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Single women are dominating SA's property sales, latest data shows

Jan 02 2020 18:55

Single women dominated property sales in 2017, 2018 and 2019, compared to single men and even married couples, according to data analytics firm Lightstone.

The average price of homes purchased by single women is around R800 000 and female Porsche owners have risen from 6 to 9% in the last year.

Lightstone research also shows that, while Cape Town has traditionally been highlighted as consistently showing house price growth above the national average, in October 2019 Limpopo took over in terms of inflationary growth.

Limpopo boasted a 5.9% annual growth with an increase in high-end properties. Most of these properties have become second homes to affluent Gauteng residents, according to Lightstone. Furthermore, the increase in mining activity in the province has also had a positive effect on property developments in the area.

In Johannesburg the suburbs of Sandhurst, Westcliff and Blair Atholl have the highest average value, and in Cape Town Llandudno, De Bosch and Constantia are emerging as the suburbs with the highest average value, according to Lightstone. Umhlanga in Kwazulu-Natal also features amongst the top ten suburbs with the highest average value.
According to Lightstone, following Good Governance Africa (GCA) highlighting Mossel Bay in the Western Cape as the best run municipality in South Africa, the value of properties in the area has enjoyed a steady increase.

In South Africa in general, Lightstone found that properties registered between 1991 and 2000 lead in terms of the number of property sales, with a steady price performance increase, year-on-year.

Compiled by Carin Smith

lightstone  |  property  |  money


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