great many but it is down on the 20 or more homes that we sold each month last year," said Snyder.
Just how low is a low house price in her view? Snyder says that in Kuils River the average home is priced at R750k and only a small number of homes in the area are priced above R1,5m. In Eersteriver, she says, prices are possibly 15% to 20% lower, the average price in the Eersteriver area being approximately R350k.
"In the last year we have seen prices drop R100k to R250k on almost every home. I cannot see them going any lower than this because Kuils River has over the years always held its values when others fell."
Snyder said she expects the housing market to be squarely back on its feet by June next year.
One of the promising signs, she said, is that rentals in the area are good – and are rising. The same two or three bedroom homes mentioned above that have sold for about R750k, said Snyder, can earn R3,500 – or more – when rented out, a sure sign that although credit is difficult to get the area is still attractive to many.
This fact, she said, has not gone unnoticed by investors who are returning to the area fast.
For more information contact Noelene Snyder on 021 906 1530 or send an email.
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