It has been a busy 2018 for the residential property market in Clarens – with high interest in homes to buy and a new residential development just launched.<\/p>\n
This is according to Pam Golding’s Odette Parris who said that, despite the recent popularity, the Eastern Free State town has a surprisingly stable property market.<\/p>\n
“Indicative of the appeal of this country town is that nearly two-thirds (63%) of current home owners have owned their properties for 11 or more years \u2013 showing an unusually stable housing market,” she said – citing statistics provided by Lightstone.<\/p>\n
“Over the past 12 months a small percentage of young adults or first-time buyers<\/strong> are also staking their claim in Clarens.”<\/p>\n The majority of Clarens\u2019 housing stock comprises freehold homes (94.96%), with just 22.45% of stock (both freehold and sectional title), located within estates, added Sandra Gordon, Pam Golding Properties senior research analyst.<\/p>\n Gordon said that over the past 12 months (August 2017 to July 2018) a total of nine homes located in estates were sold in Clarens at an average price of R1.42 million<\/strong>.<\/p>\n A total of 32 freehold homes were sold at an average price of R1.44 million<\/strong> while 16 sectional title homes fetched an average price of R1.13 million<\/strong>. During this period a total of 34 vacant plots were sold \u2013 16 in estates at an average price of R337,000<\/strong> and 18 plots outside estates averaging at R371,000<\/strong>.<\/p>\n According to Gordon, the increasing property demand has led to the launch of a new sectional title development – Quillets.<\/p>\n “Enquiries for homes in Quillets are ongoing as there is a shortage of smaller, more compact homes, especially with the convenience and benefits afforded within a sectional title development. The previous most recent development, Paddocks, sold out off-plan in eight months,” she said.<\/p>\n “Many of our buyers are from Gauteng, those looking to acquire second and third homes which can be used for weekend getaways or leased out on a self-catering or long-term basis for income generation, as there is a tremendous shortage of accommodation to rent in Clarens.”<\/p>\n
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