Average age of a buyer



The average age of a property buyer in South Africa is dependent on the region due to affordability factors according to new data by lender, First National Bank (FNB).

The average age of a property buyer in South Africa is dependent on the region due to affordability factors according to new data by lender, First National Bank (FNB).

Structurally, FNB points out that the age demographics can mean that a province can have a permanently older average age of home buyer without this implying anything about relative affordability.

However, since around 2012, in a relatively short space of time, we have seen the Western Cape average age of home buyer rise markedly faster than the rest of the major provinces, to open up a gap on the rest of the provinces, said household and property sector strategist at FNB Home Loans, John Loos.

The average age in the Western Cape is 45.64 years for the four quarters to the first quarter of 2017, while the next oldest average age is recorded in the Eastern Cape at 44.26 years