Female buying power has shown particularly robust growth in a number of consumer buying patterns, vehicle sales among them. Another area indicating the growth of the female buyer is in consumer magazines where women’s interest magazine circulation figures outstrip men’s interest by more than a mile and show a significant, if not dominant, black readership.
Let’s put this into perspective: black adults (those aged 15 and over) total around 29m, making up 78% of the adult community in South Africa, 52% of whom are female. It could be this higher percentage as well as employment equity legislation that have assisted in elevating the female buyer above her male counterpart. So it should come as no surprise that the property market is yet another area where women are making their mark, with black female ownership figures of 34.7% currently outstripping black male ownership at 32.2%.
Increased purchasing power and changing gender trends are likely reasons for the rise in female-only ownership. According to Lightstone, when excluding the affordable and township market, black female-only ownership is very much in line with female-only ownership trends within the white community.