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Aucor South will again bring to the auction floor two more bank repossessed properties on November 22. This time the properties are located in Parklands and Protea Hotel, Wilderness.

Aucor South will again bring to the auction floor two more bank repossessed properties on November 22. This time the properties are located in Parklands and Protea Hotel, Wilderness.

"Coastal has been hardest hit with the recent interest rate and NCA movements, and investors are rapidly offloading their excess portfolio holdings," said Aucor South general manager, Ariella Kuper.

While this can be interpreted as the death-knell to the coastal region, one should rather interpret this as an opportunity for those with access to finance.

"Holidaying is becoming extremely costly as prices tend to cater towards tourists with foreign exchange," Kuper said.

The Parklands property is another high demand unit in a burgeoning residential area. "Our most active areas for interested clients include Parklands, Somerset West, Brackenfell and Tyger Valley in recent months," said Kuper.

While the auction house cannot guarantee their upcoming stock, there is a certainty that whatever comes under the Aucor South hammer is a professionally marketed property that has been cleaned up to assist banks in turning adversity into opportunity.

Parklands will be auctioned on November 22 at 2pm and the Protea Hotel unit at 3pm the same day at Aucor South Epping 2 premises.

For more information call 021-534-4446 or galiai@aucor.com

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