PROPERTY: Surveys Provide Property Investment Guidelines
Recent Gauteng Business News
Residential property surveys provide valuable pointers to soundly-based buying decisions in a volatile property market, says a leading property commentator.
Gerhard KotzĂ©, CEO of the ERA South Africa property group, says that while the market of the moment may be somewhat confusing, the surveys highlight areas that deserve attention, particularly where they appear repeatedly in different studies by property research and support services groups.
For instance, he says, Protea Glen in Soweto occurs on two of the latest ‘Top Ten suburbs’ lists, (both by the Knowledge factory, the latest of which was published in July), while Westcliff in Gauteng and Steenberg Golf Estate in the Cape also appear twice, in surveys by the Knowledge Factory and the Lightstone group respectively
Explains Kotze “The surveys were conducted on different bases. For example Protea Glen appears in surveys of the top 10 residential areas by volume, while Steenberg and Westcliff featured in surveys on the highest average value and top 10 by value by the Knowledge Factory and Lightstone respectively.
Other interesting facets of the surveys are that in this year’s Knowledge Factory analysis, Gauteng figured prominently with eight out of 10 of the best-selling residential areas being found in the province. On the other hand in the top 10 by value analysis by Lightstone, seven out of ten of the residential areas are in the Cape Peninsula, including areas such as Clifton, Camps Bay, Llandudno, Constantia and Bishopscourt.
“Depending on your motivation for selecting a residential area these surveys are valuable confidence builders that you are making the right decision. Accordingly for example if you’re looking for a home with strong upside potential because of high demand in the area, you might look in Gauteng in the likes of Protea Glen, Cosmo City and Karen Park.
“Alternatively if you were perhaps looking to acquire property in an upmarket area you could not go far wrong by searching in the Clifton, Llandudno, Camps Bay and Steenberg Golf Estate areas of the Cape, Westcliff and Sandhurst in Gauteng or Zimbali in KZN.
“The message is that if you want to approach a property purchase scientifically you need to do your homework and consult an estate agent who is an area specialist.”
Business News Sector Tags: Property|