As the demand for affordable housing continues to grow, Standard Bank has reported a notable rise in home loan applications from women, reinforcing its role in making property ownership more accessible for first-time buyers across South Africa.
Toni Anderson, Head of Home Loans at Standard Bank, says the shift is significant. “We are witnessing a remarkable shift in the demographics of homeownership. More women are entering the property segment than ever before, and they are playing an increasingly important role in managing homes and home finance,” she said.
Anderson also highlighted the broader meaning behind these figures: “In 2024, we saw 4,831 new affordable housing mortgage customers, with 55% being female, amounting to R2.67 billion in loans. This is a notable increase from 2023, where 51% of our 4,659 new customers were women, with loans totalling R2.58 billion.”
The bank’s focus remains on helping households earning between R3,500 and R22,000, specifically for those purchasing homes priced under R1 million. Standard Bank’s affordable housing loan book has grown accordingly, with the number of loans increasing from 95,654 in 2023 to 97,388 in 2024. This brings the total value from R32.63 billion to R33.2 billion, a growth of around 1.8%.
Anderson explained that property ownership holds deeper value for many South Africans. “We understand the importance of owning a home. Homeownership is not just about having a place to live; it represents financial stability, generational wealth, and a sense of security. We are dedicated to helping our customers achieve this dream by providing comprehensive support and innovative solutions,” she said.
To ease the upfront financial pressure on buyers, Standard Bank offers up to 108% financing for qualifying first-time homeowners, which helps cover costs such as bond registration and transfer fees.
Further support comes in the form of homeownership training programmes, available in multiple formats, such as e-learning, online, or in-classroom. These sessions, funded by the bank and delivered by external providers, aim to equip customers with the practical knowledge needed to manage their homes effectively. “We believe that education is key to successful homeownership,” Anderson added. “Our training programs ensure that our customers are well-equipped to handle the responsibilities that come with owning a home.”
Additionally, the bank’s collaboration with government bodies, including the National Department of Human Settlements, the National Housing Finance Corporation, and provincial housing departments, has allowed more buyers to benefit from the First Home Finance Programme. The initiative provides qualifying applicants with a once-off subsidy between R38,911 and R169,265, depending on their income. These funds can be used toward a deposit, conveyancing fees, or to reduce monthly repayments.
“Many potential homeowners are unaware of the government assistance available to them,” Anderson said. “Our collaboration with government entities ensures that our customers can take full advantage of these subsidies, making homeownership more attainable.”
Through its ongoing focus on affordability, education, and strategic partnerships, Standard Bank is contributing to long-term change in the housing sector, especially by enabling more women to take the lead in homeownership.
“As the largest affordable home loan provider in South Africa, we are proud to lead the charge in making homeownership a reality for all,” Anderson concluded. “We will continue to champion the role of women in affordable housing and work tirelessly to ensure that every South African has the opportunity to own a home.”
