Quarterly Market Review: Atlantic Seaboard & Cape Town City Bowl
Category Property Investment
For the 3rd Quarter of 2022, we are using a new format to provide a 'snapshot' of sales activity in Cape Towns Atlantic Seaboard and City Bowl areas.
The below infographics provide at-a-glance key data for each area.
Data is drawn from Propstats, which is used by most, although not all, Estate Agencies and it thus provides a baseline of recent sales activity, although most figures will be higher if all sales were recorded.
The good news is that with few exceptions, sales activity has improved compared with the same data for Quarter 3 of 2021.
The overall trend in the marketplace is a higher number of sales taking place, an increase in the highest sales price and average sales prices, and a significant decrease in the variance between list and sales prices, along with the average days on the market.
This all points to a continuing improving market, which confirms the busier buyer activity that most agents have seen so far in 2022 with a trend of semigration taking place.
We are yet to see any major impact of the rising interest rates however it will be interesting to see how this plays out so keep your eyes out for our next Property Market Snapshot coming out Jan 2023.
Please do not hesitate to contact me should you be interested in an up to date valuation on your property or know someone that is looking to sell.
Contact Cesar Alexandre: 082 931 6166
Author: Cesar Alexandre
