Over the past two decades, the KwaZulu-Natal North Coast has experienced massive development growth which has continued unabated, Pam Golding Properties (PGP) said on Wednesday.
David Cameron, the estate agency’s area principal in Ballito said the establishment of King Shaka International Airport provided a major economic boom, with significant growth spurts experienced over the years in areas such as Ballito, and with development extending further northwards, right from Westbrook to Zinkwazi.
“Ballito is today a flourishing hub in this region, comprising residential, commercial, industrial and retail developments, including several shopping centres here and in the surrounds, as well as good schools and with easy access to key highways. Over the past 10 years or so a number of large estates have come to market such as Zululami, Seaton, Elaleni and Lalela, as well as the 380 000 square metre North Point commercial and industrial node, ideally positioned between the N2 and R10 and just 15 minutes from the airport,” said Cameron.
The North Point commercial node performs well in this space locally, with the developers showcasing the project to large international brands as it is in close proximity to multiple routes in and out, has excellent municipal services and 100 000 active consumers within a 10km radius, as well as access to skilled and unskilled labour from neighbouring communities, according to Cameron.
According to real estate research group, Lightstone, with a total of 8 812 homes in the town, Ballito’s housing market is unlike most in major metro markets outside KwaZulu-Natal in that 44.6% of all homes are located in estates, and 60.3% of all homes are sectional title. In estates such as Simbithi and Zimbali housing sales are healthy.
“In Zimbali in the past six months, we have concluded three sales in the R12m plus mark, and are seeing a number of out-of-towners seeking and buying upmarket properties. In new developments, we experience 70/30 local versus upcountry buyers,” said Cameron.
Across the market in total, including residential, commercial and industrial property in 2022, there were 1 162 property transfers to a total value of R3.7bn.
In Ballito, 35% of home owners have owned their properties for 11 or more years, while 40% have owned for less than five years, which suggests an influx of home owners into new developments – including sectional title.
The town is home to a mix of residents including retirees, with 42% of recent buyers being middle-aged and a notable 21% comprising young adults, many of who are first-time buyers, especially those with young families.
There is a range of schools in the area which includes Curro, Reddam, Ashton and Umhlali, while Alberlito Hospital caters for medical requirements. Approximately 70% of the buyers are local with the balance from upcountry, primarily from Johannesburg, followed by Bloemfontein, and also from Richards Bay further up the KZN North Coast.
Cameron says residential property in the Ballito and surrounds ranges from two and three-bedroom sectional title property sized at 150 square metres available to purchase for around R3m to freehold properties priced mainly between R3m and R8m. Vacant land of between 800 and 2500 square metres in size sits in the price range of R1.5m to R8m.
alistair@propertyflash.co.za