Breaking down North Coast property trends

About 100 adults are moving to the North Coast every month amid an ongoing property boom.

The adult populations of Ballito and Salt Rock have more than doubled in the past 12 years as the areas experienced unprecedented growth.

It is estimated there are now almost 25 000 adults in the two communities combined, up from just over 10 000 in 2011.

The inaugural property market report by Umdloti-based Rainmaker Marketing, compiled from property database Lightstone Data, covers a wide-ranging series of property topics, including semigration, market dynamics and the performance of estates.

Semigration is this year’s property buzzword and refers to people seeking greener pastures within their own country as opposed to overseas.

The majority of ‘semigrants’ to the North Coast are from KwaZulu-Natal (77%), followed by those from Gauteng at 12% and the Western Cape at 6%.

“The desirable infrastructure and amenities that are drawing people to the North Coast include schooling, healthcare and medical practices, multiple retail malls and centres, blue flag beaches and strong urban precinct management,” said Rainmaker Marketing director, Stefan Botha.

Access to the King Shaka International Airport, which handled 4.3-million passengers in the 2022/23 financial year, was important for those moving to the area.

Estates currently dominate the property sales figures. Over the past year, freehold sales in Ballito estates exceeded those outside by 144%, while Salt Rock’s estate sales were 190% higher than their non-estate counterparts.

Prices were greater too, at 48% and 49% higher in Ballito and Salt Rock respectively.

These sales figures were no doubt helped by the increase in spending ability for the average family.

Average household income increased by 89% in Ballito and 144% in Salt Rock since 2020, indicating that wealthier families have made the move in the past three years.

“We believe that we’ve seen the peak in interest rates and anticipate a gradual decline over the next year. The expected relief on interest rates in 2024 will bolster affordability and stimulate North Coast sales beyond 2023 numbers,” said Botha.

“Additionally, upcoming interchange upgrades, such as the Sheffield Beach project set to commence in 2024, signify a commitment to ongoing development.”
Estates are likely to be the properties of choice going forward too, given 44% of homes in Ballito and 57% in Salt Rock are within an estate.

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