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High demand for rental homes in KZN’s Upper Highway area

28 Jun 2019

Durban’s Upper Highway suburbs of Hillcrest, Kloof and Waterfall are all experiencing rental stock shortages - especially with regard to property in security complexes with monthly rentals priced between R8 000 to R12 000 per month.

This freestanding townhouse in Hillcrest Central, Upper Highway, has three bedrooms and bathrooms, undercover entertainment verandah, private garden with water features, lapa, built-in braai and more. It is selling for R1.995 million - click here to view.

Gregg and Michele Wilson, Seeff’s Licensees in the area, say these stock shortages can be ascribed to various factors.

They say tenants are attracted to the area primarily because of the value for money and the availability of a large range of excellent schooling. In addition, retail industries like Toyota, Jaguar and Woolworths are flocking to the area, creating many employment opportunities. The new Busamed Hillcrest private hospital also brought many new professionals to the area.

This five bedroom, two-and-a-half bathroom character home in Hillcrest Central, Upper Highway, has expansive living and reception areas and a separate cottage. It is available to rent for R30 000 a month - click here to view.

“At the moment, we have many hotspot developments near completion to service these multifaceted markets, and investors and young professionals are snapping rental units priced between R7 500 to R15 000 per month up in no time at all,” say the agents.

“We have also recently witnessed a trend of families renting out cottages or flats on their premises to supplement their income and the retirement sector retaining their homes as rental investments long after they have moved out of their homes.”

This three bedroom, two bathroom townhouse in Waterfall, Upper Highway, has covered patio, separate flatlet and more. It is on the market for R1.75 million - click here to view.

Wilson says that while they are not experiencing an overstock, luxury rentals priced between R20 000 to R40 000 per month in upmarket estates like Cotswold Downs, Kirtlington, Langford in the Hillcrest and Hillcrest Park areas is slower than the rest of the market, and people who live here are happy to pay a 10% to 20% premium for security compared to traditional suburbs.

This pet-friendly home in Waterfall, Upper Highway, has three bedrooms, two bathrooms and two parking spaces. It is available to rent for R10 500 a month - click here to view.

“Our greatest rental demand is definitely for townhouses in security complexes priced between R8 000 to R15 000 per month, but this shortage will hopefully be alleviated by the anticipated stock that is to be released in the market soon.”

Wilson continues that while the tenant age demographic in the Upper Highway area used to be people aged between 40 and 70, they are now recording an increased amount of people aged between 22 and 39 entering the area.

This three bedroom, two bathroom townhouse in Kloof, Upper Highway, has an open-plan dining room and kitchen, private garden, enclosed courtyard, automated garage and staff quarters. It is selling for R1.17 million - click here to view.

“Upper Highway used to be a large farming village that hasn’t lost its outdoor appeal, but has an added vibey feel to the village with a cool climate and many outdoor activities to satisfy an entire family’s recreational needs. Another major drawcard is that the area is home to some of the best private schooling in the province including Kearsney, Highbury and St Mary’s amongst others.”

This farm-style townhouse in Gillits, Kloof, has a wraparound verandah, private garden and pool. It is available to rent at R18 000 per month - click here to view.

Wilson says the small and medium developer is back in Upper Highway with a vengeance - demonstrating increased confidence in the area by unlocking its investment potential.

“The Seeff Hillcrest, Kloof and Waterfall office will be marketing a 20-unit freehold development of urban farm-style townhouses close to the Curro schools towards the end of this year, for example.”

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