Units under R1m in KZN's Waterfall

While the average price of a home in Waterfall has risen to over R1 million, those with less spending power will shortly have an opportunity to become property owners in the lush suburb.

That's because of the May 2007 launch of a new residential development called "Stonehurst", says local agent Murray Aberdein of Acutts Estate Agents.

Waterfall, which nestles deep in KwaZulu-Natal's Upper Highway area, was a haven for entry level buyers until a few years ago when prices started rising dramatically, says Aberdein. Today, properties on the market for anything less than R1 million there are an exception, making home ownership difficult for first time owners and those on inflexible budgets.

One such exception is the new Stonehurst development, which will comprise 29 freestanding, sectional title homes on completion, with prices ranging from an almost unheard of R825 000 to R995 000.

The development, the front wall of which is already under construction, spans a six hectare property that runs down to the Nqutu River. The lower section will be left in its natural indigenous state, with construction taking place on the upper level of the property. This will ensure that most homes will have incredible views, with some being able to see the sea on a clear day, he says.

Twenty-five of the units will offer three bedrooms and two bathrooms while the remainder will be two-bedroom homes. These permutations effectively cater for both young families with children and retirees, he says. All units come with a single carport and additional parking bay, although early-bird buyers have the choice of a number of optional extras such as garages and can also upgrade and personalise their finishes.

Ideally located within two kilometres of the Waterfall Shopping Centre and just five kilometres from the centre of Hillcrest, which abounds with top class medical facilities and excellent schools, Stonehurst promises to be a young family's paradise. "Not only is it affordable but it also offers a quality lifestyle within a secure environment," he says. "To one side of the estate is a large area that will be developed as a children's playground, complete with communal swimming pool and changing facilities as well as jungle gyms, swings and a cycle track that will encircle the fenced perimeter of the playground."

From a security perspective, the entire estate will be walled with electric fencing. Access and egress will be through one central point with 24-hour guarding, he says, adding that at night the area will be floodlit in the interests of maximum security.

Describing the architectural style as "Cape cottage", Aberdein paints a picture of high pitched roofs and walls in a range of muted earth colours. Unusually for homes in this price range, all windows and external doors will be aluminium in order to reduce maintenance. Unit sizes, excluding parking areas, range from 100m2 to 135m2, which includes covered entertainment verandas.

The architect has avoided the trap of placing the cottages in straight rows, Aberdein says further. Instead, determined to combine aesthetics with privacy, he has positioned the homes in accordance with the contours of the land and wherever possible, construction will take place around the many existing indigenous trees.

Pre-launch interest is already high, he says, although the official on-site launch of Stonehurst only takes place on 5 and 6 May 2007. Aberdein's reasoning is that people are aware of the potential growth of Waterfall property values, which is underpinned by what's happened at the nearby Three Falls residential development. "Units in Three Falls, which originally sold off-plan in May 2005 for between R750 000 and R800 000, are now enjoying extremely healthy re-sales of between R1,1 million and R1,2 million, which is an indication of what good value Stonehurst offers," he says. – Ingrid Smit

For more information contact (031) 765 5326 or 083 791 5533.

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