Shortage of suburban stock heralds a seller’s market
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.”