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The Citizen
7 days ago
- Business
- The Citizen
How South Africa's youth approach the property market
Youth Month casts a spotlight on the ambitions and obstacles facing young South Africans in the property market. Across the country, the number of home purchases by buyers under 35 has decreased over the past year. But while volumes are lower, the intent behind each transaction reflects a more considered, long-term approach to building financial security. According to recent Lightstone data, individuals aged 18 to 35 accounted for roughly 25% of total home loan applications in South Africa during the first half of 2025. In Pretoria specifically, transactions in this age group have seen a year-on-year decline of about 8%, a trend driven largely by economic pressures, stricter lending criteria and the rising cost of living. Pearl Scheltema, CEO of Fitzanne Estates, said the challenges are significant but not insurmountable. 'Young buyers are incredibly focused,' she explains. 'They're taking longer to enter the market, but when they do, they're investing with purpose. 'We're seeing fewer impulse purchases and more structured decisions based on long-term affordability, rental return potential and proximity to work or study hubs.' Pretoria remains a key market for entry-level property, driven by a growing population of students, graduates and young professionals. Suburbs such as Equestria, Montana, and parts of Centurion continue to attract first-time buyers looking for accessible pricing and strong transport links. However, even in these areas, rising interest rates and inflation-linked municipal costs are forcing buyers to be more cautious. 'The affordability gap is where most deals fall through,' says Scheltema. 'A buyer may qualify on paper, but after bond costs, levies, rates, insurance and maintenance, the actual monthly burden is just too high. Banks are also more conservative now in how they assess risk, especially for buyers with little deposit.' Despite this, Fitzanne Estates has seen an uptick in enquiries related to long-term rental investment. Some young adults are opting to purchase smaller sectional title units in high-demand rental areas, not as primary residences, but as entry points into property investment. Affordability pressures are being compounded by factors such as student debt, irregular income, and limited access to financial literacy. Many prospective young buyers lack formal education on what ownership truly entails—from transfer costs and compliance certificates, to managing body corporate responsibilities and insurance. In response, Fitzanne Estates has expanded its educational outreach to support younger clients. The company has also observed that youth-led purchases are increasingly supported by family. Parents co-signing bonds, assisting with deposits, or even investing jointly with their adult children is becoming a common strategy to overcome affordability hurdles. While challenges remain, Scheltema is cautiously optimistic. 'This generation isn't giving up on property. They're just approaching it on their terms. They ask more questions. They compare options. And they push back when something doesn't feel financially sound. That's progress.' As the country marks Youth Month, the focus on youth inclusion in economic opportunity continues to extend into housing. Support from credible, experienced property professionals remains essential. 'Buying property at a young age can still be a smart move,' Scheltema said. 'But it has to be rooted in good advice, realistic budgeting, and a long-term view. Our role is to help close that gap between ambition and affordability in a way that lasts.' Also Read: Dojo celebrates karateka's achievements Also Read: #Comrades2025: BAC's Kasu smashes down run PB At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
09-06-2025
- Business
- The Citizen
Cape country towns booming thanks to agriculture and tourism
The property market in several sought-after country towns including Swellendam, Bonnievale, Ladismith, Barrydale, Struisbaai, Riversdale, and Pearly Beach has seen a significant surge in transactions this year, according to Jaco Badenhorst, sales manager for Seeff Country and Karoo. Agents have reported a sharp increase in sales driven by buyers looking to relocate due to healthy local economies and low crime rates. The limited stock for sale has made the market highly competitive. Well-priced properties are attracting multiple offers and selling quickly, often within days of being listed. Lightstone data shows that over 8,000 transactions worth almost R9.5bn were concluded across the Cape countryside last year with about 90% of transactions below R1.5m. Freehold houses in the more popular towns averaged at between R1.8m to R2.5m. Semigration, retirement, and remote working are big drivers of the demand. Growth in local industries such as the major R4.5b Overberg Wind Farm Project near Swellendam is another boost while more buyers are also turning their holiday homes into their permanent residence, he says. Aside from the lifestyle aspects, Badenhorst says the attraction includes the ability to buy a lot more for your money in the country towns. Many people sell up in the big cities, and move to the small towns and start a small business, he adds. The towns mostly offer good infrastructure, access to schools, and proximity to bigger commercial centres. Properties are still overwhelmingly freehold houses, but the sectional title market is growing with new lifestyle and retirement estates coming into the market. There are also plenty of vacant plots in many areas, along with a mix of small holdings, agricultural farms, commercial properties, guest houses, and more. Towns such as Swellendam, Barrydale, and Riversdale have active agriculture, tourism, and small business sectors, which may appeal to new residents. An influx of workers and professionals has boosted demand for rental homes in and around Swellendam and Bredasdorp. Badenhorst says many landlords are reporting full occupancy, and rental prices are beginning to reflect the increasing demand. Val Anderton and Marinda Roux, agents with Seeff Swellendam say they have seen an increase in enquiries from Gauteng and Pretoria as young families look to relocate due to the excellent schools and wholesome environment to raise children. While the average price is in the R2.4m to R3.4m range, they are seeing interest in higher priced properties. Rentals are also in high demand. There's also growing interest in estates such as the new Oewerlust Estate, selling from R2.417m is for example also attracting investment buyers. The Barrydale area is very active in the R2.5m range with buyers coming from all over, especially the Cape, some downscaling or retiring, and others working remotely, says Beate Joubert, an agent with Seeff. Large homes suitable for conversion to guest houses are also in demand. Coastal towns such as Still Bay and Gansbaai are also seeing a rise in people moving to the areas. Adel Regtien, an agent with Seeff Still Bay says the town has always been a popular holiday and retirement destination and has grown significantly over the years, with an increasing number of permanent residents choosing to settle in the area thanks to its proximity to the Garden Route and its location just a few hours from Cape Town. Badenhorst says property values in high-demand areas will keep rising as more buyers seek country living. Another coastal hotspot, Gansbaai has also seen a significant surge in activity and prices over the past few years, according to Anet Rossouw from the Seeff. The average property price has climbed to approximately R2.25m – an increase of over R1m in just four years. This coastal gem is drawing strong interest from across South Africa, she adds. Nearly 60% of buyers are from Gauteng, with a further 10% from other provinces, and the remaining buyers primarily from the Western Cape in search of weekend getaway homes. Everyone wants a spot by the sea, says Rossouw, but it is becoming increasingly difficult given the growth in demand. It's now nearly impossible to find an average three-bedroom, two-bathroom home with a double garage for under R2.3m. With rising demand and limited supply, time is of the essence for buyers. Badenhorst says potential buyers should come prepared so as not to lose out on opportunities. Have your finances in order and work with an experienced agent who can help you move quickly when the right property becomes available. Issued by Gina Meintjes
IOL News
06-06-2025
- Automotive
- IOL News
Volkswagen still most popular brand for young South Africans, but Suzuki catching up
Polo stands for Popular, among buyers under 35. Image: Supplied For the past 10 years, Volkswagen has been the most popular brand for South Africa's new and used vehicle buyers aged under the age of 35. According to Lightstone, financing data shows that the German brand has consistently remained the top choice for under 35s over the last decade, but below that, the rankings have shifted. Around 2020, Toyota moved from third to second spot on the leaderboard. Most popular car brands among South Africans under 35. Image: Lightstone Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Around this time Suzuki entered the top 10 for the first time and by 2024 it had taken third spot from Ford, which was second in 2015. The Blue Oval's discontinuation of smaller cars like the Fiesta, Figo and EcoSport are likely behind this, although the brand's Ranger bakkie remains immensely popular. Chery and Haval have also entered the top 10 in recent years, ranking eighth and ninth respectively in 2025, behind Hyundai, BMW and Nissan. BMW fell from fourth to sixth place between 2015 and 2025, while Chevrolet, fifth in 2015, fell rapidly off the list following the brand's discontinuation in 2017. Kia and Mazda have also fallen out of the top 10 in the past decade. The study did not show any specific model preferences among the brands, but given that the Volkswagen Polo Vivo has consistently been South Africa's most popular new passenger car model during this time period, it is likely favoured among the youth too. As for vehicle types, SUVs and crossover-type vehicles overtook hatchbacks as the most popular body style in 2024. These two formats account for 80% of sales to buyers under 35, with double cabs emerging in third, albeit with a share of less than 10%. Premium brands remain popular Interestingly, the Lightstone data also shows that since 2015 there has been a gradual increase in the average price point at which younger buyers were prepared to finance a vehicle, with this number rising from R200,000 to R321,500. This outpaces the inflation rate by just over R5,000. ALSO READ: All you need to know about May 2025's vehicle sales, including the 50 top sellers Premium vehicle brands also remain popular, albeit to a lesser extent, as Lightstone's automotive data analyst Andrew Hibbert explains. There is still a demand for premium brands amongst the younger consumers as both Audi and BMW have retained spots inside the Top 10 over the past decade, although they have shifted slightly from where they were in 2015,' Hibbert said. The percentage of female finance applicants has increased over the last decade. Image: Lightstone The Lightstone data analysis also showed some positive momentum on the gender front. In 2015, just 35% of finance applicants below the age of 35 were women, but this has gradually grown to 40% over the past 10 years. IOL
Hamilton Spectator
05-06-2025
- Politics
- Hamilton Spectator
Blacklist, interdiction orders needed in Liquor Act reform: Iqaluit MLA
Iqaluit-Manirajak MLA Adam Arreak Lightstone wants Nunavut's Liquor Act reformed to make it harder for people convicted of violent crimes to access alcohol. Lightstone rose several times during the spring legislative sitting to press Justice Minister Pamela Gross and Finance Minister Lorne Kusugak on the issue. Iqaluit-Sinaa MLA Janet Pitsiulaaq Brewster and Uqqummiut MLA Mary Killiktee also posed similar questions. 'I believe all convictions of violent crimes while intoxicated should be accompanied by a court order to abstain from the consumption of alcohol,' Lightstone said in an interview. 'I believe, even stronger, that severe convictions such as murder, sexual abuse or child abuse while intoxicated, should be accompanied with those interdiction orders.' The Liquor Act has a provision allowing judges to place someone under an interdiction order, which prohibits people and businesses from serving or providing alcohol to them. However, since 1999 only one person has been placed under such an order, Kusugak said. Both Kusugak and Gross questioned the effectiveness and practicality of interdiction orders. 'There are other tools in the Liquor Act that can restrict alcohol use, such as decisions by a local alcohol education committee or automatic restrictions for certain liquor offences,' Gross said in a response May 29. She said judges can also restrict alcohol consumption as part of bail and probation conditions. Updating or reviewing the Liquor Act 'will be up to the next government,' Kusugak said in a May 22 response. Territorial elections are scheduled for Oct. 27. Lightstone said he was 'disappointed' by the ministers' answers. He noted larger communities like Iqaluit and Rankin Inlet don't have alcohol education committees, which in some smaller hamlets control the local sale of alcohol. In those smaller communities, people must apply to buy alcohol and be approved by the committee. Lightstone suggested a different type of committee approach. 'Everybody would be assumed to have access to alcohol, and it would only be individuals referred to this alcohol committee by officials like the RCMP or mental health staff or social workers' who would have their name on a 'blacklist.' Theoretically, he said, Iqaluit and Rankin Inlet could be included in that system. Lightstone also called for more collaboration between RCMP and staff from the Justice, Family Services and Health departments. He suggested people from those departments should visit the RCMP holding cells to speak with people detained there. 'These individuals that are likely self-medicating or have other substance abuse issues, they need to know what options are available to them should they be ready to make that healthy life choice, to start going down the path of self-healing.' Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
The Citizen
03-06-2025
- Business
- The Citizen
Look north for affordable Cape Town property under R1m
While much is made of the high property prices in Cape Town, there are in fact still many areas where you can purchase below R1m. Properties below R1.21m are also exempt from transfer duty, thus providing a considerable saving, especially for first home buyers, according to the Seeff Property Group. The northern suburbs of Cape Town is a great area to look for affordability, says Susan McCarthy, manager for Seeff Brackenfell. These neighbourhoods offer good access to transport networks, schools, and general amenities. This combines with the affordability factor, making it easier for first time buyers to get onto the property ladder, securing their own home, and building wealth. If at a later stage they need to move on to a bigger property, it always leaves the option to retain the property as an investment, given the high demand for rentals, or they could sell it at a profit to use as a deposit for their next property purchase. She says neighbourhoods such as Kraaifontein and Kuils River are a good choice for good value as you can find sectional title property in the R700,000 to R1.2m price range. In Eerste River for example, the new Chardonnay Court offers two bedroomed units with modern finishes, a solar geyser, private outdoor braai area, and a parking bay for just R949,900. It is also a neighbourhood with good amenities and access to major routes with transport such as buses, taxis, and a train station on hand. There are schools, shopping centres, medical care, places of worship, a police station, sport grounds and more. The area is popular with first-time buyers. Lightstone data shows that 37% of recent buyers are under 35-years, and a further 44% between 36-49 years. Property values increased by around 70% over the last ten years, with a significant growth spurt during the high-demand Covid boom period, thus making these a good investment. She says they are also great for rental investments. Overall, first home buyers make up a considerable portion of total home sales across the country. According to mortgage originator, ooba, there has been a slight uptick in first-time buying in the first quarter, accounting for some 46.5% of home loan applications. The survey also shows that favourable mortgage lending conditions continue to support first-time buyers, and most banks still offer full bonds to qualifying buyers, depending on the property. Young buyers are not only purchasing for their own use, but there is a growing appetite to invest in property for the rental market. Ooba for example also reported a significant rise in investment property applications from younger buyers, rising from around 3% in 2019 to 9% last year. Issued by Gina Meintjes
