Tokai Property Snapshot – 3rd Quarter 2014 vs 2015:
There is not a huge difference in property statistics but interesting nonetheless. There were 11 sales for a total of R37,340,000 in 2014 and 13 sales for a total of R48,305,000 in 2015. So the extra two sales brought in nearly R11 million more, quite a high average, but not reflecting reality. The average sale price for 2014 was R3,183,636 – buyers having negotiated an average of -5.65% off the asking price, whilst in 2015 it is R3,499,615, dropping an average of -5.32% off asking prices.
Average days on market also fairly similar at 14 days last year and 18 this year. A recent article on Property24 states: “The slowing economy is starting to bite into the residential property market with sales and transfers dropping 7.1% in the third quarter of 2015 compared to the previous quarter.” Obviously the writer is analysing stats for the whole of South Africa so it is understandable that the microcosm of Tokai would not look the same.
However it has to be said that in spite of this apparent decline, all things property are still looking pretty rosy in our neck of the woods.
Are you interested to know what your house is worth in today’s market? Call Lisa Rowell on
082 844 0800 for a hassle-free, no strings, confidential evaluation and find out.
|Tokai Property Snapshot – 3rd Quarter 2014 vs 2015|
|Total number of sales||11||13|
|Total value of sales||37,340,000||48,305,000|
|Average selling price||3,183,636||3,499,615|
|Average difference in ssking price||-5.65%||-5.32%|
|Average days on the market||14||18|
|(Source: Propstats, Tokai only – excl Lifestyle Estates and Zwaanswyk)|