Seaside village in its own class
THE KwaZulu-Natal north coast from Umhlanga to Ballito is one of the most desirable residential locations along the KwaZulu-Natal coastline.
This is evident in the tremendous growth over recent years; growth which can only accelerate given government’s plans for this northern corridor which include a proposed R5bn provincial government-led investment in the establishment of Dube City. This is on top of the advent of the King Shaka International Airport and the Dube Trade Port.
“The King Shaka International Airport now literally puts Gauteng on the north coast’s doorstep and it’s feasible for businessmen to work in Gauteng while their families live in a luxury secure estate such as Zimbali. The north coast has the opportunity to become to Gauteng what Connecticut is to New York.” said Keith Wakefield, chairman of Wakefields Real Estate, KwaZulu-Natal’s largest independent real estate company.
While Umhlanga residents have grown accustomed to the fact that their once seaside village is now more akin to Sandton, Ballito’s residents are saying that their seaside village has grown too quickly into a town that it is now larger than Umhlanga and taking on a metropolis status.
Along the M4 from La Mercy you will find the estates of Westbrook Beachclub, Zimbali, and Seaward Estates. Smaller estates include Port Zimbali, Ballito Manor, Sheffield Manor, Shortens, Ballito Gardens, while several other developments aimed at entry level buyers have been launched.
One of the first developments in a class of its own in Ballito is the Zimbali Coastal Resort. The estate has earned a reputation as the jewel of the north coast. It is a well- managed, financially sound ecoestate and there are indications that Zimbali’s exclusive lifestyle — which has now embraced the whole family, from first time buyers to retirees — has had a positive impact on estate’s property market. For years its permanent residents numbered less than 50%. However, with the advent of the new airport, and an easy commute to Johannesburg, it is estimated that the number of families living on the estate has risen by about 20%.
Security, signature golf courses, kilometers of beachfront and facilities including a hotel set it apart from others in the area. Those who invested when the estate was launched 15 years ago are reaping the rewards, while new developments within the estate provide an opportunity for buyers
Buyers are looking for a bargain that they can renovate to get into the north coast market
to take advantage of more longterm capital growth.
Within this estate Wakefields Real Estate has a sole mandate on a 510m² home set on 1 160m² of land in Camwood Drive. Designed by Chen Sagnelli, the home has been constructed with attention to detail and finishes seldom seen including a selection of exotic hardwoods that provide rich natural tones and blend perfectly with the other top drawer materials. The home has three bedrooms, all ensuite plus an additional bathroom, a wood paneled study or fourth bedroom, two large lounges, an open plan gourmet kitchen and four entertainment areas, a bar and three automated garages.
For investors, Ballito is a place to watch. Demand for affordable accommodation in the area exceeds supply and property priced under R1,5m sells quickly. There is a growing demand for rental accommodation and rentals vary from R3 000/month to as much as R35 000/month in an estate such as Zimbali.
Ballito’s Lifestyle Centre is being expanded by around 20 000m² while new commercial and industrial developments continue apace.
Wakefield says that the Wakefields Ballito office has reported an increase in sales volumes particularly in the R1m to R1,5m level, and while there is a high level demand and enquiries for property, there is a critical shortage of well priced stock.
At entry-level, two-bedroom apartments are priced from R900 000 while houses are priced from R1,6m rising to R2,5m in estates such as Port Zimbali and Seaward. Entry-level homes in Simbithi and Brettenwood are priced up to around R4m. At the mid-level, homes are priced between R5,5m and R7m while at the top-end properties sell from R7m upwards.
“Sellers are receiving offers lower than asking price and properties are selling between 10% and 15% below asking price,” says Wakefield. “However, a trend that is developing is that buyers are looking for a bargain that they can renovate in an attempt to get into the north coast market at a more affordable level. But these bargains are hard to find,” he says. Price: R9m Contact: Wakefields Real Estate Tony Kimble 082 883 4784 Riitta Messiter-Tooze 083 308 4492