KZN’s Queensburgh sees ongoing demand for properties under R1m as families look to upsize

The inland town of Queensburgh in KwaZulu-Natal is experiencing huge demand for houses in central Malvern and Escombe for under R1 million, but unfortunately, these are scares, and when they do list, they sell within days if not hours of listing, according to area experts.

This newly-built four-bedroom, two-and-a-half bathroom house in Malvern, Queensburgh, has a study and jacuzzi. It is selling for R2.988 million - click here to view.

This is according to Michelle Vermeulen, licensee for Seeff Queensburgh who says, “We have seen a lot of first-time buyers as well as young families upsizing in the last 3 months. This is due to the current low interest rates which have made purchasing a home more affordable for most. We also seeing a lot of rental clients, now opting to purchase a property instead of renting. This has had an impact on the rental market. Unfortunately, Covid Lockdown did affect credit profiles and this is noticeable in the rental applications being processed.”

(Source: Property24 Trends Data)

Houses priced between R1 million and R1.5 million are very popular as they tend to offer three-beds, two-bath, garage and possibly even a granny flat. 

In Bellair, two-bed flats/simplexes between R550 000 to R650 000 and homes for R850 000 or under are also in high demand. This suburb provides easy access to schools, shops as well as CBD. New developments offering properties between R1.15 million and R1.6 million are also in high demand, but there is a shortage of these in Queensburgh.

This simplex in Northdene, Queensburgh, offers three bedrooms, two bathrooms and an enormous covered area. It is selling for R1.595 million - click here to view.

“Buyers will always want the most for their money and sometimes have very unrealistic expectations. But our professional agents work with the buyers to assist and guide them, taking into account their personal requirements, needs and wants. The same applies with tenants. Sellers are generally in line with the market and allowing us to list and market at realistic prices,” explains Vermeulen.

“This does not mean sellers are desperate, it allows them to list and sell their properties within a reasonable period and obtain the best possible price for their property. Although Covid has put a ‘damper’ on things, both buyers and sellers have been very compliant and accommodating with the various accessibility restrictions in place.”

SEE | 5 tips to help you price your property and sell fast

Young professionals snapping up homes in Malvern

Historically known as a railway town, Malvern in Queensburgh, Durban, has gone from strength to strength and has become a popular and sought-after suburb especially among young professionals.

This three-bedroom, two-bathroom home in Malvern, Queensburgh, has a large pool and spacious living areas. It is on the market for R1.28 million - click here to view.

"Malvern is following the trend of suburbs like Melville in Johannesburg and Observatory in the Cape Town, where older properties are renovated and extended to more modern homes," says Vermeulen.

According to Property24 trends data, prices in Malvern range from R590 000 for a one-bedroom flat, from around R790 000 for a two-bedroom townhouse and R1.18 million for a three-bedroom house.

"Depending on the plot size of the property, new developments are also sometimes built on existing stands. These homes are becoming increasingly sought after by, especially, young professionals."

Malvern is also centrally located, close to schools and offers the community two shopping centres. It is only 15-minutes away from the Pavillion Shopping Centre and provides easy access to the N2 and N3 freeways to places of employment in Durban.

*Property24 Listings Data Disclaimer: The trends detailed in this article are based on Property24 listings, current at the time of publishing, and property transfer data supplied by Deeds offices, which typically take 3-4 months to reflect. Suburbs are listed according to property24's geographical database. In some areas, this will include both commercial and residential properties. The age demographic data of buyers, sellers and stable owners are determined over a six-month period.  These Property Values should not be used as a substitute for independent professional advice and is subject to Property24.com Terms and Conditions.