The North Coast is Flourishing.
Category News
With the holiday season rushing towards us, it seems unbelievable that 2024 is already drawing to a close. Festive season decorations are up, the days are getting longer and the holidaymakers have started making their way into our piece of coastal paradise and so it's a perfect time to look back the whirlwind year that was 2024, with a view to what 2025 may have in store for us here on the North Coast.
Despite what you might hear, the North Coast property market is flourishing
We rolled into 2024 carrying a lot of the negative economic and political sentiment of the prior three years and understandably so. Interest rates remained high and unchanged as the government tried to limit economic contagion from the COVID pandemic. The looming elections and the associated naysayers in the media made us feel that societal collapse was imminent. Globally the situation was not much better with tensions in Europe and the Middle East adding pressure to an already bubbling pressure cooker.
Listing the above, it seems unbelievable that we are now sitting at the end of the year having more than doubled our sales with a strong pipeline of work for the coming quarter. A few fortunate turns have contributed to this growth, namely a peaceful and stable elections process, interest rates have been brought down 25 basis points on consecutive MPC meetings and the existing demand for high quality estate living has kept the North Coast property market buoyant.
We have seen deal flow across all of the estates, from the established markets of Dunkirk, Brettenwood and Simbithi to the newer offerings of Elaleni, Seaton and Zululami. As mentioned in previous posts, the combination of world class facilities, unmatched natural beauty and top end security make the North Coast estates an excellent choice for residents from the province and to those looking for a lifestyle for their families while they commute to Gauteng.
The commercial, retail and industrial nodes that support the residential market are also showing strong growth with notable development work continuing at North Point, as well as additions to the Junction shopping center in Ballito.
The infrastructure in the area continues to improve to meet the growing demand, supported ably by the estate developers. We have seen the traffic lights at the new intersection to Sheffield, as well as the completion of the P228 road towards Seaton and Springvale. The proposed interchange has now been approved and construction is now expected to kick off in the new year.
What to Expect in the 2025 North Coast Property Market
- Increased Property Sales
With the anticipated lower interest rates boosting affordability, we anticipate a surge in property transactions, especially in the middle and upper-market segments. Coastal properties will remain in high demand due to their lifestyle appeal and long-term investment potential.- Booming Rental Market
The North Coast continues to attract professionals relocating for work, driving up demand for rental properties. Investors in the buy-to-let market can expect excellent rental yields in 2025.- Semigration to Coastal Areas
The trend of semigration-where families move from urban centers to lifestyle-rich regions-is set to continue. The North Coast offers the perfect balance of tranquility, community, and modern conveniences, making it a top destination for those seeking a fresh start.Why Invest in the North Coast Now
The combination of reduced inflation, lower interest rates, and continued infrastructure development makes 2025 a prime year for investing in North Coast property. Whether you're purchasing your dream home or expanding your investment portfolio, this is the perfect time to take advantage of favorable market conditions.
The North Coast of KwaZulu-Natal is more than just a beautiful place to live-it's a hub of opportunity, lifestyle, and growth. With the economic environment improving and the continued growth in development in the area, 2025 promises to be an exciting year for property buyers and investors.
Don't wait-contact us today to explore your options in this thriving market and secure your place in the North Coast property boom!
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Author: Murray Beattie