The recent floods and devastation have affected sales, but estate agents are confident the area will rise again
The sale of posh residences along the KwaZulu-Natal North Coast belt has been set back by the recent floods.Janine Cuthbert was about to put her beachfront flat in Umdloti on the market when the floods hit KwaZulu-Natal in April.Cuthbert’s home is one of hundreds of sought-after residences along the KwaZulu-Natal North Coast belt whose sale has been jeopardised by the recent floods, forcing homeowners to delist their damaged properties or reduce the price.
“We had a meeting with the body corporate and plans are under way to retain and peg the land behind our complex,” Cuthbert said. “We are being approached by homeowners who wish to sell their homes and there has also been an increase in rental inquiries, which we anticipate will increase over the coming months as the damages to affected properties are assessed by insurance companies and repair work commences.”
I doubt there will be many sales in Umdloti for a while – but once repairs have been done I do believe Umdloti will rise again. I think it will take a lot more than some flooding to take the North Coast down.Sabrina Errico, Lew Geffen Sotheby’s International Realty broker principal in Ballito and Umhlanga, has seen a decrease in demand for property since the floods.
Carol Reynolds, Pam Golding Properties area principal for Durban Coastal, said most sellers in Umdloti “are affluent and can afford to hold onto their properties, rather than selling them at a time when the area doesn’t present well.
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