{"id":857238,"date":"2026-04-18T10:00:00","date_gmt":"2026-04-18T08:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=857238"},"modified":"2026-04-17T15:29:24","modified_gmt":"2026-04-17T13:29:24","slug":"south-africans-without-salaries-are-buying-more-homes-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/857238\/south-africans-without-salaries-are-buying-more-homes-in-south-africa\/","title":{"rendered":"South Africans without salaries are buying more homes in South Africa"},"content":{"rendered":"\n

South Africa’s first-time homebuyer market is undergoing a massive shift, with rising participation from self\u2011employed individuals. <\/p>\n\n\n\n

Standard Bank’s data showed that the first-time homebuyer market is getting younger, more female, increasingly moving into sectional titles, and seeing rising participation from self\u2011employed individuals. <\/p>\n\n\n\n

In 2025, the average first-time homebuyer with Standard Bank was 38, which is 3 years younger than in 2020. <\/p>\n\n\n\n

While first-time homebuyers are getting younger, home prices are not getting cheaper. The average purchase price for bank-financed first-home transactions exceeded R1 million in 2025. <\/p>\n\n\n\n

Affluent suburbs such as Rosebank (Johannesburg) and Tyger Manor (Cape Town) saw average first-time purchase prices rise to R1,369,817 and R1,685,339, respectively. <\/p>\n\n\n\n

More affordable areas, such as Khayelitsha, reflected an average of R821,633. This reflects an overall increase of roughly 5.5% in the past two years.<\/p>\n\n\n\n

One growing group reshaping the market is the self-employed first-time buyer. The group was historically underrepresented among home buyers due to income variability. <\/p>\n\n\n\n

This lack of stable income led to barriers to traditional lending. However, new loan registrations in the segment grew by 33% in 2025. <\/p>\n\n\n\n

Toni Anderson, Head of Home Services at Standard Bank, said the increase indicates the industry\u2019s commitment to developing products for non-salaried applicants. <\/p>\n\n\n\n

\u201cThe shifting dynamics among first-time buyers reflect the evolving aspirations and realities of South African consumers,\u201d said Anderson. <\/p>\n\n\n\n

Gauteng’s lead is getting bigger <\/h2>\n\n\n
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Provincial differences are also starting to grow among Standard Bank\u2019s first-time homebuyer transactions. <\/p>\n\n\n\n

While Gauteng has always seen the most first-time homebuyer transactions, data shows that it is expanding its lead over the Western Cape and KwaZulu-Natal. <\/p>\n\n\n\n

Gauteng accounted for around 47% of these purchases in 2025, a 5-percentage-point increase from 2024. <\/p>\n\n\n\n

On the other hand, the Western Cape contributed 19%, down four percentage points. It remains the second-largest market for first-time property buyers. <\/p>\n\n\n\n

KwaZulu-Natal also saw a 2% decline, reflecting softening activity in 2025, with the data highlighting Gauteng\u2019s growing economic pull for new entrants to the property market.<\/p>\n\n\n\n

Another change seen in the property market is the resurgence of sectional title properties, even if more homeowners still choose standalone properties.<\/p>\n\n\n\n

Although 33.7% of first-time loans granted by Standard Bank were for sectional title properties in 2025, it is still a larger share than the 31.91% in 2020. <\/p>\n\n\n\n

65% of first-time loans were for standalone homes in 2025, with the remaining difference directed toward vacant land. <\/p>\n\n\n\n

\u201cSectional title properties attract first-time buyers because of their relative affordability and added security,” said Anderson. <\/p>\n\n\n\n

“They are also often closer to economic hubs, with lower maintenance costs and a lock-and-go lifestyle that suits their life stage. <\/p>\n\n\n\n

As buyers enter the market at increasingly younger ages, these sectional titles also offer a more accessible entry point. <\/p>\n\n\n\n

Another trend seen is the rise of single female buyers in the affordable housing sub-segment of first-time homeowners. <\/p>\n\n\n\n

From 2024 to 2025, first-time female buyers recorded a threefold increase, a trend visible both nationally and within major provinces such as Gauteng and the Western Cape.<\/p>\n\n\n\n

\u201cThis sharp increase reflects rising financial independence and improved access to credit for women,” noted Anderson. <\/p>\n\n\n\n

“Seeing so many women enter the property market solo signals a shift in household dynamics and decision\u2011making power.” <\/p>\n\n\n

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Source: Standard Bank<\/figcaption><\/figure><\/div>\n\n\n
\n","protected":false},"excerpt":{"rendered":"

Standard Bank has seen a rise in self\u2011employed individuals becoming first-time property buyers. <\/p>\n","protected":false},"author":95,"featured_media":856347,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[499],"class_list":["post-857238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/857238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=857238"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/857238\/revisions"}],"predecessor-version":[{"id":857244,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/857238\/revisions\/857244"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/856347"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=857238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=857238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=857238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}