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KwaZulu Natal Becomes the Lifestyle Hot Spot in South Africa

  • Latest News
  • June 3, 2021
KwaZulu Natal Becomes the Lifestyle Hot Spot in South Africa

From one of the fastest-selling developments in the past few years to a semigration of note to KwaZulu-Natal’s North Coast, we unpack the uptick in property sales across the province.

The SA residential property market, like all property markets, is not a homogenous single entity but rather made up of tens of thousands of different suburbs and areas, each with their own set of nuanced factors which determine their desirability and affordability.

With this in mind, Sandy Walsh  MD of Property.CoZa South Africa reports that there have however been some trends and influences which have become apparent post lockdown, which were either not as prevalent pre-lockdown or not present at all.

In demand are appealing suburbs and peripheral areas in metros, as well as secondary cities and towns traditionally viewed as holiday or retirement destinations, as buyers are attracted by the more spacious homes and more balanced and relaxed lifestyle in these markets.

“Within the sectional title market, there is a shift towards larger units, as buyers seek more space for dedicated work areas and where possible, outdoor space,” says Walsh. “The semigration of South Africans to coastal towns has been a marked trend for 2021, with KwaZulu-Natal benefiting due to affordability and the lifestyle offering.”

The North Coast of KwaZulu-Natal is one of the best recreational fishing coastlines in the world. From Kosi Bay in the north to Durban in the south the opportunities for the avid angler are numerous and varied. In the northern region the waters are warmer, and the sheer variety of large predator fish make for some exciting fishing that cannot be matched anywhere else in South Africa.

Lifestyle and Investment in Real Estate

Rapid infrastructural development coupled with a desirable lifestyle have traditionally been significant markers resulting in sustained growth of a real estate market. On the North Coast of KwaZulu-Natal, a consistent amount of property is continuing to be sold, even during these unprecedented times and this demand clearly underscores the persistent popularity of the area.

The North Coast has always been a popular holiday destination and is now reinventing itself to become an area of choice for various types of investors. The area has enjoyed a long-term track record of outperforming the average national growth statistics, and this is expected to continue due to the demographics of the people living in the immediate areas as well as the many families who are still relocating here.

The following is a snapshot of the average property price across 16 areas in KwaZulu-Natal, including the North Coast:

Average property price in the KwaZulu-Natal Region

SuburbEstate FreeholdEstate SchemeFreeholdSectional Title
AmanzimtotiR1 700 000R931 000
BallitoR2 183 000R3 611 000R2 376 000
Berea WestR1 731 000R1 660 000
Durban NorthR3 649 000R4 449 000
HillcrestR2 242 000R2 721 000R1 627 000
La LuciaR10 160 000R3 665 000R4 128 000R3 466 000
La MercyR1 798 000R1 824 000
Mount EdgecombeR6 496 000R3 327 000R2 422 000R2 305 000
Salt RockR3 695 000R2 454 000
Simbithi (Shaka’s Rock)R5 982 000R3 476 000R765 000
Tongaat BeachR977 000R1 526 000R2 433 000
Umdloti BeachR5 261 000R2 374 000
Umhlanga RocksR5 828 000R3 769 000
WestvilleR2 171 000R1 873 000
ZimbaliR9 824 000R4 949 000R1 978 000
 Zinkwazi BeachR4 175 000R3 424 000R1 524 000

*Source: Lightstone Suburb Report for May 2020 to April 2021. These prices are based on property registrations and not the prices properties are being marketed as for sale.

 

KwaZulu-Natal: evolving from holiday to lifestyle hot spot

The KZN North Coast has seen a high percentage of buyers interested in new off-plan developments originating from Johannesburg and there has been a spike in enquiries from Gauteng residents wanting to relocate to the North Coast, specifically to the greater Ballito area, now that they work remotely.

Walsh reports that there has been a shift in interest from buyers looking for holiday homes and that, earlier this year, the holiday home and investment markets were quite depressed but now there appears to be a resurgence.

Historically low interest rates are also contributing to the major drive in purchases in this area and provides investors and buyers with another reason to take the opportunity to invest or relocate.

With the property market in the Ballito area being valued at more than R3 billion and rapid infrastructural development coupled with a desirable lifestyle creating sustained growth, buyers are taking advantage of low-interest rates and work from home conditions to experience the benefits of living at the coast.

“The KwaZulu-Natal area of the North Coast has always been a popular holiday destination and it is fast becoming the lifestyle hot spot in South Africa,” says Walsh.

Take a look at some the individual listings listed in these North Coast suburbs – here.

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