Lightstone explores how women are outpacing men in South Africa’s property market, owning a significant share of properties, and see how their preferences in cars have evolved over the past decade.
Women are active buyers and sellers in both South Africa’s property and motor vehicle markets.
Women outnumber men as property owners in South Africa. As the graph below shows, women-only buyers account for 2 154 000 (38%) of stock owned and co-own another 1 883 000 (33%) properties. Men-only owners account for 1 694 000 (29%) of all properties.
Ten years ago, mixed gender couples buying property outnumbered both male-only and female-only buyers, but this has changed progressively. In 2016, female-only buyers surpassed male-only buyers and the number of female property owners has steadily increased, while the number of male property owners has remained relatively unchanged (see graph below).
Female property owners have moved from third place (behind male only buyers and mixed gender couples) in 2014 to second place in 2016 when female buyers edged ahead of male buyers, and then in 2022 female buyers went ahead of couple buyers too.
However, while more women are buying property, the graphs below show that they are doing so at lower values (including social housing) than the other two categories. The gap between prices paid by women-only buyers and mixed gender couples has widened since 2020.
Women spend less on property
Ownership by price band
Property buyers are getting older, and this is as true of women-only buyers as it is of mixed gender couples.
Age of buyers increasing
From living to driving
While women may dominate the lower end of property market values, they are paying 74% more for their new and used vehicles, on average, than they did in 2014.
Lightstone's analysis of data (see graph below) shows the average price for a used vehicle financed by a woman buyer climbed from R172 600 in 2014 to R297 800 in 2024, while the average price of a new vehicle financed by a woman buyer leapt from R252 000 in 2014 to R440 000 in 2024 so far.
Average prices for vehicles financed by women buyers: 2014 to 2024
The ratio of average used price to average new price has remained relatively constant over the last decade. It was 1.5:1 in 2014, the same that it is now in 2024. The only movement away from this ratio was between 2018 and 2021 when it was 1.6:1.
While prices of new and used vehicles have risen over the years, the top three brand preferences have remained consistent - although positions have changed. Toyota has moved from second in 2014 to first in 2024, while Volkswagen has moved in the opposite direction - although Volkswagen did lead the pack for seven of the 10 years.
Top five brand preferences for women buyers: 2014 to 2024
Ford started and ended the decade in third place but did go to the top in 2017.
Positions four and five have changed hands fairly frequently with four brands represented over the last 10 years. Currently (so far in 2024) these positions are held by Suzuki and Nissan.
New vehicle bodyshape preferencs for women buyers: 2014 to 2024
Women buyers have a clear preference for new Crossover/SUV and Hatch bodyshapes, as the graph above shows.
The Crossover/SUV moved into second spot in 2015, passing the Sedan on its way down the popularity chart, and has grown strongly since then, becoming the number one choice in 2020.
The Hatch has fallen from just under 45% share in 2014 to around 30% in 2024, but that is still well ahead of the other bodyshapes which are clustered around 5% share. The Sedan/Estate has crashed from second spot (20%) in 2014 to fifth in 2024, at just around 4% of new vehicle sales to women.
The Crossover/SUV and Hatch have not dropped below 70% of sales to women since 2018 and account for 77% in 2024, ahead of the industry average of 62% of Light Vehicle sales reported by the dealer channel.
There has been a similar shift in the used vehicle market (see graph below). Crossover/SUVs overtook the Sedan/Estate in 2016, and has grown strongly ever since.
The Crossover/SUV shape accounts for 41% of all used car purchases made by women in 2024, with the Hatch at 34%.
The Sedan/Estate's decline in the used car market has not been as dramatic as its fall in the new car market, falling from 20% in 2014 to around 6% in 2024.
Used vehicle bodyshape preferences for women buyers: 2014 to 2024
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