Cape Town's iconic Atlantic Seaboard - property market is it shifting?
Brent Townes
Franchisor for Pam Golding Franchises and Sothebys International Realty SA, Start up of High St Auctions, Consultant at Naspers and Pepkor groups
The Atlantic Seaboard has many sub-markets, and 2 of our Associates are conducting research into Bantry Bay and Camps Bay freehold property prices for our overseas clients. This project should be complete in the next 30 days whereupon they will benchmark against similar properties in New York and London.
A sign of a shifting market is many agents, with many listings, chasing fewer buyers when the market shifts from a seller's to a buyer's market. In addition, days on market typically escalate and price growth slows down.
Miranda Ross is conducting the research with Adi van Zyl, and together they will be calling sellers in the market to get their views on how they have priced their properties and share the benchmarking study results with them.