Close to 80 percent of home owners have lived in the Durban North area for over five years, a good reflection of the stability and desirability of this conveniently situated suburb as well as a strong indicator that the area even exceeds expectations, says Carol Reynolds, Pam Golding Properties area principal.

"With its leafy green environment, scenic sea views, level grounds and convenient location, this area is home to a healthy mix of residents of varying age groups. Many residents have lived here for more than 11 years and the reality is that those who move into the Durban North area generally don?t leave. It is interesting to note that the percentage of buyers aged 18-35 has doubled in the past 12 months while the percentage of pensioners buying in to the area has halved, reflecting that the buyer profile is shifting to that of younger families. Having said that, some 55 percent of home owners in Durban North still fall into the 50-64 year-old price bracket," says Reynolds.

She says Durban North is arguably one of KwaZulu-Natal?s most consistent property markets in terms of both seasonal fluctuations and supply and demand. With its proximity to the new airport, Durban?s beaches and central city and office parks in La Lucia and Umhlanga, upmarket Durban North is constantly in demand for the lifestyle it provides.

It is home to exceptional schools as well as its own self-sufficient business hub.

Residential properties are popular because the erven are of generous proportions ranging from around 1200m? in central Durban North to well over 3000m? in upper Durban North. The zoning is such that in many pockets sub-divisions of less than 1800m? are not allowed, ensuring that density remains low.

In addition, the houses themselves are gracious and spacious ? most with three to four bedrooms as well as extras such as garden cottages and staff quarters. Pools are commonplace and gardens usually level and child-friendly. Most homes cater for outdoor living with undercover patios ideal for outdoor entertaining in Durban?s warm climate. The result is that the area has high appeal for families given its convenient location, access to education and relatively affordable pricing.

Reynolds says the residential property market comprises of mainly freehold homes with a few sectional title complexes. During the past 12 months, 95 percent of sales were freehold properties with an average selling price which peaked in 2007 at R2.242-million then declined in 2008 during the recession to an average of R2.023-million. In 2009 prices recovered slightly to an average of R2.135-million, but have yet to recover to their former 2007 glory.

"The sectional title average pricing graph has shown very little fluctuation despite the volatile market of recent years. In 2007 the average sectional title price was R1.353-million, which ironically increased in 2008 to R1.495-million and then dropped in 2009 to R1.275-million, now recovering in 2010 to an average of R1.7-million. This reflects general market sentiment that small, secure properties are increasing in value due to security concerns in the country as a whole.

Furthermore, increasing rates and the costs associated with larger homes are becoming a deterrent to some prospective purchasers.

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