Buyers hold back at first sale of the year

Buyers take a 'wait and see' response to Aucor Property's first auction of the year last week when muted interest saw a number of lots being passed through.

“It was not an easy day. We were not expecting fireworks in spite of a better turnout than expected,” Mark Kleynhans of Aucor said.

“There seems to be a disconnect between sellers’ expectations and what buyers are prepared to pay. It’s definitely a buyers’ market. Buyers who stick to fundamentals can do incredibly well in the present market,” he said.

Of special interest was a 280.2ha trout retreat in Dullstroom, offering a 21-room hotel plus three cottages and 10 trout dams. It was passed through.

Other lots on offer included 24,243ha residential land at Noordwyk and 313ha consisting of five land portions offered as one lot at Geduld, Springs. There were no opening bids.

Energy House on Moseley Street in Doornfontein, with a gross building area of 1,335m², was knocked down for R2.4m. The sale of a three-bedroom, twobathroom home in Kyalami Estate, which came to the market as part of a divorce settlement, was postponed.

A vacant three-storey building described as a commercial renovation opportunity on Barney Simon Street, Fordsburg, fetched R3.15m.

A five-bedroom, all en suite residence in upmarket Fernbrook Estate was passed over.