Property sales rocket in buzzing Newcastle

Business is humming in the little city of Newcastle in the north-western corner of KwaZulu-Natal – and so is its property market.

This Newcastle home in Upper Hutten Heights is on sale through Sotheby’s International Realty. It has four bedrooms, three reception rooms and a study, as well as a chef’s kitchen, indoor heated pool, gym, sauna, staff quarters and double garage. Top-notch security, a borehole and irrigation are also part of the picture.
In fact, says Lee-Anne Labuschagne, manager of the local Sotheby’s International Realty franchise, there is now quite a severe shortage of residential property for sale, and demand is such that any property which does come on to the market is sold very quickly.
“In the past month, for example, we have sold 12 homes in the R850 000 to R1,2m, 10 of them to families who had been waiting to buy and only two for investment purposes.”
The main driver of the Newcastle property market, she says, is the industrial activity centred on the huge Arcelor Mittal and Karbochem plants in the area, which employ thousands of people. There are also scores of textile factories in the city and hundreds of smaller manufacturing, service and retail businesses.
In addition, Newcastle is the commercial hub for the surrounding coal mines and farms, and the educational hub for the Amajuba district, with eight high schools and tertiary institutions including the Amajuba College and a Unisa campus.
“As is to be expected,” Lee-Anne says, the demand for homes is highest among families looking to settle and send their children to school here, as well as up and coming business people ready to buy their first home. There is also quite a lot of demand from people who want to upsize from a smaller to a bigger home.”

This Newcastle home in Upper Pioneer Park is on sale through Sotheby’s International Realty for R1,15m. It has a tiled roof, three bedrooms, two bathrooms, three reception rooms and a study, as well as a fitted kitchen, laundry, pool and lapa.
Most residential areas in Newcastle were of course originally developed to provide accommodation for employees of the old Iscor plant which evolved into Arcelor Mittal but, she notes, owners who have made the effort to improve and upgrade the old Iscor-style housing will find themselves in a favourable position now if they decide to sell.
“Sotheby’s International Realty Newcastle currently has several middle-market properties available at prices between R500 000 and R2,8m. Also very popular at the moment is the Vulintaba Country Estate, which is being developed approximately 20km outside of Newcastle and offers more than 800 stands at prices from R650 000. The big draw cards for buyers are the fact that it is located in the Drakensberg range and within a game reserve.”
Upmarket homes in areas such as Aviary Hill and Hutten Heights generally range in price from around R1,5m to R4,5m, says Lee-Anne, and there are also a number of upmarket townhouse complexes in Newcastle, with units selling in the R2m to R3m range.
“Many of these are available with the option to buy fully-furnished, which is a trend that appears to be finding favour now with higher income buyers.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us