The Bluff in Durban has long been recognised as an area offering home buyers good value for money, and there is now such a serious shortage of homes for sale here that even wealthy buyers with cash-in-hand are hard pressed to find something to suit their needs.
This four bedroom, three bathroom townhouse is situated in a secure complex. It has a large patio and deck from which you can enjoy uninterrupted views of the Indian Ocean. It is in the market for R3.5 million - click here to view.This is according to Wondera Erasmus, franchisee for Harcourts Brighton Beach, who sasy the Bluff suburbs are known for their central and convenient location, as well as their older, generously proportioned homes on sizeable stands, spacious townhouses and apartments with splendid views.
“And demand has increased so much in recent times that it now outstrips supply by a long way,” she says.
There has been an influx of first-time buyers looking for one and two bedroom flats and townhouses in the affordable price ranges, comprising one bedroom flats priced at R500 000 to R650 000, and two bedroom townhouses priced between R650 000 and R950 000 in particular, says Erasmus.
“But we are currently experiencing a major stock shortage of all property types in the R800 000 to R2.5 million price range. And even buyers that can afford to pay more and buy in the higher price brackets are struggling to find suitable homes in the most sought-after suburbs.”
Rental demand is also very high, and there is a shortage of rental stock in all price brackets, she says.
An established area which forms the gateway to the South Coast of KwaZulu-Natal, the Bluff encompasses the suburbs of Brighton Beach, Grosvenor, Ocean View, Wentworth, Fynnlands and Marlborough Park, and Harcourts Brighton Beach also operates in Treasure Beach, Merebank, Merewent, Jacobs and Clairwood, says Erasmus.
This four bedroom, three bathroom home offers sea views and a pool. It is on the market for R2.5 million - click here to view.Homeowners in all these areas have seen their properties experience good growth in recent years, and can now sell them for a solid profit, she says.
“And we anticipate that Bluff prices will continue to appreciate as there is hardly any development land left. There are just a few properties which can be subdivided and sites where the existing buildings could be demolished to make way for clusters.”
However, many existing owners are reluctant to sell, she says. “The Bluff’s proximity to the University of Natal, UNISA, the Jacobs industrial area and the harbour, as well as a medical centre and all major shops, make it a convenient location for people from all walks of life.”
And now the long overdue upgrade of the beaches would seem to be imminent, with the proposals for enhancing each beach along the coastal belt at an advanced stage of planning, says Erasmus.
“Intended to provide recreational amenities to the community, the upgrades will further increase the value, and appeal, of properties close to these beaches.”
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