Women accounted for 45% of all female only property transfers in 2021, according to Lightstone data.
Since 2017, the percentage of women only buyers have largely remained above 45%, notes Hayley Ivins-Downes, Head of Digital for Lightstone.
“There was an upward trend in 2020, with the figure reaching 47%, with more female first-time property buyers,” says Ivins-Downes.
Ivins-Downes says that the percentage of first-time women buyers has trended upwards over the last four years, with 2020 figures similar to 2019 (even with the pandemic). From 46% of total female property buyers in 2017, female first-time buyers now account for 50% of total women buying property.
As of the third quarter of 2021, the total number of female buyers has exceeded 2,500, having reached 34,311 and 36,438 in the first and second quarters of 2021.
The oobarometer statistics show that first-time buyer activity reached 54% of all home loan applications received by ooba in the third quarter of 2020. In Q2 2021, this figure fell to 48%.
However, the average purchase price of first-time buyers increased by 10.9% to R1.104m during the second quarter of 2021.
Chrissie Johnson, customer relationship manager for Seeff North Coast, says that in addition to being the primary influencers in property purchasing decisions, many women are now building property portfolios.
“Women are increasingly looking to build wealth early and view a property purchase as an important aspect of securing their future. The work-from-home trend has further boosted the demand for homeownership among females, especially those who have taken the opportunity to start their own small businesses or who are in an entrepreneurial or professional role,” says Johnson.
Statistics from Seeff’s mortgage originator reveal that more young single women compared to young single men are buying property.
The data shows a nearly 400% jump from the 21 to 25 age group to the 26 to 30 age group, with sales to women peaking in the 31 to 35 age group.
Johnson says: “Young professional women are taking advantage of the low interest rate environment.”
Data from the National Association of Realtors in the USA show that women now control 80% of consumer purchases, they direct 91% of housing decisions, and guide 94% of home furnishing choices.
According to Lightstone, the year-to-date average value in 2021 for female only purchases is R1.151m.
In the last 12 months, 53% of women purchases were for homes priced between R500,000 and R1.5m, with 22% buying properties ranging between R1.5m and R3m.
Moreover, only 6% are buying properties priced above R3m, and 19% buy homes priced below R500,000.
“Since 2018, 54% of women buyers have been purchasing freehold homes. This figure dropped slightly to 53% in 2020. Sectional title is the second most popular type of property to buy, accounting for 29% from 31% in 2020. Estate buying currently accounts for 17%, from 16% in 2018,” points out Ivins-Downes.
Ivins-Downes says that 57% of purchasers are between 24 and 41 years of age, whereas 19% are in the 50 to 64 age group. However, across all age groups, women are buying property.
For the last 12 months, women property buyers dominate in Gauteng, followed by the Western Cape (23%) and KwaZulu-Natal (12%).
In all other provinces, female buying is in single digits, with the Northern Cape accounting for 1% of total women buyers.
Number of women buyers per province
|Province||% of total women buyers|
Of the 44% property purchases in Gauteng, most of these were priced between R500,000 and R3m in Pretoria.
Top 10 areas in Gauteng (2021)
|Area||R500,000 to R1.5m||Area||R1.5m to R3m|
Compared to Gauteng, more women bought properties valued over R3m in the Western Cape accounting for 2,179 of total female buyers. Gauteng recorded 1,586 buyers to date in 2021, points out Ivins-Downes.
Top areas in the Western Cape (2021)
|Area||R500,000 to R1.5m||Area||R1.5m to R3.5m|
|Cape Town||1,212||Cape Town||1,047|
|Mossel Bay||215||Mossel Bay||187|
Edited by Gudrun Kaiser