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Follow on Google News | Affordable East London property activeThere’s lots of action right now in the East London property market, especially in the lower-priced sectors.
“There has been a definite increase in demand in recent months, reflecting the improved fortunes of the motor industry which is the mainstay of the local economy. We have also seen business improve in the East London IDZ. “However, most salaries here are not high, so the majority of potential buyers have limited affordability. In addition, the recession has made consumers extremely cautious and determined to secure good value for their money when they do buy.” Nevertheless, he says, the market has been helped by the introduction by some banks of special home loan products for first-time and for lower-income buyers, and by declining interest rates. “Sales are definitely up on this time last year and we anticipate continued growth, especially as current pricing still offers excellent opportunities for investors as well as homebuyers.” The new office, which was officially opened this month, is located in Greenfields south of the Buffalo River but serves all areas of the city to take up the additional market demand now and expand on the success of the original Chas Everitt franchise in East London. # # # A leading real estate group in South Africa, with a committed international focus, the Chas Everitt International team delivers an outstanding property service to the international real estate investor and South African property buyers and sellers. End
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