Steady Growth On The South Coast
Category Area Review
Choosing to live or play on the Kwazulu-Natal South Coast – the Hibiscus Coast - is a lifestyle choice, where beaches, fishing, golf, nature and a decelerated heart rate come before the bright lights
No matter where, all places either carry childhood memories or have lingering reputations or associations. But as time passes, there are so many factors which change the dynamics of an area, that the picture in your head is often significantly different from the reality. Take the South Coast, and its wonderful freeway, as opposed to that little rambly, albeit pretty, coastal road and bumper to bumper traffic. Now, you can get from A to B, namely Durban to Southbroom, easily and speedily, and that little coast road which hugs the sea, doesn’t fulfil the same purpose at all.
There’s another deal-breaker. Where the ‘little seaside towns’ of the north coast are now smallish cities, the small town ambiance of the south coast is still there. That doesn’t mean the region has stagnated, it hasn’t. Vast shopping malls with all the bells and whistles associated with major retail brands have grown up at Shelley Beach, Scottburgh and Margate, easily accessible to all who live or play on the south coast. Of course, the flipside is that, in those towns, a number of those age-old little retail shops have taken strain, many of them closing, but that’s progress for you.
Traditionally, the South Coast was a preferred destination for retirees, many of them from upcountry. The retiree label is still there, but the market has broadened considerably to include those from further afield in Kwazulu-Natal, in particular those who’ve spent their lives living or holidaying near or on the coast. This ‘new’ market has given impetus to the retirement property market, and there are a number of excellent, affordable retirement villages which have sprung up along the coast. These complexes usually have waiting lists of many years, so it’s not uncommon for people reaching pensionable age to buy a property on the Hibiscus coast with the intention of selling again in a few years. Property on the south coast is considerably more affordable than its shiny cousin up north, and with its string of attributes, this stretch of coastline appeals to a number of niche markets.
Golfers. The south coast has more golf courses than any other section of the country, many of them top 18-hole courses designed by leaders in the field, some in the country’s top 100 courses. Whether it’s the Wild Coast Sun, Selborne or San Lameer, the South Coast is golfers’ heaven, as many overseas holidaymakers have discovered.
Accessibility to the south coast, too, has been notched up with the resumption of the air service between Margate and Gauteng. As Wakefields Real Estate CEO Myles Wakefield says, “This has opened up the market once again in prime areas such as Southbroom, and sales in that sector of the market have increased. The affluent upcountry investor has easy access to their holiday home. Add to that, the news that Virginia Airport is relocating to Scottburgh, accessibility to the south coast is becoming increasingly streamlined. The airport would also result in the growth of a vibrant business hub in that town”
Commenting on the South Coast real estate market, Wakefield says, “Property sales here were previously dominated by upcountry visitors buying holiday homes, but now the pendulum’s swung to buyers looking for permanent residential property. They may not occupy it immediately, but envisage doing so in the not too distant future. The economy hasn’t really been favouring the acquisition of beach homes or second properties, but those properties are now being bought as permanent residences. The growth of the region, coupled with an expanding middle class, has created a steady demand for accommodation in both the sales and rental market.”
Property purchases by investors who buy-to-rent is still a feature of the market. Wakefield says, “Investment buyers can still show a tidy profit by investing in the right property for holiday rental purposes, but there’s been a swing of late to rentals of a more permanent nature with a more constant and reliable income.”
Like everywhere in the country, the south coast property market has woken up after the slow down. Property prices are on the rise, and stock shortages are apparent in the R1m to R1,6m price range. Wakefield says, “Correctly priced homes and sectional title properties are selling well, but as everywhere, the emphasis remains on ‘correctly priced’.”
South Coast living or holidaying is for those who enjoy a more relaxed environment than the metros and its suburbs. With the increases in retail and other employment opportunities, it’s perfectly possible to live and work in any number of the little towns. Here, it’s all about sensational, safe, clean and in many cases, internationally Blue Flag rated beaches. It’s about fishing, ski boating, golfing, birding, cycling, canoeing and hiking in the numerous eco trails and reserves. It’s life in the slow lane - more affordable, less pressurised, and designed for lovers of nature and the outdoors.
Author: Anne Schauffer
