Current market trends in Gordon's Bay

In a recent interview with Tommy Dell on Radio Herlderberg on 93.6fm, Kevin Wearing – Principal of Leapfrog Gordon’s Bay commented on the current market trends in the area.

How are you experiencing the general property market in Gordon’s Bay at present?

“We are experiencing a very buoyant market in the area with record sales over the past few months. The market has definitely change towards rather favourable circumstances for our valued sellers; due to limited stock and a high demand for properties in Gordon’s Bay – hence the demand is currently greater than the stock available.”

How long has this trend been experienced?

“It is my opinion that this trend excelled in early January this year – we are officially in one of the most active ‘seller’s markets’ I have experienced in the past 4 to 5 years. An example, for instance, is the fact that the growth in sales in our office has been exceptional – exceeding all previous years by more than 30%. Certain properties sell within 48 hours of being listed due to the high demand for property.”

Are sellers achieving their asking price, or is there still a big difference between the asking price and that which the seller eventually gets from the buyer?

“If the seller’s haven been correctly advised about the market related value of their property – by a trusted property advisor – then, in most cases, there is virtually no difference between the asking price and the price offered by a potential purchaser.

However, there are still many sellers who are being incorrectly advised by inexperienced agents, who are not acquainted with the market trends or selling prices of comparative properties in our area. This is the reason that a much lower offer is sometimes presented, or that there is no interest shown in the property as it is overpriced.

Unfortunately in most cases it is the seller’s own fault to be mislead by such an agent  - who has determined an unrealistically high asking price or, has offered a lower commission rate. There is a good saying in our profession; ‘If you want to pay low commission then be prepared to pay nothing at all’  - as your property won’t sell.”

Behou die huismark sy momentum en gaan hierdie tendens voortduur?

“Beslis, die huismark gaan sy momentum behou selfs al sal die renterkoers styg. Dit danksy die banke wat makliker verbande goedkeur, en ‘n volgehoue vraag na en ‘n tekort aan voorraad. Verskeie kenners meen die grootste aandrywer van die makr is kopers se toegang tot krediet en ‘banke het beslis ‘n groter aptyd vir uitleen’.

Soos genoem ervaar Leapfrog in Gordonbaai al ‘n geruime tyd ‘n tekort aan eiendomme wat teen die regte prys op die mark is, terwyl kopers toustaan.”

Wat is jou advies as ‘n Leapfrog eiendomsadviseer aan verkopers daar buite?

“Ek wil huis vir verkopers adviseer en aanspoor om tans van die gunstige huidige eiendomsmark gebruik te maak en voordeel te trek, aangesien hul nou in ‘n baie aktiewe mark is waar daar nou juis ‘n groot aanvraag vir eiendomme is. Die tyd is nou reg om jou eiendom op die mark te plaas teen ‘n mark verante pry swat deur ‘n gekwalifiseerde eiendomsagent, met ondervinding, bepaal kan word. Ons Leapfrog agentse se doelwit is om eiendomme te verkoop teen die hoogs moontlike vraepray, in die kortste tydperk met die minste probleme.”