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
|Suburb||Estate Freehold||Estate Scheme||Freehold||Sectional Title|
|Amanzimtoti||–||R1 700 000||R931 000|
|Ballito||R2 183 000||–||R3 611 000||R2 376 000|
|Berea West||R1 731 000||R1 660 000|
|Durban North||R3 649 000||R4 449 000|
|Hillcrest||R2 242 000||–||R2 721 000||R1 627 000|
|La Lucia||R10 160 000||R3 665 000||R4 128 000||R3 466 000|
|La Mercy||–||–||R1 798 000||R1 824 000|
|Mount Edgecombe||R6 496 000||R3 327 000||R2 422 000||R2 305 000|
|Salt Rock||–||–||R3 695 000||R2 454 000|
|Simbithi (Shaka’s Rock)||R5 982 000||R3 476 000||–||R765 000|
|Tongaat Beach||R977 000||R1 526 000||R2 433 000||–|
|Umdloti Beach||–||–||R5 261 000||R2 374 000|
|Umhlanga Rocks||–||–||R5 828 000||R3 769 000|
|Westville||–||–||R2 171 000||R1 873 000|
|Zimbali||R9 824 000||R4 949 000||–||R1 978 000|
|Zinkwazi Beach||R4 175 000||–||R3 424 000||R1 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.