September’s home loan activity painted a picture of a market that remains active and surprisingly resilient, even as overall application volumes softened. Buyers continued to purchase at higher price points, with both first-time buyers and the broader market moving into more expensive properties compared with a year ago. First-time buyers remained especially prominent, reinforcing their importance to the South African residential property market.

Lenders also continued to show strong support for buyers, with approved loan-to-value levels remaining high. In practical terms, this means many buyers are still able to secure funding close to the full value of the property they are purchasing.

At the same time, deposits increased, particularly among repeat buyers. This suggests that buyers with existing property equity are entering the market with stronger financial positions, while first-time buyers continue to rely heavily on bank finance. Although the number of new home loan applications was lower than a year ago, the quality of applications appears to have improved, with better conversion through the banks.

“September showed that while the market may be more selective, there is still healthy demand and strong lender appetite for well-prepared applications,” says Shaun Rademeyer, CEO of MultiNET Home Loans. “First-time buyers remain active, banks are still lending, and buyers who position themselves correctly are continuing to secure competitive outcomes.”

Home loan pricing also remained competitive, reinforcing the value of comparing offers across lenders rather than simply accepting the first approval received.

Overall, September was a month of fewer applications, stronger buyers, and continued lender support — a positive sign for buyers considering entering the market.

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