Good News in 2015
The property market in the KZN Midlands enjoyed a nice upturn in 2014 and with good forecasted economic growth it should hopefully continue into 2015.
There continues to be good demand for medium to large cattle farms, with good grazing farms trading hands at R14 000 per hectare.
Dairy units are also surprisingly in demand, primarily from farmers already in the business. With growth forecast in the dairy processing operations, these entities are now starting to secure long term supply lines by purchasing their own production units. Registered water licences and arable land are paramount and are in short supply.
Smallholdings are still selling but at prices from 4 years ago. There has been more demand for secure estates where owners can do a bit of farming but the prices are high for these properties – one sold at Mt Verde for R135 000 per hectare (unimproved) Properties close to Howick, Hilton and Nottingham Road are still particularly sought after.
An exciting new development is in the process of being established – The Aloe Aero Estate between Durban and Pietermaritzburg. Owners will have direct access to the runway and will be able to hangar their aircraft on site. Sites of 1 hectare in the Game Reserve should sell between R1.3 – R1.4m – limited to 50 stands on the Aviation footprint. This is one to look out for.
Residential properties are also experiencing good demand as several key developments like the Hilton Hospital, Barlow World relocation and others start to happen. Good News for property owners.
Remember Buyers when buying – Location, location, location !