Pam Golding Properties Group Newsletter
PGP logoDate: August 2012

Residential Property News

Sustained increase in residential property sales a powerful factor in maintaining economic and social stability

Property comes to the fore as a primary area of investment

 

Gauteng residential property market records significant growth

Future looks extremely positive for housing market in South Africa’s economic powerhouse

Ensuring your home is correctly priced to sell is critical

Many factors need to be taken into account to arrive at a market-related price

 

Pam Golding Property group scoops top international awards and achieves global recognition

Key points of competitive differentiation

View our selection of properties from throughout Southern Africa. Click on the region below.

Krugersdorp - R8,1 million

Inspired by nature, shaped by architectural design & perfected by passion for detail

Crisp, clean lines encompass this beautiful architecturally designed home, by Bob van Bebber of Boogertman & Partners (award-winning architect of the Soccer City Stadium). The harmonious combination of materials, textures and colours all create a perfect balance of luxury and sophistication. This magnificent family home embodies a vision of a stress free, soothing and a rejuvenating lifestyle. Massive glass sliders disappear as if they had never existed, designed to take full advantage of the property's stunning landscaped, indigenous garden situated on a double stand.

Charlaine Kruger
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M: +27 (0) 79 278 3200

Natalie Xenophou
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M: +27 (0) 76 767 4534

Oaklands - R12,5 million

Prepare to fall in love with this Top Billing & Garden & Home featured home

Prepare to fall in love with this palatial home set in a lush, treed garden on 1362m² which stands proudly in the heart of the highly desirable, leafy suburb of Oaklands nestled on the foothills of Houghton! Words fail to describe this truly inspiring, masterpiece of double storey contemporary architectural excellence! An immaculate modern and stylish home boasting a myriad of features which make this incredible home a perfect fusion of flow and design. From the generous Double volume entrance to free flowing receptions with sliders leading onto covered entertainers patio, garden and pool.

Brenda Courtney
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M: +27 (0) 83 649 9017

Dianne Stein
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M: +27 (0) 83 289 6163


Rivonia - R3,5 million

Something different & unique

Stylish home with cottage in beautiful landscaped garden setting. Spacious lounge with feature wooden flooring and fireplace onto fabulous covered patio and pool, separate dining room. staff accommodation.









Pat Dempster
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M: +27 (0) 83 601 2475

Wendy Goodenough
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M: +27 (0) 82 654 0911

Bloubergstrand - R3,5 million

Position par excellence

Split level 3-bedroom home in Blouberg extension with sea views from lounge and balcony. Open plan granite kitchen with scullery and dining room. Entertainment room with glass dome ceiling and indoor braai. Jacuzzi room. Double garage.














Rouvierre Kruger
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M: +27 (0) 83 540 8860

Noordhoek - R6,5 million

Summerfield

Sun filled and spacious! This lovely home boasts stunning uninterrupted 180° sea views - year round sunsets from Kommetjie to Chapman's Peak. Fabulous living accommodation and entertainment areas! The formal garden adds Continental charm and plenty of space to add your own personal interpretation of luxury villa living. In terms of enjoying the best of coastal and country living, this property offers excellent value.










Lindsay Bell
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M: +27 (0) 82 658 3002

Tamboerskloof - R14,5 million

Phenomenal views

Situated on one of the highest developed roads in Cape Town's City Bowl, this dual living home offers sublime vistas of Table Mountain, the City and a special glimpse of the Twelve Apostles too. Unusually, the views are from both the downstairs 1-bedroom apartment as well as from the upstairs three bedroom house. The house offers a spacious entertainment sized living-area with floor-to-ceiling view windows. This lovely space also opens to a sheltered courtyard with pool. The property includes domestic quarters and a double garage.

Bev Josten
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M: +27 (0) 82 571 6755

Andre Stassen
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M: +27 (0) 82 928 6139

Rob Maspero
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M: +27 (0) 83 447 6660

Stellenbosch - R14,25 million

Lifestyle gem in De Zalze

The epitome of peace and tranquility. Offering exquisite views and privacy in one of the most sought after positions on the estate. Quality finishes throughout. Effortless flow from the living areas to large undercover patio with pool. A wonderful family home, a true gem to cherish and an excellent investment opportunity.












Deanne Kriel
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M: +27 (0) 83 531 7827

Morningside - R7,9 million

A perfect piece of paradise between beautiful oak trees

Situated on Vergezicht Estate bordering the well-known Morgenson Farm. Very private with views over the orchards and mountains. Double volume with exposed rafters. 4 Spacious bedrooms all en-suite. Main bedroom with study, lounge, dressing room and full bathroom. Imported sanware. Very spacious lounge, dining room, family room and sunroom with built-in barbeque and frameless glass enclosure facing swimming pool area. Guest cloakroom. Imported Italian kitchen with integrated appliances and gas stove. Separate scullery/pantry and laundry. 2 Volcanic style and traditional fireplaces.

Lorraine Joubert
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M: +27 (0) 82 892 4386

Willis Coetzee
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M: +27 (0) 83 269 1014

Hermanus - R2,15 million

Solid family home with separate guest accommodation

This comfortable property is situated in a popular area of Hermanus, close to the schools and all amenities. On the ground floor there is a lounge with sliding doors to a patio, an open plan dining room with doors to the patio, a good size kitchen with a separate scullery,
2-bedrooms (mes) and a small study. Downstairs there is extra/guest accommodation consisting of 2 bedrooms, a bathroom and a lounge opening onto the garden. There is also staff accommodation with a bathroom. Double garage. Good sea views from the patio upstairs.






Santa Bedeker
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M: +27 (0) 82 772 7052

Beacon Bay - R4,8 million

Position and prestige rolled into one

Position and prestige rolled into one! This is a mesmerising property with river, estuary and sea views. If you've been waiting for a truly exceptional opportunity, this is it!








Hanlie Bassingthwaighte
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M: +27 (0) 83 659 8287

Grahamstown - R8,5 million

Set the stage for elegant entertaining

Magnificent family home, finished to perfection, offering style & grandeur. Perfectly positioned in Oatlands, this property boasts a large swimming pool, sauna and landscape garden. Double volume entertainment area spills out to the garden allowing for memory filled hours spent entertaining friends and family.





Daphne Timm
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M: +27 (0) 82 809 4283

Wilderness - R6,5 million

Water wonderland

EXCLUSIVE MANDATE. Architecturally designed to maximize the uninterrupted panoramic views which creates a calm, tranquil vista of Island Lake and the Serpentine River which all encompass the World Heritage Wetlands Site. This property offers everything one could ever ask for. Prime Location, space, luxury and privacy. Stylish and immaculate with a compact manicured garden and rim-flow pool which makes one able to enjoy the beauty of the superb views. A truly unique property, extremely well built and with an unusual appeal.

Desire Zwahlen
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M: +27 (0) 83 959 7050

Himeville - R2,35 million

Immaculate on Thomas Street

Gracious face brick home, in pristine condition and located in sought-after Thomas Street in Himeville. Set in a beautifully landscaped garden and overlooking the Drakensberg Mountains. Entry to the property is via a walkway to the front door and entrance hall. From there, move easily to the study, the large and gracious living room, the dining room or the guest cloakroom. The kitchen leads off the dining room, which has double doors opening onto a covered atrium filled with colourful pot plants and hanging baskets.





Angela Walker
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M: +27 (0) 82 772 8984

Simbithi - R9,995 million

Sole mandate - for the select few

Very private, 718 m2 architect designed
5-bedroom all en-suite house in secure golf estate overlooking the 2nd fairway. Boasting 3 reception rooms, modern kitchen and separate scullery, wine cellar, cinema room, 3 garages, excellent entertainment and living area flowing to covered patio and pool. Private guest-suite with lounge, bedroom, kitchenette and bathroom. Situated in a quiet cul de sac close to the estate's North Gate and 5 minute walk to the Simbithi Country Club. The architect's brief was to design a home that provided space, privacy and an excellent flow throughout the house.

Bea van der Merwe
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M: +27 (0) 72 756 7753

Belinda Souchon
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M: +27 (0) 82 849 3480

Kloof - R12 million

Summerveld sophistication

Step into sublime country living in this exclusive equine area reserved for the well - heeled. Magnificent 6 acres of level land with views to the sea. Colonial wrap around verandah to soak up the luxurious lifestyle. Superbly appointed and decorated with a unique European flair - this is set to impress. Decadent deck with sparkling pool for summer entertaining. Perfect 2 bedroom cottage as a bonus. 16 stables and 5 paddocks to boot.







Janelle Alford
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M: +27 (0) 83 797 7773

Malelane - R2,8 million

Great house, beautiful home

A beautiful property in a great & quiet area. The ideal home for the larger family with
4-bedrooms, each with own en-suite bathroom & view. The stunning open plan kitchen/ lounge area opening up to the swimming pool area & indoor braai makes this perfect for the Family that loves to entertain. A second lounge also opens up on the swimming pool area inviting the outside in. Beautiful garden with automatic irrigation system. Double garage with extra undercover parking. This home is modern, well planned & sophisticated. Can be utilized as a Guest House. Empty stand (694m²) for parking/ extra rooms available. Package deal = R3.2 million.

Suzette van Staden
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M: +27 (0) 82 485 9157

Hartbeespoort - R6,5 million

Peace and tranquility at Pecanwood

Sophistication and style, modern design and creative use of space, light and textures completes this beautiful home. Well-appointed downstairs lounge leads onto the large deck and sparkling swimming pool with exquisite views of the golf course and Magalies Mountains. Perfectly designed kitchen with timeless upmarket finishes situated upstairs with even more exquisite views. Under floor heating and breeze air throughout as well as a generator and alarm. Domestics quarters. View by appointment.



Erika van der Westhuizen
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M: +27 (0) 82 902 2054

White River - R8 million

True colonial magnificence

Once in a lifetime does a property of this statue come onto the market. Situated on 4.5 hectares within a private game reserve is this beautiful home. Classic high ceilings and huge rooms are a hall mark of this true classic. Exceptional distant views and landscaped gardens are just some of the surprises that await you.








Candy Gehle
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M: +27 (0) 82 330 0845

Mozambique - $850,000

Amazing house in Truinfo

This truly magnificent 7-bedroom house is situated in the Triunfo area. The property includes a lovely swimming pool, large parking area as well as a balcony leading from the bedrooms overlooking the swimming pool and garden. This is a great opportunity to own this lovely modern home.









Celio Ali
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M: +258 (0) 840 378442

Botswana - BWP4,995 million

So much to enjoy

This unbelievably spacious home set on 2500m2 of land has it all! 5-Bedrooms, 1 bathroom and 4 en-suites, 3 reception rooms plus a dining room and huge kitchen. A lovely private patio flows off the one reception room to an established garden, another garden leading off the breakfast nook leads to the pool and entertainment area. There is an irrigation system, generator and so much more. This property REALLY needs to be seen to be fully appreciated and we look forward to showing you.

Wendy Lewis
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M: +267 (0) 752 46411

Debbie Albers
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M: +267 (0) 723 06865

Kenya - KSH150 million

Traditional African hut inspired house for sale in Runda

There are properties and then there is this imposing traditional African Inspired house for sale in the heart of Runda. Pam Golding Properties is proud to present this beautiful 5-bedroom and all en-suite traditional African Hut inspired house. The house has been tastefully finished off to a high standard with beautiful manicured lawns fit for royalty. the imposing Lamu doors ushers one into a well-lit reception area, a spiral staircase and a fully fitted kitchen. The kitchen comes with a double door fridge, fitted six burner cooker, dish washer, fitted cupboards, a pantry and an adjacent laundry area.

Peter Gatabaki
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M: +254 (0) 720 018717


Home Loans

Sustained increase in residential property sales a powerful factor in maintaining economic, social stability – PGP CEO

The sustained upswing in the South African residential property market is creating stability and optimism in an environment of investment uncertainty in the economy, related to the volatility of the rand against world currencies, and fluctuations in the stock market.

“It’s not unusual for property to take over as a primary area of investment when other options appear unpredictable,” says Dr Andrew Golding, CE of the Pam Golding Property group. “Residential property offers strong incentives for investors, with capital growth being the primary attraction and a reliable rental return another.

“Some remarkable increases in home sales volumes and value  - over 25% in ‘hot spots’ within our national network of sales offices - are a strong indicator of a swing to residential property investment. While the top end of the market has been inclined to lead the trend, it is closely followed by medium and lower priced properties. We believe this is a trend that will continue for the foreseeable future.”

Laurie Wener, MD of Pam Golding Properties (PGP) in the Western Cape metro region says that a by-product of home ownership is social stability. “It’s a long-held and well-supported belief that people who own their homes have a stronger sense of security and social responsibility. Home ownership is and always has been a driving motivation in South Africa.

“As a province with a high per capita home ownership among individuals over 40, the Western Cape is also largely a socially stable community. Home ownership is a major factor in creating and sustaining a viable middle class, the cornerstone of a healthy economy,” she said.

The region continues to be, in terms of top and lower end property prices, a Cape of contrasts, with recorded sales of over R100 million on the Atlantic Seaboard  and R70 million in Southern Suburbs for  single dwellings, yet on the other hand, comfortable, attractive homes for sale around R1 million.

There is, says Wener, still a big head of steam in the Cape residential property market, which shows no sign of topping out.  According to market statistics, listing prices at the top end of the Clifton market for instance, are closer by 12% to being met than in 2013, when the average listing price in the suburb was R13 868 276 and the selling prices were 20% less. To date in 2014, the average selling price in Clifton is R17 541 481 - only 8% less than listing price, representing an average price, year on year which is 26.5% higher than last year.

Buyers at the top end of the market are also to be found investing in lower priced properties such as flats and town houses – very often for occupation by their student children, ageing parents or even in some cases, employees.

Agents have reported the sale of a 135sqm Sea Point apartment for R200 000 more than its asking price of R3.35m, within one day of it having been listed.

“The market has its problems right now – but they are not about selling prices or demand. The real problem, resulting from years of caution in the property development industry, is a serious shortage of stock,” says Wener.

For further information contact Pam Golding Properties on 021 673 4200 or email laurie.wener@pamgolding.co.za

Pricing your home to sell

With stock shortages increasingly prevalent in the residential property market in South Africa – particularly in sought after metro areas and popular hubs, some may believe that with a return to a sellers’ market, pricing a home to sell in the quickest possible time is a simple matter.

This is not necessarily so, says Pam Golding Properties. Selling your home is a big decision and one that requires a great deal of thought and planning. While understandably, sellers look to achieve the best price for their home, home buyers and investors are savvy and street-wise – they are researching the market to gain a good perspective on properties on the market in their preferred suburbs and are only prepared to pay realistic, market-related prices.
Ensuring the property is correctly priced is critical. Today’s buyers have easy access to a wealth of information and so they are well educated regarding the residential property market and do their homework before committing to a purchase.

Pricing a home to sell requires a subjective view of the property, says Stuart Millar, Pam Golding Properties area principal in uMhlanga and uMdloti. “Sometimes people start at the ‘wrong’ end and work backwards, by looking at how much they’ve spent on the property and what they’d like to achieve for it. It’s advisable to consult a qualified and experienced agent in the area who knows what prices have actually been achieved for comparable homes in the recent past.”

Ling Dobson, PGP area principal in Knysna and Plettenberg Bay concurs: “We often hear, ‘I’m upgrading to a larger home and I need my house to sell for ‘Rx million’ otherwise I won’t be able to acquire the property I want.”

Most suburbs have a ceiling price which obviously fluctuates with market conditions, says Laurie Wener, MD for Pam Golding Properties in the Western Cape’s Cape Town metro region. If the costs of building and renovating exceed that which can realistically be obtained in the market place, then this is over-capitalisation. However, over-capitalisation can be reduced by capital growth achieved over the time that the property is held.”

Greta Daniel, sales and operations manager for Pam Golding Franchise Services agrees, and says a suburb’s ceiling price can best be ascertained by an area specialist, based on historical knowledge of the area and backed up by data such as the Pam Golding Residential Property Index, which combines information based on the ‘repeat sales’ methodology incorporating residential property transactions registered at the Deeds Office - as well as other data sources across the country’s residential property market, including Lightstone and PGP’s own extensive sales data.

“This professional knowledge, together with commitment by the seller and agent on a sole mandated marketing drive, will deliver the best results for the seller and buyer. Multi-listing services where agents deposit the stock in a common pool and have no accountability, invariably result in time lost and the seller having to accept the lowest price from competing agents,” says Daniel.

A misconception is that simply considering asking prices of properties advertised for sale provides a good idea of what these properties are actually worth. “As these properties have not yet sold, the asking prices may be too high, and some of them may have been sitting on the market for some time,” says Annien Borg, MD for Pam Golding Properties in the Boland and Overberg regions. “One should rather look at properties which have sold and this is where a professional estate agent comes in.  A reputable agent with a sole mandate on a property will not - as some may incorrectly assume – put a low value on a property in order to sell quickly.”
The correct market-related price will ensure that your home is priced to sell. As a starting point, consult an experienced and qualified agent in the area to conduct a comparative market analysis of similar homes which sold recently in your neighbourhood. However, as Wener points out, a comparative market analysis (CMA) only permits pricing on a historic basis, which can result in undervaluation in a bullish market.

“While using the CMA as a basis, the general market activity, sentiment and many other economic factors must be taken into account in assessing the current value, which is where an experienced  agent’s skills come to the fore. Also, many properties have an emotional draw and it is not unusual for beautiful furnishings or a lovely garden to attract a premium price over the similar but less appealing house in the same street. The more buoyant the market, the greater a role the emotional factor can play.”

In order to get the best selling price, a seller will also need to pay attention to the preparation of the house to ensure it is appealing and well-presented within its price bracket before embarking on the sale. In this way, potential buyers are presented with the ‘best buy’ in terms of value in your price band and area.

“This is especially relevant in the current market, as stock in popular or high demand areas are in short supply, which means that buyers are literally waiting to see what new stock comes onto the market,” says Carol Reynolds, Pam Golding Properties area principal in Durban, Durban North and La Lucia. “This makes correct pricing crucial as the buyer pool is in action in the first two weeks of the mandate being listed and launched to the marketplace, so if you don’t capture that market then,you’ve lost those buyers. And the last thing you want is for your property to sit on the market for a lengthy period and then become ‘stale’, as buyers know when a home is over-priced or remaining unsold, in which case they dismiss this property and move on.

“It’s true that every property has more than one price. Firstly, what the seller thinks its worth, what the agent values it at and what the buyer is prepared to offer. Then, of course, there is the final settlement price.”

Wener says in high demand areas, such as the Cape’s sought-after Atlantic Seaboard and popular Southern Suburbs, the fact that the demand exceeds the supply tends to narrow the margin between ceiling and asking price and may even eliminate the margin completely when comparative offers result in the asking price being exceeded.

She says the luxury or high end category of the housing market is more difficult to evaluate due to the uniqueness and lack of comparative properties. “Sellers in this sector of the market also have their own views on what they want for the property and often one has to test the market at a very optimistic price and gauge the market response. Even the most experienced agent may be incorrect in their assessment and there is also a high degree of subjectivity, especially with unique or iconic properties and in an environment of market fluctuation,” she says.
As a guideline, the following factors need to be taken into consideration.

  • What you paid for your home has nothing to do with its present value
  • The price you would like to achieve for your home doesn’t control the asking price
  • The value other agents put on your property is not always accurate
  • What a valuator says your home is worth doesn’t determine the price in the market
  • The current market determines the value of your property.

Bear in mind that if your property is over-priced, it loses prospective buyers and eliminates offers, and also limits financing which can eventually lead to a lower price.
Adds Reynolds: “There is a misconception that multiple agents marketing a property will result in a quicker sale. This is not the case, as agents prioritise stock which is marketed on a sole mandate – a method which is most likely to achieve a better price for the seller. For example, we’ve had several recent situations where we sold properties for full asking price as the homes were correctly priced. As a result we had two and even three buyers competing for them, which served to drive up the price. Where multiple agencies have listed a property the seller is at a disadvantage as the agents compete with one another rather than focusing on achieving the best market-related price for the seller.”

For further information contact Pam Golding Properties on 021 7101700 or email headoffice@pamgolding.co.z a.

Gauteng residential property market records significant growth

“Gauteng is experiencing significant growth in the demand for residential properties, to the extent that in many areas demand for homes is outstripping supply.”

This is according to Dr Andrew Golding, chief executive of the Pam Golding Property group. Dr Golding points out that a significant infrastructure development, in addition to both residential property and commercial property development, is under way in Gauteng. “This, plus the strong demand for homes in the region, would appear to indicate positive future growth in property transactions and prices,” he adds.

“The residential property markets in Johannesburg and Pretoria have been more than resilient over the last 12 to 18 months, which includes renewed activity in the top end of the market where Pam Golding Properties is strongly positioned – with house prices in this sector showing notable growth,” says Dr Golding. “While the top end of the Gauteng market has always held its own, it is clearly evident that savvy property investors have recently started to identify further opportunities to both buy and sell residential real estate in this sector, with many expanding their property portfolios.”

Pam Golding Properties (PGP) agents in Gauteng have noted increased interest from some   foreign investors looking to take advantage of what they consider value-for-money opportunities in Gauteng. This has been encouraged by depreciating value in the rand and increasing African wealth. Dr Golding notes that many of these investors are from other countries on the continent and looking to secure residential property in South Africa and especially in Gauteng.

“We commented earlier this year that the Gautrain has been a catalyst for further development and growth in the region, and has largely had a positive impact on property prices in areas where the stations are situated. This has been confirmed by a recent report published by property research company Lightstone, which shows that properties close to the Johannesburg, Pretoria, Rosebank, Hatfield and Sandton Gautrain stations have significantly benefited from having Gautrain stations situated nearby,” observes Dr Golding.


The Regency - Menlyn

He points out that the PGP branches in Gauteng, such as Hyde Park and Fourways/Dainfern, have consistently been the top performers within the Pam Golding Properties group over the past year with regard to number of sales as well as sales turnover. Other PGP offices such as Pretoria and Centurion have also had an impressive 2014,” he adds.

In October, the PGP Hyde Park office succeeded in achieving turnover of R185 million, which equals the branch’s best ever October performance prior to the slowing of the residential property market in October 2008. While some of Cape Town’s seafront properties may be fetching record prices, the number of property transactions in Johannesburg are significantly higher than its coastal counterpart, observes Dr Golding.

PGP Fourways/Dainfern is an example of another Gauteng office that has been a consistently impressive performer within the group. Fourways reports a 47% improvement in sales turnover this year when compared with 2013 and a 29% increase in the number of units sold. This is a reflection of the attractiveness of the area offering a work, play and live lifestyle. In October, the office achieved sales of over R100 million, which was 75% over budget and a new record. “The Fourways area is quite simply flourishing,” points out Dr Golding.

“Properties in estates across Gauteng are in particular demand, as are apartments offering a convenient and colourful urban lifestyle in centres such as Sandton and Rosebank. Clusters and townhouses are also ever popular within the residential suburbs providing a secure lifestyle in a community environment with easy access to amenities and facilities.”

“The Sandton CBD has seen considerable densification in recent years and the development of a number of high-rise executive apartment blocks,” notes Dr Golding. “Apartments in the CBD of Sandton are marketed from R1.7 million and have been consistently listed in the high R20-millions. Development in the area is ongoing, with office and retail property worth billions of rands continuously being built and road and transport networks upgraded.”

According to Dr Golding, Johannesburg and Pretoria are experiencing a surge in developer interest with a range of products being constructed, from smaller- to medium-scale developments of 10 to 50 units to large-scale 150 units, as well as offerings in multi-million rand schemes.

“After 2009, most small- to medium-sized developers in the northern suburbs adopted a wait and see approach to the market. The renewed interest they are showing in the market is a further indication of confidence that investors have in the future of residential real estate in the region. A number of significant residential property and mixed-use developments are now on the horizon and we are delighted to have been appointed to market and sell several of these and which we will bring to market over the next few months,” notes Dr Golding.

The Steyn City mixed-use development in the Fourways area that will be launched in March next year is one such example of a large development that is under way, but there are a number other initiatives that are also coming on stream shortly.  These include the prestigious Park Central in Rosebank; Melrose Arch, where an additional residential phase is being developed; The Regency in Menlyn, Pretoria; and Eagle Canyon in Roodepoort. These represent some of the most exciting initiatives that we have seen in this market in South Africa for some time,” says Dr Golding.

It is not just Johannesburg that is seeing considerable growth: with massive cranes rising into the sky, the Menlyn area east of Pretoria is starting to resemble Sandton of the early- to mid-2000s. Just as the cranes signified robust development in Sandton a few years ago they are an indication of just how rapidly the Menlyn node is growing at present. To meet the expected future demand for accommodation within Menlyn, a new luxury high-rise apartment development, The Regency, is being built in the Ashley Gardens area, close to Menlyn Maine. PGP is marketing the 147 apartments, which are priced from R995 000 to R2.3 million.

“We are confident that the economic powerhouse of South Africa is in the midst of a positive housing market resurgence and we do feel that the outlook overall for the residential property market in Gauteng is bright,” concludes Dr Golding.

Pam Golding Property group scoops Best Estate Agency Africa at both Overseas Property Professional Awards & International Property Awards


In today’s rapidly evolving and increasingly competitive and sophisticated property environment, the marketing of real estate is a highly specialised business as real estate agencies compete not only for stock, but also to gain the attention and trust of informed and knowledgeable potential buyers who have access to a wide range of market-related information across a broad spectrum of media, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“And with constant advances in technology potentially serving to level many of the playing fields, an ongoing challenge for any business is to find points of competitive differentiation in all markets in which it operates, which is why striving to achieve international standards of excellence and thereby global recognition is of key importance.

“As a result, we are extremely proud to have received a number of prestigious awards in London and Dubai recently. At the Overseas Property Professional Awards for Excellence held in London on 27 November (2014), Pam Golding Properties won Gold for Best Estate Agency Africa, Gold for Best Online Service, Silver for Best Global Estate Agency and Silver for Best Media – for our Imagine magazine, In addition, we received the highest honour, the 5 Star award for Best Real Estate Agency South Africa and Best Real Estate Agency Africa at the acclaimed International Property Awards held in Dubai on 4 December,” says Dr Golding.

Competing against international companies from around the world, this is the third year Pam Golding Properties has received top accolades at these globally respected awards. Established in 2004, the OPP (Overseas Property Professional) Awards is one of the property sector’s most auspicious events, judged by a panel according to stringent criteria.

A world-renowned mark of excellence with judging by a panel of over 80 experts, since 1995 the International Property Awards have celebrated the highest levels of achievement by companies operating in the four main sectors of the property and real estate industry – development, architecture, interior design and real estate. Stuart Shield, president of the International Property Awards, said: “Levels of excellence and innovation continue to rise within the property industry year after year, making the attainment of one of these awards increasingly difficult, yet even more valued.”

Commenting further, Dr Golding said the judging of the awards took into account numerous criteria. “The recent global economic recession and South Africa’s resilient housing market performance has once again highlighted the cyclical, consumer-centric and ever-changing nature of property markets today. All businesses have had to adapt to a new set of prevailing economic circumstances and adjust their strategy accordingly. While the market dropped dramatically in 2007 but has been steadily improving ever since and looks set to improve further in 2015, the residential property market has changed and is impacted by a number of additional factors including access to finance and in particular, market sentiment.

“As with most industries, only well run real estate businesses based on a long term, sustainable business model survive and thrive in difficult times. While there has been a considerable improvement in the market it is still challenging for agents, who have increasing demands placed on them. In today’s environment they need to be qualified professionals, coupled with the fact that there is a significant amount of knowledge required in terms of the market itself, as well as legal and financial implications, among others. With the manifestation of the digital age and the exponentially increasing consumer-centricity of the world, estate agents have had to modernise, digitise and remain ‘connected’ to clients in a process of continuous development.”

Dr Golding said furthermore, agents have to offer real value and excellent client service throughout the selling process, providing insightful knowledge and professionalism, pricing strategy and negotiation skills as opposed to primarily property marketing. “While nothing can replace this personal service and commitment, there can be little doubt as to the impact that the web has had on buying behaviour, including real estate company websites as well as property portals. Our website, www.pamgolding.co.za, which provides a personalised experience, receives in excess of 300 000 visits each month which comprises approximately 200 000 unique visitors who spend an average of close to six minutes on our site on each occasion.


“In November (2014), this resulted in excess of 2700 leads being generated. Interestingly, some 32 500 visitors returned to the site more than five times during the month, which is indicative of the intensity of search behaviour. However, print advertising continues to play an important role within the buying cycle - bearing in mind that this buying and selling process is generally over a protracted period of time, with the various buying needs changing as the cycle progresses. This means that print and web advertising play various complementary roles during the cycle.”

For further information contact Pam Golding Properties on 021 7101700 or email headoffice@pamgolding.co.za.

AR
Monterey, 12-14 Klaassens Road, Bishopscourt, Cape Town, 7708, South Africa