FNB data reveals that, for the first time in a decade, repeat home buyers now outnumber first-time buyers among South African women applying for home loans, signalling a significant shift from first-time homeownership to long-term property ownership and wealth creation.
New FNB Home and Structured Lending data, tracking home-buying trends between 2015 and 2025, shows that women are increasingly moving beyond first-time homeownership. In 2025, repeat buyers accounted for 51% of female home loan applications, marking the first time in a decade that they have outnumbered first-time buyers.
The shift suggests that a growing number of women are moving beyond simply entering the property market and are increasingly using homeownership as a vehicle for long-term wealth creation, leveraging property ownership to build and grow their asset base over time.
Despite affordability pressures, women are also moving into higher-value property segments. Over the past decade, the number of women purchasing properties valued above R1 million has doubled, rising from 21% to 42%. The increase adds another dimension to the repeat-buyer trend, suggesting that women’s growing participation isn’t only about entering the property market but progressing within over time.
According to Vanashree Naidoo, Home & Structured Lending Product Head at FNB, the decade-long trend points to something more significant than increased access to homeownership. “The most compelling story in the data is one of progression. More women are not only entering the property market, but they are also staying invested in it, purchasing additional properties and steadily building wealth over time. This points to a meaningful shift in behaviour, where homeownership is increasingly being viewed not just as a milestone, but as a strategic tool for long-term financial security, wealth creation and asset accumulation.”
Women have also strengthened their position among first-time home buyers. In 2015, women accounted for just 43% of approved first-time home loan applications. By 2025, their share had increased to 52%, placing them ahead of men and representing an 18-percentage-point improvement relative to male participation over the decade.
The data also reveals a notable affordability dynamic. Among approved first-time buyers, women earn an average of R5,431 less per month than their male counterparts yet allocate a larger share of their income to home loan repayments. Female first-time buyers spend around 22% of their monthly income servicing their bonds, compared to 20% for men.
Despite carrying this greater relative repayment burden, women’s home loan repayment performance remains marginally stronger. Approximately 96.2% of women’s home loan accounts remain up to date, slightly higher than the 95.9% recorded among men. Women also record lower average default rates. Naidoo says the combination of lower average income with strong repayment behaviour provides important context to women’s growing participation in property.
“Women often enter homeownership with less disposable income, which means affordability remains a very real consideration. What is particularly noteworthy, however, is how consistently they meet their repayment obligations. Despite often carrying a slightly higher repayment burden relative to income, the data points to strong financial discipline and prudent money management. It reinforces what we’ve seen over time: women tend to approach homeownership with a long-term mindset, carefully balancing affordability with commitment. This resilience and consistency not only support sustainable homeownership outcomes but also strengthen women’s position as some of the most responsible borrowers in the market.”
Another notable trend is the extent to which women are purchasing property without home loan finance. More than half of female-only property purchases between 2015 and 2025 were concluded without bond finance. While individual funding sources differ, the trend points to women increasingly drawing on accumulated savings, proceeds from previous property sales, inherited assets, or other sources of capital when buying homes.
Property preferences are evolving too. Purchases of sectional title properties have increased significantly over the past decade, reflecting growing demand for security, convenience, and lock-up-and-go living.
Women’s participation has also remained resilient despite a softer overall housing market. Residential property transaction volumes have declined from their 2021 peak, yet women’s share of residential property purchases grew from 23% in 2015 to 27% in 2025.
Naidoo says this matters because it shows that women’s growing participation isn’t simply because of a good property market. “Women continue to increase their share of property purchases through very different market conditions. Combined with the rise in repeat-buying, this is not a short-term market effect.”
Taken together, these findings point to a meaningful evolution in women’s participation in South Africa’s residential property market over the past decade. More women are entering the market, more are progressing to second and subsequent property purchases, and repayment performance remains consistently strong despite ongoing income disparities.
For Naidoo, the data tells a story of determination, resilience and long-term financial progress. “When we see more women progressing to second and subsequent property purchases, we’re seeing homeownership evolve from a milestone into a powerful wealth creation tool,” says Naidoo. “It shows that more women are not only gaining access to property ownership, but are using it to build equity, strengthen their financial position and create lasting assets for themselves and future generations. That’s significant for individual financial security, household wealth and long-term economic resilience.”
As South Africa marks Women’s Month, the decade-long trends provide a powerful indicator of women’s growing economic participation and financial agency. While affordability pressures and income disparities continue to present challenges, the direction of travel is clear: women are not only entering the property market in greater numbers, but they are also increasingly building wealth through it, progressing along the property ladder and strengthening their long-term financial futures.
