In 2022, Rainmaker Marketing celebrates its tenth year in business having established itself as the top award-winning agency in South Africa that specialise in the property sector.
Steering the ship of the award-winning Rainmaker Marketing agency is Director Stefan Botha, who, upon reflection of their decade in business, shares his views on the trajectory of the KwaZulu-Natal North Coast residential landscape. interestingly, the Ballito and Salt Rock populations have doubled in the last 10 years, and the total value of home transfers within these areas has increased by 32% per annum since 2019. Furthermore, the SA house price inflation as of March 2022 reflected greater growth on the coast by 6,4% compared to 5,3% of non-coastal areas Residential properties, mainly in the Natal area, also enjoyed the capital appreciation of 4,5% growth versus Gauteng’s 4,4%.
While the past decade has been mostly positive for property growth on the North Coast, KwaZulu-Natal has in recent times experienced several severe events that have had a marked impact on the province. Apart from the worldwide pandemic that affected all businesses and livelihoods across the globe from 2019 until more recently, KwaZulu-Natal has had additional challenges to endure. These include the riots in July 2021 that caused severe destruction, as well as in even more recent times – the unprecedented April and May floods that caused devastation to homes, families and infrastructure across the province but particularly in the coastal areas. And if that wasn’t enough, 2022 also saw the unexpected increase of the repo rate by 75 basis points to 5.5% (prime rate to 9%) instead of the anticipated 50 basis points. One would think that with so much stacked against this property market, we would undoubtedly be seeing stagnation in this sector with stats that would support this.
Fortunately, the residential market on the North Coast has remained active despite all the challenges. Post-pandemic, there has been a definitive shift in several areas demonstrating how people have massively prioritised lifestyle and safety when buying homes. This year we saw the launch and one-day sell-out of Bliss Ballito’s phase one development in the new North Point Ballito precinct. Established developers like the Collins Group, North Global Group and DEVMCO are releasing product offerings within gated estates that include Zululami, Seaton, Lalela, Sheffield Hills, Elaleni, Capri and Gold Coast Estate.
There has also been an increased demand for secure addresses on the North Coast based on the facilities and lifestyles that developers have created. Home prices within estates in Salt Rock versus those outside estates are being exceeded by a staggering 91%. The climbing property figures and stats are the most telling sign of a positive trajectory and continued growth in the North Coast property sector. They indicate people and businesses still have faith in the burgeoning potential of this region and its rich lifestyle offerings.
Supplied by Rainmaker Marketing