According to FNB’s latest property barometer, a quarter of South Africans are looking to move from their current homes based on their current life stage.
And a quarter of these homeowners said that they were down-scaling due to life stage, 15% said that the move was necessitated by a change to their family structure, and 13% said that they were looking at upgrading to a bigger/better place.
However these homeowners looking to sell may be in for a bit of a shock – especially if they are part of a larger family.
According to a separate FNB report released in February, the average price for a full title home is currently around R1.2 million.
Unsurprisingly this increases or decreases significantly based on the number of bedrooms in the home with a one or two bed costing an average of R667,811, compared to an average of R1.22 million for a three bedroom home, and R1.86 million for a home with four bedrooms or more.
All properties sourced from Property24.