Latest news with #LightstoneProperty
The South African
08-08-2025
- Business
- The South African
THIS percentage of South Africans will never own a home
The latest data from Lightstone Property paints a sad picture for those hoping to own a home in South Africa one day. Systemic issues such as a stagnant economy, poor salaries and escalating property prices are why many will never own a home. As such, the organisation says 80% of South Africans are priced out of the formal property market. In fact, only one formal home exists per 3.3 families. And these pertain to residents who earn R26 000 per month. Anyone earning less per month will likely never be able to own a home. According to BankservAfrica, the average take-home in South Africa in June 2025 was just R17 310. Government has done little to address the housing crisis for low- to middle-income residents in South Africa. Image: File Therefore, the vast majority of South Africans are priced out of the market altogether, and the trend is only worsening, reports Daily Investor . Worse still, even though the problem is well known in the South African property industry, no real solutions to tackle low-income housing are forthcoming. More worrying is the fact that even with average salaries showing impressive annual improvements, the majority of South Africans are no closer to own a home. Since 2000, 19-million more people inhabit South Africa. However, only 1.9-million homes have been built. Therefore, the root cause to our low-cost housing crisis needs to be addressed by government. Rent vs. Buy? For most in South Africa it will not be a choice. Image: File It's no secret that property prices typically outpace those of wages. This has been the case for more than 70 years, not only in South Africa but globally, too. Nevertheless, mismanagement of state-owned entities and poor economic policy are restricting the economy's growth potential. As such, experts say government urgently needs structural reform that embraces deregulation, labour market reforms and more privatisation. If 80% of South Africans cannot afford to own home, something is terribly wrong economically. Builders and developers are unwilling to meet the demand for low-cost housing because the private sector is driven by profit and not charity. It's not an innovation issue but rather a systemic one that only government can truly rectify. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
04-08-2025
- Business
- IOL News
Women lead the charge in homeownership and vehicle ownership in South Africa
In South Africa, women are increasingly asserting their financial independence and making significant strides in both homeownership and vehicle ownership Image: Freepik As South Africa celebrates Women's Month this August, fresh data reveals a compelling narrative of transformation in ownership dynamics. Women in South Africa are not only asserting their financial independence but are also increasingly becoming prominent figures in the realms of home and vehicle ownership. This shift underscores a newfound dominance in property investments that, until recently, were predominantly male domains, according to Lightstone Property's Hayley Ivins-Downes. 'We're seeing a clear and steady shift in ownership patterns as more South African women take on property purchases, reflecting both growing financial independence and confidence in property as a long-term investment. It's an encouraging sign of transformation in the real estate sector.' Property ownership over time 2014-2025 Image: Supplied Historically male-centric property ownership is showing a paradigm shift, as the latest figures indicate that women are now outpacing men in the housing market. The proportion of homes owned by women as sole buyers has risen sharply from 30% in 2014 to an impressive 39% by 2025. In contrast, the share of mixed couple ownership has declined from 39% to 30%. Notably, 'single female buyers' are defined as women who are the sole registered owners of the property irrespective of their marital or relationship status. This burgeoning ownership trend has far-reaching implications; properties owned exclusively by women or jointly with men now account for a staggering 69% of all ownership, while men's ownership remains fixed at 31%. Lightstone's analysis reveals that out of approximately 200,000 residential property transactions conducted by natural persons in the last year, a remarkable 140,000 involved sole buyers, with 75,000 of those transactions attributed to sole women buyers. Additionally, around 60,000 transactions were joint purchases where women partnered with male buyers. Average purchase price Image: Supplied The upward trajectory of women-only buyers is notable, particularly between July 2024 and June 2025, driven largely by a surge in low-value property transfers. This shift is further illustrated in the affordable property price ranges, where sole women buyers significantly outnumber their male counterparts, especially in the categories below R250,000, R250,000–R500,000, R500,000–R750,000, and R750,000–R1 million. Government-assisted housing programs also feature prominently in this trend, with 26% of transfers to women as exclusive owners being subsidised, compared to 21% for sole men buyers and 17% for joint male/female buyers. When these subsidised properties are set aside, it becomes evident that women buyers show a marked preference for secure living environments: 12% favoured Estate Freehold, 4% opted for Estate Sectional Schemes, and a substantial 37% chose Sectional Scheme properties. Just over 47% of single women buyers entered the Freehold market. Percentage of single women buyers by age Image: Supplied
TimesLIVE
01-07-2025
- Business
- TimesLIVE
How your education level affects where you live
There are nearly 12-million households earning less than R13,000 a month with just less than 2.5-million properties available if households stick to the guideline that they spend no more than a third of their income on housing. This is equal to one property for 4.8 households in this income band, showing how low-income households in South Africa face an acute shortage of formal housing stock, said Hayley Ivins-Downes, managing executive of real estate at analytics company Lightstone Property. The ratio improved to 3.3 households for every one formal property if the salary threshold moved to R26,000 a month. For higher income groups, this ratio was closer to 1.2 to 1. Most of South Africa's households earn less than R26,000 per month, which means affordability remains a major obstacle to most households having a property to call their own, Ivins-Downes said. This pushed many into backyard rentals, informal structures or traditional dwellings that weren't formally registered — and often these options were further away from work than is ideal. 'In many towns, lower income working people struggle most to find accommodation.' For homes valued at less than R300,000 — 80% of which were subsidised — only 1% had been bought or sold in the past five years compared with 4% in the R300,000 to R500,000 price band, 6% in the R500,000 to R750,000 price band and 13% in the R750,000 to R2m price band. 'The data told us that not only was there a significant shortage of affordable housing, but there were proportionately fewer transactions among lower income earners, limiting mobility, equity growth and broader economic participation,' Ivins-Downes said. The more education people have, the more likely they will be able to buy houses in higher price bands, the data also shows. 'A household with two working people who did not have matric would probably be able to afford a house valued at R250,000 — but this jumped to R380,000 where the two have a matric and to R1.8m when they have degrees,' she said. Mapping these affordability scenarios to suburbs showed how the difference in education — and consequently earning potential — affected housing choice. In Johannesburg, couples without matric found affordable stock in areas such as Hillbrow, Johannesburg Central and Orange Farm, while couples with degrees would be buying in suburbs such as Morningside, North Riding and Weltevreden Park. She said the insights underscored the need for integrated housing, education and economic policies to address the barriers facing lower income households.
The South African
10-06-2025
- Business
- The South African
The small SA town where property prices grow by R1m each year
Demand for property in South Africa's Western Cape has increased tenfold, with property prices in some areas surging by the million each year. As reported by BusinessTech , these areas, especially the smaller seaside towns, are attracting both local and foreign property buyers. One such popular area is the fishing village of Kalk Bay, which has seen property prices go up by R1 million every year since 2020. Kalk Bay, a small, quirky fishing village on the False Bay coast of Cape Town, is known for its bohemian vibe, colourful harbour, and mix of old-school charm and modern edge. BusinessTech reported that from 2020 to 2025, house prices in areas along False Bay increased from 20% to as much as 150%. According to Lightstone Property and Seeff Property data, Kalk Bay full-title house prices increased from R4.9 million in 2020 to R9 million at the start of 2025 – a staggering 83% increase. On average, sectional title property (apartments, town houses) prices also increased by 150% over the same period, from R2 million to R5 million. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
09-06-2025
- Business
- The South African
The small seaside village in SA where foreigners love to live
A stunning seaside village in the Western Cape saw the highest proportion of foreign property buyers in South Africa last year. According to BusinessTech and the latest property data from Lightstone Property, Scarborough in Cape Town had over half of its homes sold to foreigners last year. The data also revealed that the Western Cape was the preferred destination for foreign property buyers in South Africa, with the province having the top 22 suburbs with the highest proportion of foreign purchasers. Scarborough is a small, picturesque seaside village which sits on the southern tip of the Cape Peninsula. The suburb forms part of the City of Cape Town metropolitan area but maintains a distinctly rural and tranquil atmosphere. The suburb is also declared a conservation village, which means strict regulations are in place to protect the natural environment. The average property price in Scarborough has greatly increased over the past decade, data has also shown, with the average price sold from R2.30 million in 2016 to R7.85 million as of 2025 – a whopping 241% increase. Foreign property buyers are also flocking to Chapmans Peak, Bakoven, De Waterkant, and Cape Town Centre, BusinessTech has reported. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
