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2011 Property Market and Prediction
Currently very little rental stock in Fourways Gardens or Dainfern:
Sales stock becoming stronger - prices continue to rise in Fourways Gardens:
Weak market predicted in general :
Always strong demand in Fourways Gardens :
Faultless Security services are vital! 2010 proved to be a difficult year in the property industry - the effect of which was not felt so strongly in Fourways Gardens as elsewhere. What is the current market like in Fourways Gardens and what can we look forward to in the year ahead ?
Although residential property in Fourways Gardens has maintained appeal, particularly in the R2.5m to R3m range, some properties in other upmarket suburbs such as Bedfordview have lingered on the market with no offers for a year !
From my firm's point of view, 2010 was a fairly good year but sales were more difficult and took longer to negotiate than the previous year.
Currently in Fourways Gardens and Dainfern, there is very sparse stock in the Rental market, particulary between R20 and R25 000 per month range and high demand.
We are seeing a stronger 2011 for Sales and have started strongly marketing some excellent properties Mandated to our firm, in the Estate. Please see our Website at www.fbproperties.co.za!
Economic indicators predict a hard 2011 however in the general residential property market.
According to FNB, 2010 was significantly better than 2009 and the year on year rate of increase in the FNB house price index for last month was 3.6%, unchanged from the November revised growth rate. In real terms - adjusting for a November consumer price inflation rate of 3.6% year on year - this means that house prices did not change in November. FNB's Property Strategist said the average price level was estimated to be 6.7% higher than the 2009 average price level, which translates into a real price average that was 2.3% higher last year than in 2009, when taking the first eleven months of last year into account. He felt it as too early to say whether the stabilisation in the rate of price increase was any sign of a turn around in the price trend, but he said at this stage, he thinks probably not.
However, he believes it is possible that the 2 interest rate cuts in September and November may have given the market a slight impetus through the summer months, but the residential market's fundamentals still have much improving to do before we see any sustained turnabout in house price growth.
Bond Originators that we deal with have cautious optimism in achieving 90% bonds where credit records are strong.
One of the main reasons our Buyers want to live in or purchase investment property in Fourways Gardens is the Security of the Estate... as owners our properties value depends heavily on the need for faultless tight security and I believe we should be vigilant in our attention to this aspect on a constant basis.
From our perspective, we have started the year with a fantastic portfolio of property in Fourways Gardens and other secure Complexes across the price ranges R1.1m to R6m and can only say we are highly optimistic regarding strong sales in Fourways Gardens. Summer and Spring are the best sales times so we will be busy over the next 3 months and are busy upgrading our advertising and marketing techniques and tools.
Our Mandated Clients enjoy additional services such as complimentary suite of photographs of their properties shot by a professional property photographer and complimentary Professional Structural Engineer's inspection and report on the weatherproof and structural condition of their property.
We really look forward to providing our Clients with superior service which truly goes Beyond Real Estate!
We wish you a 2011 packed with good health, prosperity and great happiness, along with the challenges.
Best Wishes
Francesca Beattie CEA
Sales stock becoming stronger - prices continue to rise in Fourways Gardens:
Weak market predicted in general :
Always strong demand in Fourways Gardens :
Faultless Security services are vital! 2010 proved to be a difficult year in the property industry - the effect of which was not felt so strongly in Fourways Gardens as elsewhere. What is the current market like in Fourways Gardens and what can we look forward to in the year ahead ?
Although residential property in Fourways Gardens has maintained appeal, particularly in the R2.5m to R3m range, some properties in other upmarket suburbs such as Bedfordview have lingered on the market with no offers for a year !
From my firm's point of view, 2010 was a fairly good year but sales were more difficult and took longer to negotiate than the previous year.
Currently in Fourways Gardens and Dainfern, there is very sparse stock in the Rental market, particulary between R20 and R25 000 per month range and high demand.
We are seeing a stronger 2011 for Sales and have started strongly marketing some excellent properties Mandated to our firm, in the Estate. Please see our Website at www.fbproperties.co.za!
Economic indicators predict a hard 2011 however in the general residential property market.
According to FNB, 2010 was significantly better than 2009 and the year on year rate of increase in the FNB house price index for last month was 3.6%, unchanged from the November revised growth rate. In real terms - adjusting for a November consumer price inflation rate of 3.6% year on year - this means that house prices did not change in November. FNB's Property Strategist said the average price level was estimated to be 6.7% higher than the 2009 average price level, which translates into a real price average that was 2.3% higher last year than in 2009, when taking the first eleven months of last year into account. He felt it as too early to say whether the stabilisation in the rate of price increase was any sign of a turn around in the price trend, but he said at this stage, he thinks probably not.
However, he believes it is possible that the 2 interest rate cuts in September and November may have given the market a slight impetus through the summer months, but the residential market's fundamentals still have much improving to do before we see any sustained turnabout in house price growth.
Bond Originators that we deal with have cautious optimism in achieving 90% bonds where credit records are strong.
One of the main reasons our Buyers want to live in or purchase investment property in Fourways Gardens is the Security of the Estate... as owners our properties value depends heavily on the need for faultless tight security and I believe we should be vigilant in our attention to this aspect on a constant basis.
From our perspective, we have started the year with a fantastic portfolio of property in Fourways Gardens and other secure Complexes across the price ranges R1.1m to R6m and can only say we are highly optimistic regarding strong sales in Fourways Gardens. Summer and Spring are the best sales times so we will be busy over the next 3 months and are busy upgrading our advertising and marketing techniques and tools.
Our Mandated Clients enjoy additional services such as complimentary suite of photographs of their properties shot by a professional property photographer and complimentary Professional Structural Engineer's inspection and report on the weatherproof and structural condition of their property.
We really look forward to providing our Clients with superior service which truly goes Beyond Real Estate!
We wish you a 2011 packed with good health, prosperity and great happiness, along with the challenges.
Best Wishes
Francesca Beattie CEA
