Women rise up in property market
From property for sale in Alexandra to Eastern Cape, women are starting to become more competitive in the market. Data from Lightstone has indicated that women have surged to the head of the pack in terms of overall properties bought in South Africa in recent years.
Women have had to fight for every right and are making positive steps, and when it comes to property for sale in Alexandra or other parts of Gauteng, they are finally starting to change the norm.
Equality between women and men has been in the spotlight in recent times, and it now seems that change is finally being seen and felt in various areas of general life, including the property market.
Looking at some data from Lightstone, who provide insights into the property market and automotive industry, women have been steadily climbing the ranks since 2016 and are now at the top of the charts when it comes to the amount of properties purchased. Dissecting the info, Lightstone’s Lead Analyst, Cindy Bezuidenhout, believes that the latest data is indicative of the fact that women may be enjoying more economic power.
Going into the data at a provincial level, the area that showed the most significant change was Gauteng. Here, women were the clear winners in terms of properties purchased, while they were also leading the pack in the Eastern Cape, but not by such a large margin.
Looking at some of the other major provinces, such as the Western Cape and KwaZulu-Natal, the majority of purchasing power was still in the hands of married couples, although single women followed ahead of single men.
This was a positive note when considering that at one point in time, women were not even permitted to own property or other entities. However, there is still a concern when looking at the average sale price. Here, women were in the lowest bracket, despite the amount of properties purchased, and Bezuidenhout points out that inequality in terms of income could be the reason for this stat remaining the same.
