The year-round warm climate, enticing Indian Ocean and constant development continue to attract investors to KwaZulu-Natal, with gated estates within the upmarket North Coast receiving particular attention.
This four bedroom, four-and-a-half bathroom home is situated in Izinga Estate in Umhlanga. The home has a swimming pool and has solid wood features, stone-clad highlights and Bali-styled roof and exterior design. It is selling for R11.4 million - click here to view.“In the past year alone, our sales in KwaZulu-Natal have increased by a massive 24%, showing the area’s demand,” says Kerry Bailey, principal for Tyson Properties Umhlanga.
“Investors are constantly on the lookout for properties that have potential for growth, and the North Coast offers this in abundance.”
Bailey says the average price of freehold properties in Umhlanga increased by 27.1% in the last year to a value of R5.85 million, making it one of the biggest property growth areas nationwide.
Apartments within Umhlanga have also seen a massive value increase. The Executive, a development solely mandated and managed by Tyson Properties, initially sold stands from R2 million that are now selling for up to R5.2 million, while apartments within the development which went for R2.2 million can now fetch up to R3.8 million.
Bailey says the make-up of buyers in the area comprises a mixture of out-of-town businessmen and families investing in Umhlanga - and the North Coast in general - because of the location’s proximity to King Shaka International Airport, as well as numerous private schools and shopping centres.
This two bedroom, two bathroom duplex apartment is situated in the heart of Gateway. It is on the market for R2.1 million - click here to view.“A percentage of buyers commute to Johannesburg during the week, as this is often required, but there is also the portion of buyers who started off in smaller, ‘first-time’ homes in other areas, that have now moved to larger, more child-friendly homes,” she says.
“A large percentage of sectional title properties are owned by people that live out of the area and use the property as a holiday home.”
Bailey says investors are prioritising security when looking for property, which was prompting the further development of gated estates, particularly on the North Coast.
“Generally we have all become very security conscious, and will often compromise on views and proximity to schools for security. There is also added benefit of having sports facilities, community centres and clubhouses close by,” she says.
“We also find these buyers are particularly interested in estates featuring spacious, eco-friendly homes.”
This four bedroom en suite home in Izinga Estate in Umhlanga has a covered patio and swimming pool. The home has open-plan spaces, and is selling for R11.8 million - click here to view.This is once again reflected in property prices, with the average price of sectional title units within Kindlewood Estate in Mount Edgecombe increasing by 26.4% in the last 12 months. At the same time, families are also moving into freehold properties within Izinga Ridge, where the average price of a home in 2015 was R7.5 million.
Bailey says the pull to the Izinga area, where there were fewer ‘complex-type’ homes available, was partly the security offered, as well as the location.
“There are gated and non-gated areas that are both very popular because of the aesthetically attractive homes, proximity to Umhlanga, as well as the many sought-after schools in the area. The move of many businesses to the Umhlanga Ridge has also spiked interest in this area.”
She says the fact that non-gated areas are monitored by security cameras was also a big drawcard.
Bailey says they continue to have a dominant footprint in the Morningside and Upper Highway areas, with agents well-versed in the market requirements.
This four bedroom, four bathroom townhouse for sale in Umhlanga is situated in a complex with direct beach access. It is on the market for R8.9 million - click here to view.These regions, too, have seen a constant upward trend in property prices, with the average house price growth in Upper Highway standing at 6.8% per annum for the past decade, while Morningside has seen an impressive 20% increase in the average price of sectional title properties the last three years.
Bailey says Upper Highway’s consistent value for money, excellent schooling options and strong retiree market were attractive elements, while Morningside’s limited stock availability in the sectional title property market has driven prices upwards.
“These well-established areas still have a lot of appeal and, as growth continues northwards, property becomes more affordable in the older towns and suburbs inland,” says Bailey.
“Durban’s Morningside has seen a revitalisation in formerly declining parts, and this has brought about a resurgence of demand for property in the conveniently-located suburb.”
