Property Newsletter | August 2023
Celebrating women ownership in South Africa
From more women owning homes than men, to how women are opting for new over used vehicles
More women own homes in South Africa than men – and women are catching men when it comes to financing new motor vehicles.
More than 1.6 million women have benefited from government housing subsidies since the mid-nineties when the scheme was first implemented.
Women lead the ownership race … and catching up to men in buying financed new vehicles
Women own 3.9m (57%) of South Africa’s nearly 7 million formally registered residential properties, either on their own or jointly with a man or another women, as at July 2023 – and these properties account for 53% of the total value of properties.
At the same time, women accounted for 45% of financed new vehicle sales in 2022, up from 41% in 2019, compared to 33% of financed used vehicle sales in 2022, up marginally on 32% in 2019.
Celebrating Women Homeowners, courtesy of government subsidies
More than 1.6 million women have benefited from government housing subsidies since the mid-nineties when the scheme was first implemented.
Of the 1.65 million women recipients, 1 055 000 were single ownership recipients while 600 000 women owned homes jointly with others. In fact, single women make up 45% of subsidy recipients, while men make up just 29% and 26% are owned jointly.
Lightstone’s July House Price Index
Lightstone’s analysis of national year-on-year house price inflation is now at 4.05%, having increased slightly again since last month. Annual property inflation remained steady in Mpumalanga and the Northern Cape, increased in Limpopo, North West and the Western Cape, and decreased in the Eastern Cape, Free State, Gauteng and KwaZulu-Natal.
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