Average selling price in Harfield up by 14%
Category Property news
Propstats figures indicate that the average selling price in Harfield has risen by 14% over the past twelve months. It now sits at R1 903 356 compared to R1 671?796, which was the average selling price achieved during the preceding twelve months,' reveals Mike Greeff, CEO of Greeff Properties, an exclusive affiliate of Christie's International Real Estate. 'The significant stock shortage is, however, reflected in a lower total sales revenue for the area achieved over the past twelve months - this came to R85.651 million, compared to the previous twelve month period total revenue, which came in at R90.277 million,' says Greeff. He adds that more and more sellers are achieving their full asking price or figures very close to that, with the past twelve months' average differential between asking and selling prices down to as little as minus 3.1%, according to Propstats.
Greeff agents report achieving full asking price for two of the Harfield properties they have sold in the past month. These were a two-bedroom, one-bathroom home which sold for R1.75 million on the day it was listed and a two-bedroom, one-bathroom home which fetched R1.55 million, and sold within two weeks. 'A three-bedroom, two-and-a-half bathroom maisonette in a complex, was sold by Greeff agents for R2.1 million, within two weeks of being listed, and this selling price represented a significant leap from the previous selling price of R1.846 million achieved by the same property only six months previously,' says Greeff.
The highest price achieved in Harfield over the past twelve months, according to CMA, was R3.50 million for a double-storey house with four bedrooms, three bathrooms, three reception rooms and a pool.
'Buyers should budget for an average of R7,551/m2 according to CMA figures, but the price per square metre can vary widely from around R14 000/m2 down to approximately R4 500/m2 depending on the state of the home and the street location,' says Greeff . 'The majority of buyers or would-be buyers in Harfield are young professional singles and couples, as well as families with young children,' adds Greeff. He says that Harfield has managed to maintain and indeed grow the base for its quirky appeal, and buyers are prepared to sacrifice space for the ambience and character the suburb boasts. 'Buyers are drawn to Harfield's fascinating heritage and historic charm. The suburb is home to numerous Victorian and Edwardian semi's and freestanding cottages, plus an increasing collection of renovated properties, while the Harfield community is known for its closeness and suburban pride and celebrates its connections and location through an annual carnival,' says Greeff. He adds that the suburb's location, close to the railway line and serviced by its own station, the easy accessibility of Rosmead Avenue in Kenilworth as well as Main and Imam Haron Roads in Claremont, make public transport a convenient option. 'Harfield is also close to leading Southern Suburbs schools,' says Greeff. Also known for its restaurants and cafes, Harfield is a relaxed and popular foodie destination.
Author: Greeff
