Plumstead has been one of the most active property markets across the Southern Suburbs and the ‘old traditional” part of the suburb, now has a new price record of R3.4 million for a three-bedroomed family home with a flat in Plympton Road, sold to a cash buyer by Seeff agents, Peter Thornton and Peter Marais.
“This is quite significant and the second recent price record in this part of the Southern Suburbs”, say the agents.“It seems that there is still some sense of buyer urgency here and, it is still a very well balanced market”.
This particular property was listed at R 3.475m and was on the market 57 days. It was on a sole mandate, something that the agents say contributed to the seller achieving a record price.
“The property attracted two further offers in the region of R3.3m, illustrative of the excellent demand still prevalent in the neighbourhood”, say the agents.
This price is significant considering that the bulk of sales in the suburb still falls below the R3m price band. Stock is still in short supply across the area and it is still a good time for sellers in the area to put their properties on the market.
Properties are still selling quite fast, often well within a month in the lower price bands as buyers continue to flock here to the area, say the agents. Prices are also still good as shown by this record sale.
The average difference between the asking the selling price is still just 5.9%, but more than two thirds of all recent sales were concluded for closer to or even still full asking price.