Luxury homes marketer Ennik Estates has recently closed a succession of home sales at or within 5% of asking price in Johannesburg’s Northern Suburbs and Sandton – particularly in the price range from R5-million to R8-million-plus.
“This is a sign of acceptance by buyers and sellers of upper end homes that current market conditions will persist for the foreseeable future,” says founder and CEO Ronald Ennik.
“It is also a welcome indication that more and more sellers in this market are allowing themselves to be guided by the expert advice of the best people available to give it – their appointed agent.”
Ennik says diehard sellers who persist in waiting for the market to return to ‘normal’ will wait in vain. So, too, will buyers who stubbornly hang on for that bargain basement deal to come along.
“It’s not going to happen!
“The reality is that current conditions are the norm – and will remain so for some time….even though home prices are increasing marginally in real terms.
“Buying and selling a home will always be an emotional experience – driven by self-interest. It is therefore all the more encouraging that top end buyers and sellers alike are doing their homework meticulously these days – and closing the price perception gap in the process,” Ennik concludes.
Ennik Estates is the exclusive affiliate in Gauteng of US$100-billion sales a year Christie’s International Real Estate (the global luxury property arm of the world’s largest and oldest fine art auction house).