According to statistics sourced from Lightstone, the small suburb of Acaciavale in Ladysmith, KwaZulu-Natal has recorded 59 transfers in the last 12 months. The average price of property sold in 2011 came in at R236 000, all of which fell into the freehold sector of the market. This price average is up from the R167 000 achieved in 2010.
With such affordable property available in Acaciavale, it is not surprising that the stats reveal that of recent buyers to the area, 44.26 percent fell into the age group of between 18 and 35 years. The area boasts two primary schools as well as Windsor Secondary School which caters for the needs of high school pupils residing in the area.
Sectional title sales in this particular area have been hard hit by the recent property fallout, and there have been no sales in this sector of the market whatsoever in the past 18 months. In 2010, the average price for a unit was R338 000, a significant decrease from the R530 000 attained in 2008. This said, only one percent of market stock falls into the sectional title sector.
Neighbouring Aloe Park has seen a total of 19 transfers in the last 12 months and although this figure is low in comparison to other regions, the statistics reveal that owners in this quiet suburb stay for an extended period of time, with an overwhelming 86.36 percent of recent sellers having lived there for longer than 11 years.
Aloe Park attracts older buyers and the statistics reflect that 31.82 percent of recent purchasers are over the age of 65, while just over 36 percent are aged between 50 and 64 years.Residents’ retail needs are met by The Oval and The Plaza shopping centres which offer access to banks, fast food outlets, restaurants and large national retailers.
Virtually mid-way between Johannesburg and Durban and the gateway to the central and northern reaches of the Drakensberg, Ladysmith is strategically placed as an ideal stopover for those travelling to this picturesque part of the country.
The Battlefields route is also on the doorstep of this historic town which was named after the wife of Sir Harry Smith in 1850. Steeped in Anglo Boer War history and home to the world-famous Ladysmith Black Mambazo musicians, this friendly town serves as a major shopping hub for those living in the smaller surrounding towns of Colenso, Bergville and Winterton.