Surveying houses for sale in Tokai as of today’s date, one can’t help but notice there is nothing available for less than R4 500 000. There is still a dire shortage of housing stock for sale, and a long queue of buyers desperate to get into the area, and yet the days of entry level values of R2 500 000 to R3 000 000 seem to be long gone.
Has the shortage of sellers meant that the few properties that come onto the market can ask a premium? Or is it just a coincidence that these large family homes of high value have all come onto the market at the same time? And will they sell at those prices?
It will be very interesting to see if this bubble of inflated asking prices pushes Tokai into the same league as Constantia. Or will optimistic sellers battle to sell and after months on the market be forced to accept much lower offers and everything settles back to prices as usual.
It’s been a long time since Tokai saw such dynamic trends. What is your property worth in today’s market? Contact area specialist Lisa Rowell for a no-obligation, free evaluation on 082 844 0800 or 021 794 0566.