City Outskirts Property Market In The Spotlight
Category Cape Town Property Market
The City Outskirts area has been experiencing increased levels of demand in 2022!
The Quay 1 area specialist brokers, who have become synonymous with achieving high levels of market share within the area over the past several years, noted a roughly 20% increase in year on year buyer activity in January 2022, compared to the same period last year.
Justin Nortier, Quay 1 area specialist and division manager within the region says that "the City Outskirts and the suburbs surrounding the area have fast become hot spots for purchasers looking for property in close proximity to the City. Value for money, compared to City Bowl price points, and the trendy lifestyle that goes with living within these hubs are some of the key premium attributes contributing to demand. From a company perspective, we look forward to serving our clients property needs, as well as continuing to support crucial community initiatives within the region in 2022."
Joseph Johnson, Quay 1 area specialist broker adds that "in terms of a market outlook for 2022 within the region, we anticipate an influx of new purchasers entering the market between now and the colder months which typically start around August, this period is also known as the "selling season" in the Western Cape."
"Purchasers buying within the R3,000,000 and under price bracket are typically sensitive to interest rates. With interest rates expected to aggressively increase by 2-4% over the next few years, sellers are urged to strongly consider entering the market within the warmer months as prices are likely to remain buoyant within this period."
2022 has got off to a busy start, with the Quay 1 International Realty team concluding over R95,000,0000 in gross sales over the last six weeks. We are hopeful that this year will attract a higher degree of stability which should bode well for sentiment and increase the likelihood of the market continuing to track an upward trajectory as the year progresses. We are however realistic and understand that this is by no means guaranteed in times where "expecting the unexpected" has become the norm.
Are you interested to know what your property is worth in this time of increased buyer activity? Please click the button below for a complimentary consultation with one of our area specialist brokers or generate a data-rich digital valuation.
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Author: Quay 1 International Realty
