Recent data from Lightstone reveals that South Africans aged 36-49 are currently the largest group of homebuyers, accounting for 40% of purchases in 2024, up from 37% in 2018. The average buyer age in the country stands at 39, indicating a market dominated by mature buyers. Additionally, buyers aged 50-64 have increased their market share to 24%, driven by paid-off mortgages and accumulated investment wealth, while younger buyers (18-35) face more economic hurdles and limited resources.

First-time buyer demand has strengthened, with Ooba Home Loans reporting that bond demand from this segment rose to 51% in September 2024, marking a third consecutive increase. Pam Golding Property’s CEO, Andrew Golding, attributes this to an improved inflation outlook and banks’ increasing support, with expectations that further interest rate reductions over the next 12-15 months will continue to drive homebuying interest.

Securing a home loan, however, is influenced by age. Adrian Goslett, CEO of RE/MAX of Southern Africa, explains that banks often use retirement age as a guideline, typically offering shorter loan terms to those near retirement. For instance, buyers around age 55 may qualify only for ten-year terms to ensure full repayment by 75, raising monthly repayments. However, older buyers aren’t excluded; banks may offer customised terms, requiring higher deposits or proof of financial stability.

Ultimately, younger buyers benefit from extended loan periods, but those in stable financial positions can enter the market at any age, making early property investment advantageous.