Paarl’s Reasonably Priced Homes

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18 Dec 2012

Paarl homes continue to be in demand and maintain price levels that are well above average, even for such a prosperous area as the Boland.

This three bedroom, two bathroom home offers an undercover braai area, double garage and a garden. It is priced at R1.85 million - click here to view.

This is according to Lizette Joubert, Rawson Properties’ franchisee for Paarl, who says looking at the state of cleanliness , it is widely agreed that Paarl and Stellenbosch are the two best maintained towns in the Western Cape today.

She says buyers firstly often place a great deal of importance on Paarl having some of the longest established and best Afrikaans medium schools for both girls and boys in South Africa.

Secondly, she says, Paarl buyers also tend to rate proximity to sports facilities, especially golf courses as important. Most homes in the town are within 20 to 30 minutes’ driving time of such well-known golf courses as Boschenmeer, Pearl Valley andVal de Vie.

Some idea of just how strong demand in Paarl is can be gathered from the fact that Rawson Properties’ sales are up on last year and Joubert's franchise performance in November has put her team in the top five performing Rawson Properties franchises for the whole of the Western Cape.

This four bedroom, two bathroom home is on the market for R2.07 million - click here to view.

“The strong demand for homes in Paarl, she says, means that, in certain price brackets, any realisticallyand correctly priced homes will sell within two to four weeks.

Just how fast houses in Paarl sell was shown recently when a home listed at R895 000 found a buyer within two weeks. Another, at R1.395 million, was sold in six days. In both cases the achieved price was close to the asking price.

The big demand is now in the R1 million to R1.8 million bracket, says Joubert. This year 63 percent of their buyers have bought in that price category, with a further 20 percent buying below R1 million. 

Only 10 percent have bought above the R1.8 million mark.

This two bedroom, one bathroom home is located in a secure complex. It is priced at R1.395 million - click here to view.

Joubert says there are still sellers who insist on overpricing and sticking to their prices despite being given up-to-date, accurately calculated market analyses.

The dangers of this is shown by the fact that such homes, particularly those in the higher priced brackets, will often sit on the stock list for two years or more and, when they do sell, will go for less than their market value because reputable buyers with resources will have made their offers, had them rejected and then moved on to other buys.

Joubert says one such overpriced home listed recently at R2.6 million was eventually sold after two and a half years for R1.995 million, a price that she estimates to be at least R200 000 below its true value.

“Similarly, buyers who wait for ‘more reasonable’ prices are almost certain to be disappointed. Rawson Properties recently sold a home for R 1.395 million to a buyer who lost out on four homes prior to thisbecause of the fact that he was waiting for prices to decline.”

When he finally realised that prices were not coming down he was able to buy a house which, although satisfactory, was possibly not as good as the house on which he had underbid, she says. 

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