In the area 2 – Kempton Park

Estate agents in the Kempton Park property market are reporting growing confidence among buyers.

The renewed confidence is translating into better sales in the middle segment of the market, which simmered down towards the end of last year, says Francois Joubert Jnr of the local Aida Kempton Park office.

“Our agents have noted a marked increase in interest in homes in the price range between R600 000 and R900 000,” he says. Many of the new prospective buyers have been renting accommodation and have been swayed by falling interest rates to buy their own homes.”

Joubert adds, though, that many keen buyers are finding it hard to find the 10% to 20% deposits required by lending institutions.

As to the type of home being sought, he says buyers currently prefer free-standing family homes to sectional title units. “Houses now offer excellent value. On a rand for rand basis, buyers can buy twice the size if they opt for older homes instead of townhouses.

“However, there are early indications that demand for townhouses is rising. Lower interest rates are expected to stimulate demand in this market among younger buyers who typically prefer a lock-up-and-go lifestyle.”

Joubert adds that his agency is planning to appoint more agents to cope with bigger demand for property in Kempton. “We have openings available and all new agents will receive full bursaries to obtain the new NQF4 qualifications. The bursary scheme, implemented by the Aida group last year, has done much to hone our agents’ offering to consumers,” he says.

Article by: www.aida.co.za