Short­age of sub­ur­ban stock her­alds a seller’s mar­ket

Weekend Argus (Saturday Edition) - - PROPERTY -

THE SHORT­AGE of stock in sev­eral ar­eas in the south­ern sub­urbs and False Bay might her­ald a swing away from the buyer’s mar­ket that has pre­vailed over the past cou­ple of years to­wards be­ing a seller’s mar­ket, says Mike Gre­eff, chief ex­ec­u­tive of Gre­eff Prop­er­ties, an af­fil­i­ate of Christie’s In­ter­na­tional Real Es­tate.

“In ar­eas like Plum­stead, Harfield, Diep River, Kirsten­hof and Pinelands, homes are spend­ing very lit­tle time on the mar­ket be­fore be­ing sold at prices very close to the list­ing amount.

“The short­age of stock in Fish Hoek and Capri is lead­ing to a sim­i­lar sit­u­a­tion,” said Gre­eff.

“The next few months are tra­di­tion­ally the busiest in the cal­en­dar for prop­erty sales, and sell­ers should take ad­van­tage of the short­age to put their homes on the mar­ket.”

He also said agents around the Penin­sula were re­port­ing a de­crease in the num­ber of homes on show.

“This is another fac­tor for would-be sell­ers to take ad­van­tage of – less com­pe­ti­tion gives your home an edge.

“Al­though there are ar­eas where stock short­ages are not preva­lent, we be­lieve the wheel is turn­ing.”

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