Vicky S3 June 2025 | 5:44
Homeowners increasingly aspire to having solar power - Absa Homeowners Sentiment Index
The index also shows that migration to the Western Cape is slowing.
Picture: © kzenon/123rf.com
CapeTalk's Clarence Ford speaks with Tshepo Mashashane of Absa Home Loans about the Absa Homeowners Sentiment Index (HSI) Q1 2025.
Listen below:
The index reveals a growing aspiration among homeowners to live off the grid.
It also shows that first-time homebuyers are entering the market at an average age of 38.
"The reasons or the drivers why we are seeing people get into home ownership a bit late ... the economic conditions, the second one was unemployment. So I think those are big things in South Africa that are really delaying homeownership."
- Tshepo Mashashane, Absa Home Loans
Mashashane says it would be ideal to get young people who enter the job market to invest in property.
The index also revealed a drop in home renovations.
"It has dropped... rising costs from the construction sector in terms of goods and labour... It's still strong. There are still those pockets of opportunity in terms of renovating their properties for mainly two reasons: comfort for the homes that they live in, but also as an investment opportunity where they can renovate their properties and sell them off for much higher value."
- Tshepo Mashashane, Absa Home Loans
Migration trends reflected in the index show that, while the Western Cape is still receiving 'semigrants', the trend is slowing down.
"When you compare it with the same time last year, it is down 25%."
- Tshepo Mashashane, Absa Home Loans
He says South Africans are beginning to look at other provinces like the Eastern Cape.
Scroll up to the audio player to listen to the interview.