KEEPING YOUR FINGER ON THE PULSE OF THE PROPERTY MARKET

Message from the CEO

LEADING THE INDUSTRY

Jonathan Russell Smiedt

Chief Executive Officer

South Africa’s economy remains in the international spotlight as news of the recent repo rate cut is being analysed. Economists have acknowledged the short-term growth that may come from this repo rate cut, but have simultaneously warned that it is not by any stretch of the imagination a solution for the structural problems that could be currently weighing down our economy.

For the man on the street though, life goes on and plans are made, whether to acquire first time property, getting rid of additional properties or simply studying market trends as they ponder their next move.

This was evident at our multiple auction last week. The One&Only Hotel, home of ClareMart’s multiple auctions, was packed to capacity with hardly any standing room left. Word is definitely out – the auction floor offers tangible and unique benefits to both buyers and sellers.

We are seeing a new breed of bidder attending and bidding at our auctions. Traditionally, the auction buyer was a seasoned investor, qualified cash buyer and looking to find investment properties that would yield significant returns either from the rental market, or simply by growth in value year-on-year.

The Seller who has never considered auctions a viable vehicle to use, is exploring this avenue and seeing results that match their expectations.

These sellers are now also seeking to acquire other properties, and have come back to the auction floor in pursuit of their next purchase. We welcome this growth in the market and will continue to innovate and push the boundaries of the real estate industry.

Some of our recent successes have been phenomenal for the sellers. Kensington on the Cape Flats is seeing surprising growth in property values as the demand for property increases. ClareMart sold a family home in this neighbourhood for R1 921 650. This proves that the auction floor can unlock higher prices than sometimes anticipated.

A three bedroom house in Green Point sold for R6.7m and the seller was most satisfied with the offer. Once again, this goes to show that the auction buyer is prepared to pay what the market dictates properties are worth.

One of the highlights we have seen in recent times was the sale of a Fresnaye property in the highly sought after De Wet Road that sold for R17 460 000 . Traditional estate agent channels failed to sell this property, despite extensive marketing efforts. Our methods are tried and tested and produce results, where none were previously achieved.

August is upon us and we have some exciting on-site auctions coming up in the next few days.

On Tuesday 8 August a quaint two-storey townhouse in Mowbray will go under the hammer, followed by a renovator’s dream home in Upper Woodstock, with breathtaking harbour views on Thursday 10 August.

The highlight of the year has to be the very grand award winning Bona Dea Private Estate in the Hemel and Aarde Valley in Hermanus on Wednesday 23 August. This property, draped in grandeur, opulence, luxury and exclusivity is not your average investment purchase. It is in a league of its own and will appeal to a very particular property connoisseur and indeed visionary investor who can take an already 5 star venue to even great heights.

Our regular Absa Vehicle Auction is back on the calendar on Thursday 17 August and we look forward to another very successful vehicle auction for both the private buyer and the dealerships seeking to make a good value purchase.

ClareMart remains committed to service excellence across the board and with our Team growing, there is simply more capacity to service the needs of new and existing clients who choose to take that special journey with us.

See you on the auction floor.

Jonathan Russell Smiedt
Chief Executive Officer