Un­der a month to sell in Clare­mont if the price is right

Weekend Argus (Saturday Edition) - - PROPERTY -

CLARE­MONT has al­ways been pop­u­lar with f am­ily buy­ers, mainly be­cause of its cen­tral po­si­tion, easy ac­cess via ma­jor high­ways and prox­im­ity to some of the city’s top ed­u­ca­tional, med­i­cal sport­ing and shop­ping fa­cil­i­ties.

This pop­u­lar­ity has not waned de­spite the mar­ket slow­down, say Pam Gold­ing Proper ties’ lo­cal agents – in fact, homes which are re­al­is­ti­cally priced are stay­ing on the mar­ket for less than a month, and there is a short­age of stock for sale.

PGP’s area man­ager, Howard M a rk h a m , s ay s C l a r e m o n t i s af­fected by sea­sonal fluc­tu­a­tions, like any other Cape Town sub­urb, with the mar­ket gen­er­ally qui­eten­ing down in mid-win­ter, and many would-be sell­ers elect­ing to hold out un­til spring.

“But,” he says, “we still have a good va­ri­ety of homes on our books, and sell­ers who are tak­ing a prag­matic ap­proach to the pre­vail­ing cli­mate and are not over-pric­ing their homes, are hav­ing them snapped up within a mat­ter of weeks or even days – in fact, we have seen some homes sell­ing be­fore they have even been on our books for a full day.

“A ren­o­vated home in Bish­op­scourt Vil­lage sold for R2.85 mil­lion in May, 12 hours af­ter it was listed with us.

“A l t h o u g h t h e r e h a s b e e n in­evitable down­ward pres­sure on prices, the short­age of stock means that many sell­ers in this sub­urb are achiev­ing good prices for their homes, in re­mark­ably short times.”

For the most part, fam­ily homes can be ob­tained for around R2.5m to R3m and up­wards, de­pend­ing on their con­di­tion.

“As Clare­mont is one of the city’s o l d e r s uburbs, ” s ay s Markham, “ t here are nat­u­rally s ome ol der homes which are in need of up­grad­ing, and buy­ers looking for bar­gains would do well to look out for th­ese. For ex­am­ple, we re­cently sold a spa­cious fam­ily home within walk­ing dis­tance of top pri­vate schools for just R1.95m, to a buyer who in­tends to re­de­velop the prop­erty.”

PGP’s other re­cent sales in­cluded two homes in Bish­op­scourt Vil­lage sold for R2.4m and R2.8m in May, both within two weeks of list­ing.

July sales in­cluded a home in up­per Clare­mont, in need of ren­o­va­tion, which was sold within four days to a young fam­ily, for R2.5m.

A more mod­ern Provençal-style home in mint con­di­tion was sold for the full list­ing price of R3.5m to a lo­cal buyer, in un­der a month.

PGP’s MD for the West­ern Cape metro re­gion, Lau­rie Wener, says there are also plenty of op­por­tu­ni­ties in Clare­mont for buy­ers who want smaller homes.

Th­ese in­clude buy­ers who are down­scal­ing for re­tire­ment or an empty nest, or those just start­ing out in the prop­erty mar­ket, for ex­am­ple, young pro­fes­sion­als and newly mar­ried cou­ples without chil­dren.

“There is a wide va­ri­ety of apartme n t s av a i l a b l e , r a n g i n g f r o m brand-new de­vel­op­ments to older build­ings, some of which com­mand the most out­stand­ing views and po­si­tions in the sub­urb.

“Typ­i­cally you can buy a stu­dio apart­ment from around R500 000, go­ing up to R600 000 for a one-bed­room apart­ment and R900 000 for a two-bed­room unit.”

One of the most pop­u­lar of the new op­tions for apart­ment-dwellers is the life­style de­vel­op­ment be­hind Li­brary Square, The Quad­rant. This block has mod­ern apart­ments with high-qual­ity fin­ishes, out­stand­ing views and ex­cel­lent se­cu­rity, and a range of on-site ex­tras such as a gym, an Ital­ian restau­rant and a wine bar.

The apart­ments are di­vided into sev­eral blocks ar­ranged around a cen­tral court­yard.

PGP’s de­vel­op­ment man­ager, Bev B l o c h , s ay s T h e Q u a d r a n t h a s at­tracted a large num­ber of med­i­cal pro­fes­sion­als as it is close to sev­eral hos­pi­tals and med­i­cal prac­tices.

“ S e ve r a l p r o f e s s i o n a l s f r o m Gaut­eng have also bought here,” she says, “and use their units as lock-up-and-go com­muter pads. Cor­po­rate buy­ers have seen sim­i­lar po­ten­tial in the build­ing, buy­ing units where they can ac­com­mo­date vis­it­ing clients and sup­pli­ers.

“A n d , o f c o u r s e , i t h a s a l s o proved pop­u­lar with stu­dents and sports en­thu­si­asts, due to the com­plex’s prox­im­ity to UCT and the New­lands sports grounds.”

Bloch says al­though the in­vestor mar­ket has been quiet of late, there has been re­cent in­ter­est from po­ten­tial owner-oc­cu­piers as the first block has reached com­ple­tion.

GREAT LO­CA­TION: This four-bed­room up­per Clare­mont home on a 1 084m2 erf within walk­ing dis­tance of top schools is for sale through Pam Gold­ing Prop­er­ties at R6.45 mil­lion.

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