Local property experts discuss the property market in Durban’s Hillcrest suburb.
What on average should buyers expect to pay for a home in Hillcrest?
The statistics clearly show what we, as estate agents, know – Hillcrest property appeals to buyers of all ages. According to Lightstone, 34% of recent buyers were aged between 36 and 49 years. However, there has been a surge in interest from buyers aged between 18 and 35, and 22% of those who have recently invested in this area fall into this sector. The average price paid for a freehold home is currently R2,450m. A total of 43 units have been sold over the past 12 months, for an average price of R1,2m. It’s important to note, however, that 14 of these sold for more than R2m.
What draws buyers to Hillcrest?
Investor confidence is high in Hillcrest, and this is evident in the upgrades to various commercial entities, such as the Watercrest Mall and the Hillcrest Private Hospital, and the building activity which is ongoing at places such as the Cotswold Downs estate. People are drawn here because there is a perception that the area offers good value for money as the homes and gardens tend to be more spacious than those in other suburbs. The area caters for young families looking to grow and put down roots as well as offering several upmarket estates, complexes and retirement villages for those looking for a lock-up-and-go lifestyle.
What amenities are available in Hillcrest?
With its broad array of homes, including a number of secure upmarket residential estates, Hillcrest is a highly sought-after area, made more attractive thanks to the easy access to highways in and around Durban. There are a wide variety of top shopping centres, several excellent schools and medical facilities as well as a host of country pubs, coffee shops and restaurants. The Shongweni Farmer’s & Craft Market is a perennial favourite and there are a host of leisure activities on your doorstep. These include horse riding, hiking, golf (Cotswold Downs is a favourite course to play on), nature reserves and the renowned Valley of a Thousand Hills.
This article originally appeared in Neighbourhood, Sunday Times.
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