New research on buying patterns shows that women own, either on their own or in partnership with someone else, more than half the residential properties registered in SA.
And, registering the highest numbers ever, women have bought more than a third of all new and used motor vehicles sold in SA this year.
These changing ownership patterns, to be released by data and analytics provider Lightstone later this week, reflect the growing participation of women in SA’s economy.
Another new trend suggested by the data is that women-only buyers are edging towards buying more expensive properties, and the percentage of women buying new vehicles is also growing.
Women, according to Lightstone’s data, are changing the property landscape. At the end of last month women — individually or in partnership — accounted for 54% of the value of residential properties registered at the deeds office.
The number of women buying property for the first time dipped in 2020 due to Covid-19 and its economic fallout, but has recovered strongly in 2022.
The percentage of properties purchased by women only has increased from 16% in 2018 to 22% up to last month.
However, an interesting trend is that the value of the properties bought by women exceeds the volume. Lightstone’s analysts believe this suggests women on their own are buying properties that are slightly more expensive than the average.
Another interesting pattern picked up by the research is that while the age of women buyers has been generally consistent, there has been a shift towards the young age bands.
In 2018, buyers under the age of 35 made up a quarter of the total, increasing markedly to just more than a third in 2021.
Property expert Grant Smee, MD of Only Realty, said the research matches what he is seeing — an increase in single professional women who earn well and are looking to buy a home for themselves.
They are far more interested in taking their cash and investing it in bricks and mortar.
— Grant Smee, MD of Only Realty
“We’ve seen a bit of a lull over the past few years with Covid and lockdown. But I think it made people realise the value in owning their home, so we are seeing more women actively looking to buy. They are far more interested in taking their cash and investing it in bricks and mortar,” Smee said.
But it is not just the property market seeing an increase in women buyers — female ownership in the new and used vehicle market is also accelerating.
Researchers note more women owning cars demonstrates a shifting dynamic in the economy that is continuing to play out.
Signio, Lightstone’s online platform for the motor industry, shows women accounted for 36.5% of new and used vehicle sales this year. This is up from less than 34% in 2017.
In the new car sector, women are closing in on the 50% mark, with their share in the used-car market now up to a third.
The purchasing gap is slowly narrowing between the sexes with women purchasing vehicles for an average cash price of R306,340 in 2022 versus men at R323,402.
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