Tokai Property Snapshot
The Tokai Market (first half of 2020)
Rob Downey, a master agent working in the Tokai area for Chas Everitt, reflects on the property market for the first 6 months of 2020;
The Tokai market has certainly felt the effect of the Covid-19 having a dramatic effect on the market for most of the first six months of 2020.
We may have forgotten, but 2019 was in general a slow growth year picking up in the last quarter and we started 2020 with more positive indications for the year ahead. 2020 did start off on a more positive footing, but it was short-lived with the worldwide effect of the Covid-19, and Lockdown taking effect late in March.
Lockdown left us all shocked and with very little space for any Seller or Agents to operate under the assumption of business-as-usual and this had a dramatic effect on property transfers. The Deeds Office shut down over this period. Its only now in July that the first transfers are being registered after lockdown, an important return to some normalization of real estate activity.
Currently as per the Property 24 portal, the following residential property is listed as for sale in Tokai;
By comparing the first half of the year (1st January to the end of June) to the same period in 2019 year, we get a simple overview of the state of the Tokai market:- (Source CMA INFO)
As can be seen in the table the Tokai market, we are currently trading at 81% down compared to the same period last year.
The current market has seen a number of buyers encouraged to try ‘low-ball’ offers. Property over the R 3,000 000 price range are receiving a limited number of buyer enquiries but this is now picking up every day. The under R3 000 000 market has been active and resilient.
At Chas Everitt we have a number of solutions and positive indications for serious sellers who do need to take action;
- Our Cape Town South franchise has had our best month, year to date (2020) with the best June for many years.
- Rental are doing very well. Those who do not need to sell now, should seriously consider this option but note it needs to be a one year rental at least. Our rental division is booming with a ‘rental book’ growth exceeding 300% since only one year ago.
- We are linked to and familiar with all the bank program, and are able to guide and assist in selling your property with the highest price possible remaining our objective. We can help manage arrears pressure with the banks if this affects you.
- Ultimately the market is all about price and you need to be very aware of your competition we can make sure you are fully informed.
How can I help you?
Our experienced team is available to help you no matter what your needs and no matter what the solution, this includes banks and attorneys we work with and other specialists in their fields.
For any property information advice or assistance, please contact me Rob Downey on my cell 084 576 7378 or email email@example.com
2 BEDROOM TOWNHOUSE FOR SALE IN ZWAANSWYK
Luxurious Townhouse Living
This superb townhouse offers luxury living at its absolute best, situated in the beautiful New Court at Steenberg Estate, in Zwaanswyk. The estate is in close proximity to quality restaurants, Steenberg Golf Course, Spa, and Hotel, as well as the Tokai Arboretum and Tokai Forest.
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Viewings by appointment only. Book your appointment to view today!