Source: Supplied. Tshiamo Molanda, Head of Youth: Standard Bank.
The reasons are complex, reflecting many adulthood launch tensions. This is a generation trying to balance independence, family responsibility, and aspiration in a stagnant economy, with high costs of living and an unstable job market.
The Report highlights a growing “failure to launch” phenomenon. Nearly half of the 700 graduates surveyed took at least two years after finding their first job to move out of their parents’ home, while 12% still live with them. Of those who’ve left, more than half live with a partner rather than alone.
“The first paycheck can be both liberating and anxiety-inducing,” says Zandile Makhoba, lead specialist of Research & Insights at Liberty. “It’s often the moment graduates shift from being supported to supporting parents, siblings, and themselves. They don’t just enter the workforce; they enter responsibility.”
That responsibility often starts before personal milestones like buying property. Many start by building or improving family homes as an act of gratitude and duty. “There’s a strong emotional drive to ‘build at home’ before building for oneself,” says Makhoba.
According to Tshiamo Molanda, Head of Youth: Standard Bank, these pressures show clearly in lending trends. Not only is the age of the first-time homebuyer rising, but younger professionals are also choosing practicality over prestige in car purchases.
The Standard Bank Youth Barometer Report showed that most buy used vehicles, often without deposits, and prioritise affordability, low maintenance, and resale value. Notably, Chinese brand Chery now ranks among their top 10 choices.
With living costs outpacing salaries, rent is another major burden, especially in cities like Cape Town and Johannesburg. Standard Bank data shows under-35s spend a higher share of income on essentials, leaving little room to save for deposits or qualify for bonds. As a result, many remain perpetual renters, buying homes only once careers stabilise.
“Buying a home at 37 doesn’t show a lack of ambition,” Molanda notes. “It reflects the reality of balancing economic survival with family duty. This generation is resilient. They’re just playing a longer game.”
Lessons in growth: Balancing the pressures
The First 100 Paychecks Report tracks how young professionals’ financial habits evolve over their first decade of work. Early spending often centres on mobility and image, including wardrobes, gadgets and cars, all symbols of independence and practicality before homeownership feels attainable.
As earnings grow, focus shifts to saving, investing, and managing debt. “Through our money-management tools and dedicated advisors, we’re helping young professionals fast-track that journey to make room for homeownership,” says Molanda.
The Report notes that for many, buying property is deeply symbolic. It’s often a family first and a move from supporting others to building personal wealth. “After years of renting and helping parents build, getting those keys represents more than just ownership; it’s a rebalancing toward wealth creation,” Molanda adds.
The report shows that homeowners develop greater financial discipline, saving and investing more consistently. Many go on to further their studies, diversify their income, and build investment knowledge to break the cycle of delayed wealth creation.
That’s why Standard Bank has made first-time homebuyers' journey a strategic focus. It offers support such as covering upfront costs and discounts on attorney’s fees.
Between 2023 and 2025, first-time buyers made up nearly 75% of Standard Bank’s new home-loan applications. Beyond lending, the bank empowers this generation with financial and property education to turn first homes into lasting wealth.
The First 100 Paychecks Report by UCT Liberty Institute of Strategic Marketing was commissioned by Liberty and Standard Bank.
