DURBAN – Spring has seen the green shoots of increasing activity in the residential property market in the price band mainly below R3 million take further root according to Richard Day, Chief Executive of fixed-fee agency, Eazi.
"Encouragingly, Eazi’s confirmed sales in July and August 2019 were up 141 percent over the same period last year while August was 146 percent up on average monthly sales for 2019 to date," said Day.
Currently, Eazi's average sales price is just over R1.8 million, which confirms that the convenient, user-friendly fixed-fee offering has been well accepted by the marketplace, especially as they are seeing 95 percent of their offers being accepted by sellers.
"In addition, while our quickest time to sell has been one day, we recently sold a three-bedroom house in Kensington, Cape Town in just 10 days for the full asking price of R1 499 999," said Day.
The positive uptick the agency is seeing in residential property market activity is echoed by FNB, which reports that indicators point to a narrowing demand-supply gap, driven by both a mild improvement in demand and properties entering the market at a slower pace.