First-time Buyers

As many South Africans consider buying their first property, the journey to home ownership presents a myriad of complexities that require strategic planning and a thorough understanding of the financial landscape. The recent cut in interest rates has reignited hope for first-time buyers, offering a glimmer of optimism in a fluctuating economy, but navigating the intricacies of home finance can still be...

The average age of first-time home buyers in South Africa now sits at 37 years of age when only a few years ago it was 33, says Bradd Bendall, BetterBond’s national head of sales,  noting that affordability remains a key challenge. The rapid later age of first-time home buyers shows that potential buyers are now waiting longer to buy a home as they work on consolidating their finances before committing...

Improved salaries (both nominal and real) should spell good news. But, for embattled South Africans too many factors hamper their ability to afford to buy a property or to rent one, says Elize Kruger, an independent economist. She said there are many headwinds that could hamper the positive prospects of a salary increase, particularly the elevated cost of living, still high interest rates and additional...

In a clear sign of recovery within the South African housing market, the annual national residential property price inflation reached 3.3% in September 2024, up from 3.0% in August 2024, according to the latest figures released by Stats SA. The monthly increase of 0.4% also indicates a gradual upward trend in residential property values, with various factors converging to create a more dynamic...

With the recent cut of the interest rate, many people would be thinking of buying their own home instead of renting - and now might be just the right time to do so, according to the Seeff Property Group.The recent lowering of the interest rate have brought down the cost of home loans therefore making homeownership a little more accessible for first-time home buyers.Samuel Seeff, chairman, Seeff Group said...

South Africa’s property market is witnessing a shift as Generation Z steps onto the scene. Born between 1997 and 2012, these young buyers are already making their mark, bringing fresh priorities and perspectives to the industry. “Generation Z is redefining what it means to own a home,” Antonie Goosen, principal and founder of Meridian Realty said. “They are highly informed,...

Purchasing property in South Africa is a significant milestone and one of the largest financial commitments that many South Africans will make. For first-time buyers, the process can be daunting, especially when navigating an unfamiliar market with fluctuating interest rates and economic uncertainties. Taking a proactive and informed approach is crucial to securing a sound investment and avoiding common...

Buying your first home should be the start of many happy years spent enjoying your investment, however, many first-time homebuyers find themselves facing unexpected challenges.This is according to Arnold Maritz, Co-Principal for Lew Geffen Sotheby’s International Realty in Cape Town’s Southern Suburbs“First-time home buying comes with many learning experiences, and while some mistakes are inevitable,...

The Department of Human Settlements has issued a warning after a new housing scam emerged, with housing seekers being billed R100,000 for subsidized government houses. The new scam has recently emerged on social media platforms. According to the department, scammers falsely claim to be department employees and offer assistance with government-subsidised housing applications for the Breaking New...

First-time buyers looking for affordable housing options are drawn to South Africa’s traditional township property markets where most of the transactions taking place are around the R750 000 price point, says Bradd Bendall, CEO (interim) of BetterBond. “Less than 14% of BetterBond's registered bonds in township areas between January and May this year were above R1 million, and only one was more...