Local experts forecast upward trend for North Coast property prices

Despite economic pressures at national level, local property experts are confident that the North Coast’s buoyant development sector will continue to trend upwards.

This was revealed at a property panel discussion hosted by Pam Golding Ballito last Thursday and chaired by co-owner of the agency, David Cameron.

The resident experts were Brian Wright, who founded the Ballito UIP and manages eight similar nodes across the province, Collins Group owner Murray Collins and iLembe Chamber of Commerce CEO, Cobus Oelofse.

While not denying there were significant obstacles at national and local levels, including the electricity crisis and ongoing socio-economic disparities, the trio felt the North Coast was best placed to weather the storm.

“Off the grid living is not only happening because we want it, but rather it is happening organically. With the amount of investment in alternative energy, Eskom’s importance is only going to diminish,” said Collins.

He also pointed to ongoing private investment upgrades to public infrastructure, such as the Sheffield road interchange, as examples of mutually beneficial public-private partnerships with the municipality.

“I am tired of hearing about everyone wanting to move to Cape Town. I honestly do not believe there is a better place in the country to live than here,” he said.

Wright, whose Ballito UIP has quietly implemented a five-year plan to improve the aesthetic appeal of Ballito, echoed the sentiments.

“Historically the notion of property value has been dictated by location, but increasingly it is about how locations are managed. On the North Coast, you have the best possible combination of lifestyle, the ability to earn an income and a place to raise a family,” he said.

He cited the five-year increase in Ballito property value of 43% as proof that many people agreed, be it via ‘semigration’ north from Durban or from inland to the coast.

“This is in part owing to a conscious decision to make Ballito a destination, in creating a vision of what it could be. We had to compete for the spend that was otherwise going to Plett or Stellenbosch,” said Wright.

When asked whether Ballito could shift away from being a seasonal economy, Oelofse highlighted under-utilised attractions that could draw year-round tourism.

“Just inland of Tongaat we have the Sebhudu Cave, which is one of the most significant archaeological sites in the Southern Hemisphere. This aside from a King Shaka heritage route which has huge cultural heritage to the community,” he said.

He further highlighted the northern industrial hubs at Isithebe Industrial Estate and those surrounding the Hesto Harnesses site outside of KwaDukuza as proof that manufacturing could flourish locally.

Though not confirming any details, Collins indicated that international investment could return too, in the form of Club Med and Heineken.

He said only that talks had reopened after both were rumoured to want to invest in the area in 2019 before Covid-19 mothballed the projects.

Combined it paints a rosy picture for development, where widespread investment has helped to grow the income of the KwaDukuza Municipality (KDM) by more than 80% in the past five years.

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