According to BetterBond’s data for January to May 2024, 55% of all buyers in traditional townships such as Protea Glen in Soweto, Soshanguve, north of Pretoria and Mitchell’s Plain in Cape Town were women. Just over half were between the ages of 30 and 39, says Bradd Bendall, Head of Sales of BetterBond. “Many women buyers in townships are young professionals or single mothers investing in a family home. In line with this profile, these women also spend more on their township properties.
Younger buyers in their early twenties are also flexing their buying potential, accounting for a significant portion of the sales over R1m. “It could be that these buyers have financial support. Some of the main banks offer a range of loan products that include loans of as much as 110% for young professionals under the age of 30. This makes it possible to buy a home without having a deposit. Or they could be earning enough to spend on a home that they can perhaps rent as a buy-to-let investment.