ITS MY HOUSE- The average age of first-time home buyers keeps going up

Loading player...
GUEST - Renier Kriek, Managing director of Sentinel Homes

South Africa’s youth finds itself in a precarious state. Millions are without jobs, while others work in places where they get below the minimum wage. Even those who are employed find themselves in uncertainty as food and fuel prices surge.

As a result, first-time homebuyers’ ages keep going up. Because of affordability, first-time home purchasers are getting older. The ages rose from around 30 to 32 years to approximately 38 to 40 years, said Sentinel Homes. Home ownership is a route to financial security. Because there is no restriction requiring your first property to be a residence, you have the choice to purchase the home you can afford as the best way to get started. Over the last 70 years, asset values have risen significantly faster than wage growth, and this tendency is expected to continue. Simply put, homes are getting less affordable.

This is according to the MD of Sentinel Homes, Renier Kriek.
12 Sep 2023 4PM English South Africa Business News · Investing

Other recent episodes

Southern Africa sees Private Capital's Big Comeback

Private capital is making a strong comeback. Fundraising in Southern Africa surged by 162%, making 2025 one of the strongest years on record. Anusha Naidu, CEO of SAVCA, unpacks what's driving renewed investor interest, where capital is being deployed, the sectors attracting attention, and what private equity investors are telling…
29 Oct 1PM 12 min

Investing In Women: Business Strategy Or Box-Ticking?

Corporate South Africa has spent years talking about diversity and transformation, but is enough being done to build the next generation of women leaders? Pride Mnene Hlungwani, marketing and transformation leader at bp South Africa, explains why leadership development matters, the economic case for investing in women, and how businesses…
29 Oct 1PM 30 min

Africa's Resilience Dividend: Where Smart Money Is Heading

What makes an African economy investable in today's uncertain world? Precious Dube, Macroeconomist for Broader Africa at RMB, unpacks the bank's latest Where to Invest in Africa 2026/27 report. From Morocco's rise and South Africa's resilience to the growing importance of policy reform, institutional strength and economic stability, we explore…
29 Oct 12PM 17 min

How South Africans Are Stretching Every Rand

South Africans are increasingly living two very different financial realities. New research from NielsenIQ reveals a growing consumer divide, with almost equal numbers reporting that they're either financially worse off or better off than a year ago. As inflation, food prices and household costs continue to bite, consumers are changing…
28 Oct 1PM 13 min

ECIC at 25: Reimagining South Africa's Export Future

As the Export Credit Insurance Corporation of South Africa (ECIC) marks 25 years of supporting exporters, newly appointed CEO Linda Seroka joins Kaya Biz to outline the institution's future vision. From supporting emerging exporters and SMMEs to exploring new trade opportunities in Asia and the Middle East, the discussion examines…
28 Oct 1PM 13 min