Black home buyers outnumber Whites for the first time

The effect of Black Economic Empowerment and racial transformation in the workplace has had a spillover effect on the home buyers market in South Africa.

According to an Estate Agent Survey by First National Bank, Black, Asian and Coloured home buyers in suburban South Africa now outnumber Whites for the first time since the end of Apartheid.

Less than half of the total buyers last year were White, down from 57% in 2005 when the bank first started to track the racial composition of home ownership numbers.

Paul-Roux de Kock from Lightstone data analytics joined us in studio to discuss the numbers:

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