Rising interest rates should not deter home buyers from entering the market now, especially if they are first-time buyers, because there is every reason to believe that home prices will continue to rise this year.
This is according to Berry Everitt, CEO of the Chas Everitt International property group, who says that the main reason is that the unexpectedly high number of potential home buyers over the past two years has not been matched by a similar increase in the delivery of new homes, with the result that inventory in many areas is already in short supply.
Everitt sats buyers who defer a purchase now may well find themselves priced out of the homes they really want by next year, because they will have to earn considerably more in order to qualify for bigger home loans and prove they have enough disposable income to cover a higher monthly loan repayment.
SEE: Can you afford to buy a home? Rising interest rates and the average salary in SA right now
With endless options available across the various listing types on Property24, these are a few of the top residential listings in Eastern Cape’s East London and Gqeberha, priced from R2m and less, to receive the most views.
Gqeberha
1. Immaculate townhouse in Lorraine for R1.2 million
This lovely unit is perfectly positioned in the centre of the complex right opposite the pool. It offers three bedrooms, two bathrooms and an undercover outdoor entertainment area leading onto a spacious garden.
Click here to view.
2. Happy family living in Cotswold for R1.495 million
This elevated home has lovely distinct views of Coega Bay, Saint Croix and Jaheel Island. The home consists of three bedrooms all with built in cupboards, a full bathroom, good security and is close to amenities.
Click here to view.
3. Fresh living in Richmond Hill for R1.25 million
Close to many amenities, this renovated home offers three bedrooms and bathrooms, a beautiful staircase, private courtyard and flatlet.
Click here to view.
East London
1. Easy living in Gonubie for R2 million
Set in a quiet area, this home has four bedrooms, two-and-a-half bathrooms, two spacious kitchens, a sparkling pool and fountain.
Click here to view.
2. Space for the whole family in Greenfields for R1.35 million
Quietly tucked away a few streets away from Greenfields' amenities, this home has a lot to offer a family that needs space and entertainment. The four-bedroom, three-bathroom home has a private garden, pool and en-suite bedroom flatlet.
Click here to view.
3. Tranquil living in Beacon Bay for R1.56 million
This well-maintained townhouse offers three good-sized bedrooms, two bathrooms, an enclosed entertainment area with a built-in braai and levelled enclosed garden area.
Click here to view.
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