Over the past two decades, the KwaZulu-Natal North Coast has experienced massive development growth which has continued unabated. David Cameron, Pam Golding Properties area principal in Ballito and surrounds, says the establishment of King Shaka International Airport provided a major stimulus, with significant growth spurts experienced over the years in areas such as Ballito, and with development extending further northwards, right from Westbrook to Zinkwazi.
Says Cameron: “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 000sqm North Point commercial and industrial node, ideally positioned between the N2 and R10 and just 15 minutes from the airport.”
North Point commercial node is a market leader 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 Lightstone statistics, 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 activity remains positive. Says Cameron: “For example, in Zimbali in the past six months, we have concluded three sales in the R12 million+ 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.
“We believe this region has tremendous potential for residential property developers and investors going forward, not only due to the exceptional lifestyle appeal but also successful public-private partnerships which foster infrastructural improvements. With the Urban Improvement Precinct and active developers in the private sector, there is always ongoing improvement to infrastructure, such as water and electricity, while the UIP recently installed solar panels on traffic lights.
“Notably, activity in the residential sectional title sector has been brisk with a huge surge in sales in 2021, and still elevated sales numbers in 2022.
“Across the market in total – including residential, commercial and industrial - in 2022 there were 1 162 property transfers to a total value of R3.7 billion.
“Ballito is a sought-after destination for home buyers across the generations, with 35% of home owners having owned their properties for 11 or more years, while 40% have owned for less than five years (Lightstone stats), which suggests an influx of home owners into new developments – including sectional title. Covid and the lockdowns certainly played a role in fuelling the demand for estate living, particularly those with amenities, leisure activities and energy-saving features, apart from the security factor.
“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 whom we believe are first-time buyers, especially those with young families. A range of reputable schools are in the area such as Curro, Reddam, Ashton, Umhlali and Ashton, while Alberlito Hospital caters for medical requirements. Approximately 70% of our 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 of 150sqm available to purchase around the R3 million mark to freehold properties priced mainly between R3 million and R8 million and vacant land of 800-2500sqm in size in the price range from R1.5 million to R8 million