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

Reading South Africa's Economic Pulse

South Africa's economic activity weakened again in October, but there are emerging signs that pressure on households and businesses may begin to ease. Independent economist Elize Kruger unpacks the latest PayInc Economic Index, the fuel price outlook, consumer behaviour, business confidence and the key economic trends to watch heading into…
11 Nov 12PM 10 min

EasyEquities' Next Growth Chapter

Charles Savage, CEO of Purple Group, joins Kaya Biz following another year of expected double-digit earnings growth. The conversation explores the power of platform scale, the evolution of EasyEquities, the R100 billion client asset milestone, AI, international growth ambitions and the future of retail investing.
11 Nov 12PM 15 min

Dipula Properties Delivers Fy’2026 Distributable Earnings jump of 22%

Dipula Properties delivered earnings growth ahead of guidance while aggressively reshaping its portfolio through acquisitions, disposals and a deeper focus on retail and industrial property. CEO Izak Petersen joins Kaya Biz to discuss the company's expansion strategy, the outlook for listed property, and why convenience retail remains central to its…
11 Nov 12PM 19 min

Premier Bakes H1’2026 Operating Profit Surge Of 52.5%

Premier FMCG reported a strong set of interim results, with earnings growth, expanding margins and early benefits emerging from its acquisition of RFG Holdings. CEO Kobus Gertenbach discusses integration progress, consumer spending trends, commodity price dynamics and how Premier plans to sustain growth as it scales into a larger and…
10 Nov 12PM 16 min

South Africa’s Construction Capacity Question

South Africa is betting heavily on infrastructure to drive economic growth, yet concerns remain about project delays, contractor failures, skills shortages and shrinking industry capacity. We speak to Tshidiso Lekgetho, Acting Registrar of the SACPCMP, about the real state of the construction sector, the importance of professionalisation and accountability, and…
10 Nov 11AM 18 min