A study released by FNB showed that between 2016 and 2018 the number of home buyers increased from 48% to 56%. Within that period, the percentage of female buyers surged from 22% to 27% while the male buying population remained steady between 27% to 29%.
According to Lee Mhlongo, chief executive of FNB Home Finance, the average age of increasing female buyers is 35 and attributes the growth to financial stability, considering that financial institutions look at affordability, a clean credit record and sometimes require a deposit.
“Property ownership remains the vital foundation on which socio-economic transformation take place,” said Mhlongo. “The empowering impact of owning your own property should never be underestimated.”
Myles Wakefield, chief executive of Wakefields Real Estate, said globally more female professionals were opting for an independent lifestyle which included being a homeowner.