02 Dec 2010
While the property market's woes continue, occasionally there is a situation where a home comes onto the market, suits the prospective buyers like a glove and is sold immediately.
That's what happened recently when a Westville property in Beverley Drive was on the market for less than seven days. In fact it took just 22 days from the date the offer-to-purchase was signed to the new owners moving in.
The buyers viewed the Westville property on a Saturday and put in their offer to purchase. This was accepted on Monday and a week or so later the bond was granted. The sellers actually own a bed-and-breakfast facility in Hillcrest and agreed to move out immediately.
The Beverley Drive property has four bedrooms and two flats and was on the market at almost R1,8-million but it sold for R1,75-million.
According to Tony Hickman, chairman of Seeff KwaZulu-Natal, this transaction is confirmation of the fact that a correctly priced property will sell quickly and it will achieve close to the asking price.
Meanwhile in Queensburgh - a suburb not far from Westville in Durban - there has been a gradual uptick in property activity where houses in this suburb are selling for as little as R650k.
Seeff licensee for the suburb, Jan Vermeulen says that sectional title units in Queensburgh go for between R400k and R700k. He says there has been an upswing in sales in the area with 15 properties sold in October worth just under R10-million.
Vermeulen says that there are still a lot of distressed sales in the suburb.
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