Arderne says in addition to the out of town and top-end buyers, there are always locals relocating and retirees moving in, typically looking in the price range between R1.5-million and R2.5-million, and who usually have to sell before they can buy.

He adds: "While buyers tend to make offers below asking price, it's a fact that values in prime positions in St Francis Bay have not reduced to any significant extent. There are, however, other properties that have been on the market for far too long, and these owners may well be asking unrealistic prices. Unfortunately, currently the demand for old-fashioned houses and for plots is not strong. Most of our sales have been in instances where we have had a sole mandate, which enables us to market the properties extensively and achieve the best price."

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