House Price Indices by Major Province and Major Metro
South Africa - FNB
The overall Western Cape house price growth rate continued to slow in the final quarter of 2017, although its City of Cape Town Metro still “defies gravity”. In contrast, the other 3 of the “Big 4” provinces showed house price growth accelerations late in 2017.
Examining the FNB House Price Indices for the country’s major regions, gradually slowing price growth in what has been the country’s top performing region in recent years, the Western Cape, continued in the 4th quarter of 2017.
The year-on-year average house price growth for the Western Cape measured 4.4% in the 4th quarter, slower than the 4.8% revised rate of the previous quarter and now significantly slower than the 11.1% multi-year high recorded in the 1st quarter of 2016.
This means that, not for the 1st time in recent years, the Western Cape House Price Index growth rate finds itself moving in the opposite direction to the other 3 of the “Big 4” provinces.
House Prices by major province and metro
Fix your property or sell as is?
South Africa - ReMax
What do you do if you want to sell your home, but it is in need of repairs?
If this is the situation, you have a tough decision to make about what makes more financial sense.
Either you will have to delay selling the home and spend the money to get the property in tip-top shape, or you can place it on the market and take the knock on the asking price.
It goes without saying that a home in good repair will achieve a far higher selling price than one that needs attention, says Adrian Goslett of RE/MAX. "However, fixing a home will cost money and will delay the sale process by the amount of time it takes to complete the repairs," he adds.
Goslett says that there are those in the property market that are looking for homes in need of renovation because they are more affordable, and they will be able to renovate the home to their taste, however, this is more the exception than the rule.
Fix your property or sell as is
Online photos can misrepresent vital aspects of a property
South Africa - IolProperty
Picture this real estate scenario ? like most shoppers searching for a home, you start on the web, checking listings and locations. You find a house that appears to be what you're after, and you tap into the photos for interior shots.
The house seems outstanding for the asking price. Everything appears to be in good physical condition, you're impressed by upgrade extras such as granite counters in the kitchen.
You call the estate agent and furniture to make it easier to sell. That's fine.
Virtual staging, by contrast, requires no physical furnishings, just software and imagination.
There's no limit to the types of digital makeovers that are possible. You don't like the wallpaper? Get rid of it with a click. Want that sagging ceiling in the bedroom to disappear? Prefer high-end ceramic floor tiles in the master bathroom instead of the lino that's actually there? Landscaping that looks more lush? Click, click, click ? you've got it all.
Leave a comment: