Nov
2019
Pennington is a seaside resort that was established around the late 1900’s for sugar cane farming by a family named Pennington.
It has remained mostly a seaside resort which has steadily attracted interest due to angling, pristine white beaches and surrounding nature reserve forests.
Pennington’s annual ‘Couta Classic” is hosted here and is the largest competition in the KZN Province over the April holiday season.
The property market in Pennington has drawn an equal amount of interest over the years and the fishing village now boasts a number of golf and lifestyle estates such as Waterberry Eco Estate, Penvalley Estate and Eden Rock Forest Estate.
These exclusive estates have attracted investors in the second homes and holiday buyers’ market along with permanent residents to the town which has had a major growth in value to the properties.
The mixed property use which comprises townhouses, apartments, freehold homes, clusters and estates satisfies a broad market and income groups.
The benefit of the town is of course seasonal tourism which means there is a huge rental market in apartments and townhouses with good seasonal income.
Property values are within the middle-class income group and this is reflected in the sectional title and freehold homes market with prices ranging from the mid R800’s for apartments and town houses and freehold homes starting at around the R1 mil mark.
Architecture of the homes range from conventional to modern which is a factor in the general property values and of course the architecture of the homes within the estates do add to the value of the property in a small way.
For permanent residents there are amenities like schools nearby.
Here is a list of some of the nearby schools, Pennington Primary School, St Anne’s Primary School and Umzinto Secondary School.
Malls close to Pennington are the Village Mall which has a number of convenience stores and popular retail outlets.
Take a tour of the homes in Pennington via the Myroof web-site.
