“This optimism is evident at the provincial level and the different value bands with the exception of the low-value segment,” the group said.<\/p>\n
“The low-value market has seen lesser demand due to the historically low-interest rate that has enabled both the immediate participation in higher-value market for new homeowners and a comfortable upgrade for low-value homeowners.”<\/p>\n
Among\u00a0 major municipalities, the data shows that coastal municipalities are generally performing better<\/strong> than those inland.<\/p>\n This relationship further extends to all coastal and inland properties. Real estate agents from Pam Golding said that a trend in coastal buying is likely due to the lower interest rates which has made it easier for young South Africans to get on the property ladder.<\/p>\n The group added that it has also seen an increase in semigrating South Africans from other parts of the country.<\/p>\n “Our first-time buyers are Cape Town locals, including those relocating from the townships, as well as purchasers from the Eastern Cape, Gauteng and a few from Johannesburg,” said Emarie Campbell, Pam Golding Properties area principal on the Western Seaboard.<\/p>\n “They want affordable homes \u2013 preferably priced below R2 million and comprising freestanding, three-bedroom, two-bathroom residences with a lock-up garage providing direct access into the home and a garden for children and pets, and located close to MyCiTi bus stops, government and private schools, gyms, shopping malls, churches and hospitals.”<\/p>\n The table provides a long-term view of annual rates of inflation for various geographical areas.<\/p>\n <\/p>\n Looking at the types of properties sold, the data shows that freehold properties are currently outpacing sectional-title properties<\/strong>, which are now below the annual inflation level.<\/p>\n In times of lower average prices in the sectional title residential property market, sales volumes traditionally soared upwards.<\/p>\n Conversely, when average prices rose, sales volumes almost always declined, says Rowan Alexander, director of estate agency Alexander Swart Properties.<\/p>\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/04\/Lightstone-1.png\")
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