Sheffield Beach Review (The Bugle)

Sheffield Beach has long been a favourite holiday destination for the local KZN farming community and Gauteng based purchasers. The way that Colwyn Drive meanders along the coastline towards Christmas Bay, revealing some of the most spectacular coastal scenery available, provides good enough reason to understand why so many people find this stretch of coastline so appealing. In many cases prospective purchasers restrict their search to Sheffield only. 

The last few years have however seen the success and popularity of the large gated estates within the area draw the bulk of the new investment and this has provided a significant buying opportunity to those people who appreciate the Mediterranean feel that Sheffield Beach is known for. The architecture of many of the existing homes has drawn on this inspiration reflecting white walls and terracotta roof tiles contrasting with the deep blue ocean backdrop. To get a sense of what the Sheffield Beach property market has been up to, I have analyzed every registered transfer for the period from 1 January 2011 to 8 December 2012. This data sample includes 275 transactions divided into 199 sectional title sales ranging in price from R489,000 to R3m and 76 freehold sales (including vacant land) ranging in price from R301,000 to R10m. The market of saleable properties within the suburb of Sheffield Beach numbers 939 properties, split between 428 sectional title units (45.58%), 397 freehold properties (42.28%) and 114 estate properties (12.14%). The estate properties are those located within gated estates such as the 10ha Sheffield Beach Estate, the 5,5ha Sheffield Cove development or the newer 5ha Sheffield Bay Estate. 

The sectional title transfers are dominated by the new Sheffield Manor development, now in its final phase of development and which is one of the most successful developments within its price category on the north coast. Of the 199 sales, 169 were of Sheffield Manor properties. With a price point below R1m these units offer great value as a starter home or investment property. The real beauty of Sheffield however belongs to those amazing properties situated on elevated sites offering expansive sea views. The highest prices in the last two years have been achieved in Colwyn Drive, with 79 Colwyn trading at R10m, 85 Colwyn at R9m and 47B Colwyn at R8,8m. A tier down from this we found 62 Colwyn trading at R6,5m and 65 Colwyn at R6,4m. Great deals for the buyers when you consider the position these properties offer. A current “best buy” Sheffield Beach opportunity in the sub-R5m price bracket has to be 17 Cuyler Road, which offers a 480 sqm home (which can be significantly expanded) on a large 1,558 sqm site with views that epitomize everything amazing about this beautiful destination. We see extraordinary value in Sheffield Beach at the moment and give it a big “buy now” recommendation.

(Author: Andreas Wassenaar, 12 December 2012, published in The Bugle)