TZANEEN – In Tzaneen, price still decides how fast a home sells, with well-priced properties moving quickly, while overpriced homes are left sitting on the market, according to local property experts.

Well-priced homes sell, overpriced homes linger

Property specialist and sales executive at RainMaker, Francois du Toit, says the market remains slightly more favourable to buyers than sellers. He explained that there is a healthy supply of homes, giving buyers a wide range of options.

Higher interest rates have slowed the pace of transactions, which has forced many sellers to negotiate.

“Well-priced homes in sought-after suburbs such as Arbor Park and Aqua Park continue to sell reasonably well, while overpriced properties tend to stay on the market longer,” Du Toit said.

Phillip Mahlatji of RE/MAX Northland Realty agreed that Tzaneen is generally a buyer’s market. He noted that although interest rates eased slightly, buyers remain highly price-conscious.

“With a good selection of properties available, buyers have the upper hand in negotiations, and sellers need to be realistic with their asking prices to secure a sale,” he said.

Market shows resilience despite economic pressures

Despite broader economic challenges in recent years, both experts said the Tzaneen property market has shown resilience.

Demand for residential property remains stable, particularly in established suburbs, security estates, and lifestyle developments.

Du Toit attributed this to better-informed buyers who conduct thorough research before making purchasing decisions, while Mahlatji added that the stabilisation of interest rates has boosted buyer confidence.

New developments boosting property appeal

The experts also pointed to major developments in the area as having a positive impact on the property market. These include the expansion of Mediclinic Tzaneen, growth at the Tzaneen Lifestyle Shopping Centre, and other new commercial projects.

“Investment around Mediclinic Tzaneen has increased demand from healthcare professionals and families wanting to live close to medical facilities,” Du Toit said. “New retail developments improve convenience, create jobs and enhance long-term property appeal, while ongoing infrastructure upgrades have increased buyer confidence.”

Mahlatji agreed, saying these developments give buyers better value for money.

“A buyer can invest R2m in Aqua Park or Arbor Park knowing that infrastructure is improving, healthcare is excellent, and the local economy is active,” he said.

What homes are selling for

Du Toit estimated that the median price for a typical 3-bedroom, 2-bathroom home in Arbor Park ranges between R2.15m and R2.95m, while similar homes in Aqua Park cost between R2m and R2.3m.

Mahlatji’s estimates were broadly in line, placing the median price in Arbor Park at around R2.025m, with most family homes and townhouses selling between R1m and R2.2m. In Aqua Park, he estimated a slightly higher median price of about R2.5m, with standard homes ranging from R2.1 million to R2.8m.

Properties in high-end secure estates, such as Golden Acres Estate, can push prices even higher.