Simon’s Town Real Estate News

Simon’s Town Real Estate And Other News

Trends differ

March 25, 2007 – 8:11 am | by Johan

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According to Standard Bank the year on year house price growth has declined from 18.5% to only 6.9%. But Absa Bank tells us that the year on year growth has slowed down to 10.1%.

Why the differences and how does it affect Simon’s Town property owners?

Standard Bank uses the statistics for all homes sold and then calculate the median (midpoint or average). Absa calculates the property grow figures on properties between 80 and 400 square meters selling for R2.7 million or less.

It’s possible to deduct that the more expensive properties included in the Standard Bank figures were the reason why their figure is less than the Absa figure. The most important fact is that the growth has slowed down.

Are these figures and conclusions relevant to Simon’s Town’s property owners?

These figures are for the whole of South Africa. Simon’s Town needs it’s own property figures. (The intention of SimonsTownRealty.Info)

According to RPPR it’s taking longer to sell homes in the Cape Town area - including Simon’s Town - but the growth has increased by 27.7% year on year and the number of homes sold increased by 11.8%.

Simon’s Town property owners will in the future not have to rely on property trends for the Cape Town area or the whole of South Africa. No! Simon’s Towners will have their own dedicated Simon’s Town Property Trends.

SimonsTownRealty: Sell, Buy A Simon’s Town Property? Phone Today 021-7864028 or 082 870 2004

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