select
|

RE/MAX Area Trend Report – Umhlanga

Area history

Located along the coast of KwaZulu-Natal to the north of Durban is the residential and commercial resort town of Umhlanga. Founded in 1895 by Sir Marshall Campbell, the first hotel was built in the area in 1920, followed by a shop and then a lighthouse. Development in Umhlanga has continued on a gradual but steady pace and today the town has transformed from a small coastal village into a bustling commercial hub.


This meticulous five-bedroom, five- bathroom residence is located in sought after Umhlanga. Close to Gateway shopping mall, the Umhlanga village and beaches it has with easy access to freeways. The home offers sea views and is designed around entertaining with an inside and outside pub, Jacuzzi and swimming pool. Set in a manicured landscaped garden, other features include a double garage, extra visitors parking and staff accommodation.

Much like the commercial decentralisation and migration from the Johannesburg city centre to Sandton, many businesses have relocated their offices from central Durban to Umhlanga. In 2010, the Durban International Airport was also relocated to La Mercy, which is close to Umhlanga, and was reopened as King Shaka International Airport.

Home to the KwaZulu-Natal Sharks Board, Umhlanga boasts a large variety of top class amenities such as the Umhlanga Hospital, schools, restaurants, entertainment facilities and the Gateway Theatre of Shopping - the largest shopping mall in the Southern Hemisphere.

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that the commercial development within Umhlanga has been phenomenal and has had a positive contribution towards the residential property market in the area.  He notes that according to Lightstone data, aside from a marginal dip during 2008 and 2009, property prices have performed extremely well over the last ten years. In terms of property sales, while there was a steady decline in the number of transactions from 2004 until 2010, sales turned in 2011 and have been on an upward trend ever since. Last year sales volumes were higher than those seen during 2007, which is widely regarded as the peak of the boom.

Goslett says that the area is popular among buyers from all age groups. Approximately 33.46% of recent buyers in Umhlanga were aged between 50 and 64 years old, 26.54% were between 36 and 49 years old and around 21.15% were aged from 18 to 35 years old.

Chris Pearson, Broker/Owner of RE/MAX Address, whose office services the Umhlanga and surrounding areas, says that a growing trend has developed in the region where more and more buyers are looking to purchase property in gated estates. He notes that while properties within gated estates in Umhlanga and the surrounding areas are hard to come by, they are extremely high in demand and sell almost immediately when they enter the market. “Buyers are often prepared to pay premium prices for property within security estates and as a result, they generally offer buyers a good return on investment over the long term,” says Pearson. “The security element, along with the lifestyle offering, often adds to the allure of estate homes.

Steady demand for secure estates in areas such as Umhlanga make these types of properties a good investment option for buyers along the KwaZulu-Natal north coast.”

Property price trends



Demand for property

According to Goslett, more than half of the properties sold in the area between April 2013 and March 2014 were priced between R1.5 million and R3 million, making this the most sought-after price bracket. Properties sold during this period that were priced above R3 million represented 34.1% of the market. Properties priced between R800 000 and R1.5 million accounted for 13.1% of sales, while homes between R400 000 and R800 000 represented 1.5%. Property priced below R400 000 accounted for the remaining 1.2% of sales.

Find more properties for sale in Umhlanga


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 05 Dec 2016
      One of the key questions a property buyer should be asking, on the purchase of their dream home, is how is the immediate area zoned? “All too often one of the major attractions of a property is its current views, which are reflected in the value being asked,” says Craig Robinson who specialises in freehold property in the Green Point and Sea Point areas for Jawitz Properties.
    • 05 Dec 2016
      While a written lease is not a legal requirement when renting residential property in South Africa, it is recommended that everything be committed to writing. This protects both the landlord and tenant should there be a dispute, says Gail Cawood, rentals manager for Knight Frank Residential SA.
    • 05 Dec 2016
      If you’ve been thinking about buying a holiday home – or even a permanent home at the coast – then now’s the time to do so, says Tony Clarke, Managing Director of the Rawson Property Group.
    • 03 Dec 2016
      The property valuation system in Cape Town was recently under question when investigations revealed the value of some properties were increased, which led to increased tariffs and taxes for homeowners.
    • 02 Dec 2016
      The large, farm style home is situated in the sought after Midstream Estate, Centurion is our Property Pick of the day with its stunning design and cosy family atmosphere.
    • 02 Dec 2016
      Much can, and has, been said about Pretoria East - all we can say is that we love this beautiful leafy city. From its traditional homesteads to its vibrant new developing nodes there is something for everyone and we take a look at five current listings from MyProperty that we love!
    • 02 Dec 2016
      We have for some time been saying that smaller is better when it comes to home buying, but that doesn’t mean the smaller home market isn’t slowing down.
    • 02 Dec 2016
      A new “retirement hotel” just launched in Plettenberg Bay will help to meet the enormous – and growing - demand for high-end retirement accommodation in this area, says local Chas Everitt International franchisee John Fuller, who has just been awarded a mandate to market the apartments in the development.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK