For years, the story of women and homeownership has often focused on the first step: getting onto the property ladder.
Now, the numbers suggest the story is changing.
New data from FNB Home and Structured Lending, tracking South African home-buying trends from 2015 to 2025, shows that women are increasingly moving beyond their first property purchase.
In 2025, repeat buyers accounted for 51% of female home loan applications.
It is the first time in a decade that repeat female buyers have outnumbered first-time buyers.
That shift could signal something much bigger than changing buying patterns.
It points to women increasingly viewing property not only as a place to live, but as a potential tool for long-term financial security, asset accumulation and wealth creation.
The Property Ladder Is Becoming a Wealth Journey
The latest figures paint a picture of progression.
Women are not simply entering South Africa’s property market. Increasingly, they are staying in it.
Some are returning to purchase additional properties. Others are moving into higher-value segments.
Over the past decade, the proportion of women purchasing properties valued above R1 million has doubled, rising from 21% in 2015 to 42% in 2025.
That increase adds another layer to the repeat-buyer trend.
It suggests that women’s growing presence in property is not only about gaining access to homeownership. It is also about progressing within the market over time.
According to Vanashree Naidoo, Home & Structured Lending Product Head at FNB, the most significant development is this progression.
“The most compelling story in the data is one of progression.”
Naidoo says more women are entering the property market, remaining invested, purchasing additional properties and steadily building their asset base.
That represents a shift in how homeownership is being approached.
For an increasing number of women, owning a home is becoming more than a milestone.
It is becoming part of a longer financial strategy.
Women Are Also Taking the Lead Among First-Time Buyers
The rise in repeat purchases is not happening in isolation.
Women have also strengthened their position among first-time home buyers.
In 2015, women accounted for 43% of approved first-time home loan applications.
By 2025, that figure had climbed to 52%.
That puts women ahead of men and represents an 18-percentage-point improvement relative to male participation over the decade.
The figures show that women are gaining ground at both ends of the property journey.
They are increasingly entering the market.
And more are progressing beyond their first purchase.
Earning Less, Yet Maintaining Strong Repayment Performance
Perhaps one of the most revealing findings concerns affordability.
Among approved first-time buyers, women earn an average of R5,431 less per month than their male counterparts.
Yet women allocate a slightly larger portion of their income to servicing their home loans.
Female first-time buyers spend around 22% of their monthly income on bond repayments.
For men, the figure is approximately 20%.
That means women are carrying a greater repayment burden relative to their income.
Yet the repayment data tells another story.
Approximately 96.2% of women’s home loan accounts remain up to date, compared with 95.9% among men.
Women also record lower average default rates.
The combination is significant.
Despite lower average income and a slightly higher relative repayment burden, women’s repayment performance remains marginally stronger.
Financial Discipline Behind the Numbers
For Naidoo, these figures provide important context around women’s growing participation in property.
She points to the consistency with which women meet their repayment obligations despite affordability pressures.
The data, she says, reflects strong financial discipline and prudent money management.
It also suggests that women are approaching homeownership with a long-term mindset.
That combination of affordability awareness, commitment and repayment consistency could help explain why women continue to strengthen their position in the property market.
It is not simply about being able to buy.
It is about sustaining ownership.
And increasingly, it is about progressing from one property purchase to the next.
More Women Are Buying Without Bonds
Another striking part of the FNB data is how women are financing property purchases.
More than half of female-only property purchases between 2015 and 2025 were completed without bond finance.
The individual sources of funding vary.
They can include accumulated savings, proceeds from previous property sales, inherited assets or other sources of capital.
The broader trend, however, is clear.
A significant share of women buying property are doing so without traditional home loan finance.
That adds another dimension to the growing picture of financial agency and accumulated wealth.
Sectional Title Gains Ground
Women’s property preferences are changing too.
Purchases of sectional title properties have increased significantly over the past decade.
The trend reflects growing demand for features such as security, convenience and lock-up-and-go living.
It also highlights how property decisions are evolving alongside the changing needs and priorities of buyers.
Women Are Gaining Ground Even in a Softer Market
Perhaps the strongest evidence that this trend is not simply the result of a booming housing market comes from the broader transaction data.
Residential property transaction volumes have declined from their 2021 peak.
Yet women’s share of residential property purchases increased.
In 2015, women accounted for 23% of residential property purchases.
By 2025, their share had risen to 27%.
That growth happened despite a softer overall property market.
For Naidoo, that distinction matters.
Women are increasing their participation through very different market conditions.
Combined with the rise in repeat buying, she says the trend cannot simply be explained by favourable market conditions.
From Homeowner to Asset Builder
Taken together, the numbers tell a compelling story.
Women are entering the property market in greater numbers.
They are increasingly making second and subsequent purchases.
They are moving into higher-value properties.
They are increasingly purchasing property without bond finance.
And their home loan repayment performance remains strong despite income disparities.
The result is a picture of women moving from homeownership as a destination to property ownership as a longer-term financial journey.
Naidoo describes that progression as a story of determination, resilience and 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,” she says.
That evolution could have consequences far beyond individual households.
Building equity can strengthen a person’s financial position.
Accumulating assets can support long-term financial security.
And property wealth can potentially create a foundation for future generations.
A Bigger Story for Women’s Economic Power
As South Africa marks Women’s Month, the decade-long data offers a striking snapshot of women’s changing role in the country’s property market.
There are still significant challenges.
Affordability pressures remain.
Income disparities remain.
And buying a home continues to require careful financial planning.
But the direction of travel is difficult to ignore.
Women are not only entering the property market in greater numbers.
They are staying invested.
They are moving up the property ladder.
They are purchasing additional properties.
And they are building assets along the way.
The headline may be that women now account for 51% of repeat female home loan applications.
But the deeper story is what that number represents.
It is a shift from simply owning a home to thinking about what ownership can build over time.
For an increasing number of South African women, the property journey is no longer ending at the front door.
It is beginning there.
