While overall home sales volumes in SA have plateaued in recent years, home sales to single women have continued to rise, from around 17% pre-pandemic to more than 22% of the total currently.
“In real terms, this means that single women bought around 46 000 homes last year,” says Denese Zaslansky, CEO of the Firzt Realty group. “And at the current average house price of R1,4m, that would amount to more than R64b of expenditure.”
Further analysis shows that when it comes to first-time buyers, single women actually account for around 50% of the total – and also that single and divorced women now outpace single and divorced men as buyers in every region of SA except Mpumalanga, despite the fact that they continue to earn less than their male counterparts and have more difficulty qualifying for home loans.
“In short, they are an increasingly significant and powerful contingent of home buyers, and the market should take careful note of what they need and want, with security and safety being paramount – especially if they have children and elderly parents or grandparents in their care.”
Some of the top priorities for single women buyers who are viewing homes for sale, she says, are:
- Home security systems such as a good alarm, motion-sensor lights and beams outdoors, CCTV cameras and smart home technologies such as remote-controlled lighting and video doorbells.
- Sturdy doors and windows with quality locks, deadbolts and burglar guards, as well as automated gates and garage doors.
- Fenced or walled outdoor spaces where children and pets can play safely.
- Easy accessibility for any seniors living with them, such as wide doorways, grab bars in bathrooms and level layouts with no stairs.
- Emergency equipment like fire extinguishers and smoke detectors.
- An electricity back-up system to ensure that they can stay safe and comfortable in the event of loadshedding. Such systems are especially vital for single women who work from home or have children studying at home.
Next, says Zaslansky, single women are likely to research the surrounding area before signing any offer to purchase, to try to determine whether it offers a supportive and diverse community that includes a solid and friendly mix of families, young professionals and seniors.
“They will naturally also seek out areas with low crime rates, active residents’ associations and active neighbourhood watch or community security organisations. Good schools and safe parks or playgrounds will also be important to single mothers.”
Single women buyers are also more likely to consider proximity to emergency services, medical facilities and public transport, she says, and will consider living within safe walking distance of shops, restaurants and a gym or sports centre is a big plus and it reduces the need to commute.
“And finally, homes that have been well-maintained and are in move-in condition will be especially attractive to single women who often have only one income to rely on, because there will be no immediate need for them to plan and pay for any repairs or improvements.
“Indeed, this is probably why there is an increasing preference among single women for newly-built homes in estates and sectional title complexes, which offer the added benefit of having VAT built into the purchase price so that buyers don’t have to worry about transfer duty. It will be interesting to see how this trend shapes market demand and the delivery of new housing stock over the next few years.”
Issued by: Firzt Realty
