Not to be confused with Athlone Park near Amanzimtoti to the south, the upmarket suburb of Athlone is situated near the banks of the Umgeni River to the north of Durban. The area is perfectly placed and has long been regarded as the ideal spot for both those working in Durban itself or those who are employed in nearby Umhlanga.
As with many areas, the suburb has felt some of the effects of the credit crunch and price averages have declined by approximately 20 percent since 2008, when the average price paid for a freehold property was R2.273-million and the sectional title average was R1.827-million. Sales volumes in the area also declined between 2007 and 2009, however, statistics released by Lightstone indicate that sales numbers are once again on the rise.
This has had a positive effect on overall Rand turnover in the area and the statistics indicate that R109-million worth of property was sold last year. This is on par with the figures attained at the height of the property boom in 2006.
There have been 60 transfers over the last 12 months. The average price paid for a freehold property in the area was R1.971-million and the sectional title average came in at R1.4-milion. There’s a healthy mix of property available in the area, with 32.37 percent of homes falling into the sectional title category, while freehold property forms 67.63 percent of market stock.
In terms of stable ownership, 48.52 percent of existing owners have resided in the area for longer than 11 years. Buyers under the age of 35 years made up 34.55 percent of recent buyers to the area and a staggering 50.91 percent of recent buyers were aged between 36 and 49 years of age.
Educational needs are well catered for and in addition to a number of excellent government schools in nearby suburbs, there are also a number of private schools fairly close to Athlone including Our Lady Fatima Dominican Convent School as well as Crawford Preparatory School in nearby La Lucia.