According to Lightstone statistics, the age cohort of home buyers between 36 and 49 years has seen significant growth since 2018, making it the largest group of purchasers. Buyers aged 50-64 are also active in the market, contributing to a dynamic residential sales landscape.
Dominant Age Group
Buyers aged 36-49 have increased their market share from 37% in 2018 to 40% in 2024, reflecting strong purchasing power.
First-Time Buyer Demand
Mortgage applications from first-time buyers rose to 51% in September 2024, indicating renewed interest in homeownership despite economic challenges.
Investment Shift
Buyers aged 50-64 represent a growing market segment, increasing from 21% in 2018 to 24% in 2024, often seeking retirement properties and investments.
Source: www.rei.co.za
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