Women driving change in ownership
As we celebrate Women’s month, the South African property market reveals the growing influence of women as buyers and owners, with women owning a significant share of properties. In the auto space women are showing a strong preference for Crossovers/SUVs. In this edition, we also look at whether the retirement property market is showing growth potential? And put the spotlight on Affordable housing in the Western Cape – with over half a million units valued at under R750 000, this segment is creating opportunities for investors and residents alike.
Women dominate SA property ownership
Women in South Africa outnumber men as property owners, holding 38% of properties solely. Female buyers have surpassed male buyers since 2016, though they purchase lower-value properties. In the vehicle market, women are spending 74% more on cars since 2014, with a preference for Crossover/SUVs, which now make up 77% of their new car purchases.
Read MoreSA’s retirement property market has upside potential
South Africa's retirement property market, catering to a small over-60 population, is experiencing increased demand for high-end properties. The Western Cape leads in sales and properties, offering investors a unique opportunity to meet this age group’s evolving needs.
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Taking stock of the Western Cape
The Western Cape offers a wide range of affordable housing options, with over half a million units valued at under R750 000. This is a sizeable portion of the total housing stock, with a large portion being subsidised. The bulk of the stock is concentrated in Cape Town itself, Khayelitsha, Mitchells Plain, Blue Downs, Gugulethu, George and Strand.
Read MoreThe latest House Price Index
National House Price Inflation is at 3,66%, slightly up from the previous month. Provincial property inflation remains steady in the Eastern Cape and Western Cape, but has increased in Gauteng, North West, KwaZulu-Natal, and decreased in the Free State, Limpopo, Northern Cape, and Mpumalanga.
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