We are more than half way through the year and with Spring fast approaching we are certainly seeing an uptake in properties being sold in the private property sector. It has been an eventful July and despite winter holidays, the Claremart Auction Group has been busy with over R28 500 000 worth of properties sold on our auction floor this month.
The announcement by the South African Reserve bank to keep the Repo Rate the same at 6,5% per annum was welcomed by consumers and will certainly have a positive effect on the market. This combined with some much needed rainfall and sunny days in the Western Cape, should boost consumer morale.
We continue to see high demand for blocks of flats and one of our highlights was the sale of a block of 12 apartments in Diep River for R6 400 000, we also sold the landmark building that housed the Big Issue Magazine for many years for R4 200 000. We continue our success across the country by recording some big sales in Johannesburg as well as the Eastern Cape. We are looking forward to some exciting opportunities coming up across the country, so be sure to keep abreast of our auctions through our supplement and our website.
August will hold some great investment opportunities with prime properties in Milnerton, Noordhoek and all the way up the West Coast. This month will once again see our bi-monthly ABSA Vehicle auction as well as the auction for the Breede Valley Municipality offering our buyers the opportunity to purchase some surplus vehicles and equipment from the Municipality. We will also be bringing an opportunity to acquire a farm in the Ashton area, together with some farming and butchery equipment.
Our auctions continue to bring buyers and sellers together and we are presenting our clients with unconditional, market related offers which are fair to seller and buyer.
Claremart is looking forward to an exciting few months and to seeing you on the auction floor.
Andrew Koch & MC du Toit