New buyers keen on property sites

Park Village Auctions' latest multi-property auction drew a strong response on the majority of the stock under the hammer.

Park Village Auctions' latest multi-property auction drew a strong response on the majority of the stock under the hammer.

The sale, which included a mix of residential, retail, office and development opportunities, saw keen bidding at the Wanderers Sports Club last Tuesday.

Park Village's prediction that the market is showing renewed activity - courtesy of interest rate reductions, improved electricity supplies and a stabilisation of business confidence - proved to be entirely accurate.

Of particular note, says Park Village spokesperson Roy Lazarus, was the number of new buyers at the sale.

"There was a discernible increase in the number of new faces, which appears to indicate a broadening interest in auction properties and we were pleasantly surprised at the degree of interest, with bid prices higher than expected, which in this market is very positive."

Importantly, he said, sellers were prepared to consider all prices.

Particular interest was shown in rental properties for the entry-level residential market and retail premises - in keeping with current consumer trends where decentralised shopping centres are increasingly popular, while a number of specialised properties, including a holiday resort, also attracted attention.

lFor further information tel 011-440-6797 or www.pvaproperty.co.za

X