North Riding high sales figures

Although the SA residential property market is still officially in a recession or post-recession phase - with price increases as yet far from spectacular - certain areas, says Tony Clarke, MD of the Rawson Property Group, are flourishing and very definitely bucking the slow sales trend.

Newly developed suburbs north of Johannesburg, where sectional title homes are available at reasonable “new South Africa” prices, says Clarke, have for two years or more witnessed higher sales.

At Rawson Properties’ four year old North Riding franchise, owned by Taryn Cilliers, they have in recent months been selling some 15 homes per month.

Cilliers herself has said that her six agents have never before been so busy and her only problem is a shortage of stock.

North Riding, said Cilliers, has two factors working in its favour: the majority of the stock available is in new or fairly new sectional title house and apartment developments which are priced from R500 000 to R2,5 million with average prices just above and below the R1 million mark; and the area is also close to two major work areas, Sandton and Randburg, and only 25 km from the centre of Johannesburg.

The new developments, she says, are well protected from intruders by security fencing, alarms and patrol guards and almost always have attractive designs, well landscaped gardens and good communal facilities.

“The bulk of our stock,” she said, “is, therefore, just right for today’s emerging middle class – and it looks as if we will be able to maintain the sales tempo for a while yet.”

Article by: www.rawson.co.za