09 Nov 2012
This is according to the Rawson Properties Amanzimtoti franchise, owned and operated by Wendy Walker, who says there is a growing realisation that the 20km separating Amanzimtoti from Durban can be travelled in less than half an hour and that living there is convenient.
Walker says homes throughout the precinct she serves offer real value for money.
She says buyers tend to be local people upgrading or downscaling from other KZN areas. Upcountry buyers, previously so much in evidence in the second home and holiday home market, are still buying but are less evident. However, transfers continue to contribute to sales as many people moving to Durban find Amanzimtoti accessible and well-priced.
A three bedroom home that can be bought in Amanzimtoti for R1.2 million would cost considerably more in Ballito or Umhlanga, Walker says. “What is more, many people prefer the friendly village and holiday atmosphere of the South Coast to that of the fast-paced North Coast ambience.”
Prices in her territory are below those of the 2006 and early 2007 peak and she believes now is the right time to be buying because the banks have become more accommodating with their credit criteria and are more willing to offer competitive rates.
“Most approved bonds are at prime plus 1 percent or 2 percent, but considering how low the interest rate is, all bonds are more affordable now than they have been for 30 years - and I can report that we have had one or two clients who have been given bonds at 0.5% below prime," Walker says, adding that it is a breakthrough considering the difficulties experienced in recent times by prospective purchasers.
The bond originator is crucial to the success of a bond application, but she says Rawson Properties can advise potential buyers on these matters. Her franchise is now achieving acceptance rates of 70 to 80 percent on the bonds they submit.
Walker says properties of good value right now are three new developments being marketed by her team. 28 Longacres, has three units still available and Tuscan Ridge, also situated in Longacres, has been sold out. The developments have 16 and 14 units and offer a mix of ground floor and first floor flats that have two or three bedrooms each.
Both are in walled and gated security complexes and prices are pitched from R595 000 to R650 000, which, Walker says compares favourably with similar units developed in the area. The finishes include tiling on all floors, built-in cupboards in the bedrooms and dark wood and granite tops in the kitchens, which are fitted with hobs and ovens. Each complex also has its own communal pool and braai area.
A third development being marketed by Rawson Properties is Milkwood Gardens. Located in Lewis Drive, many of its units will have sea views. Again, it is a fully walled security estate and buyers are offered plot-and-plan options for three bedrooms, three bathroom freestanding townhouses, designed in a Tuscan style.
Eighteen duplex units, with an average floor area of 220 square metres will be built. The prices here are from R1.4 million to R2.2 million – offering exceptionally good value, Walker says. The windows will be aluminium framed and air-conditioning will be installed in all lounges and bedrooms. The kitchens will have granite tops and all units will have enclosed gardens and double garages.
When asked to pick out some ‘good value’ available in her territory, Walker mentioned a modern face brick simplex townhouse in an exclusive complex priced at R1.39 million. The house has three bedrooms, an open-plan kitchen, an extra-large living room and a double garage.
There is a duplex home, again in a security complex that has three bedrooms, two bathrooms, two garages and is close to amenities. The price is R1.15 million.
A freestanding, 260 square metre apartment, right on the beach at Winkelspruit is priced at R2.5 million. It has spacious, entertainment-orientated living areas which overlook the beach and ocean, as well as three bedrooms, all en suite.
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