Durban North has been a growth node for a while, but our stats show that it has catapulted itself to the top of the list of most searched suburbs.
Durban North has been a growth node for some time now. According to Private Property statistics, the median asking price in KZN grew by 2,3% since last quarter, and 7% YoY as at September 2019. When it comes to a provincial breakdown, Durban North catapulted itself to the top of the list of the top five searched suburbs nationally on remax.co.za during Q3 2019. The rest of the list was dominated by suburbs within Gauteng: Moreletepark placed second, followed closely by Morningside, then Bryanston and lastly Randpark Ridge.
Durban North has been an area to watch in terms of expansion and price appreciation. It is therefore not surprising that it was the highest searched suburb on our website according to the RE/MAX National Housing Report Q3 2019
says Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett.
Rather than being a once-off occurrence, Grant Gavin, Broker/owner of RE/MAX Panache, predicts that this rise in popularity should continue as the Umhlanga and Cornubia zones keep growing. “The Umhlanga, Cornubia, Sibaya, and Ushaka Airport areas are growing with new stock, new developments and new office parks that are attracting new companies into the area. Durban North is also a central suburb with great access to Durban city centre and the North coast,” he explains.
“What’s more, with school catchment areas being an important factor for families (as schools give preference to nearby residents), Durban North has always been a prime location for buyers with children owing to its abundance of amazing schools nearby, from pre-primary through to high school.”
Gavin goes on to suggest that the July-September period is the right time to start looking for properties if you are planning to buy and relocate ahead of the new school year. This is also true for people relocating for work. This could explain why Durban North was able to top the list of online searches over this period.
In terms of the current market conditions, Durban North is in line with the rest of the national housing market which seems to be favouring buyers. However, Gavin suggests that this has more to do with economic conditions rather than suburb specific factors. “We are still recording great sales volumes in this area. In fact, our office is on track to record our best sales year since we first opened,” says Gavin.
For those who are looking to purchase within the area, buyers can expect to find predominantly freehold properties with three to four bedrooms on well-sized, level land. There are a few sectional title developments ranging in price. The average for Durban North stands at around R3,3 million. In the more central suburbs, buyers will struggle to find homes priced below R3 million and could even find luxury homes priced above R15 million.
