The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
FinanceWed 07 Feb 18

Housing Market Action Led by More Women

f5442c2c-03b9-4424-8ba2-a112055a3fe5

Women have become more active in the housing market than men, with the most recent trends indicating the future of home buying will be increasingly female-driven.

According to the latest data from Westpac’s home ownership report, 71 per cent of women are considering either buying a home or investment property, renovating or selling in the next five years, compared with 61 per cent of men.

The data was based on a survey of more than 1,000 home owners and first home buyers in Australia.

“Mortgage Choice buyer data shows that while the majority of first home buyers in 2017 were couples, of the 22 per cent who bought by themselves, 58 per cent were women,” Westpac Wire deputy editor Emma Foster said.

“The figure is also high among customers of home loan specialist RAMS, at 49 per cent, up two percentage points since 2013.

Related reading: Australia’s Construction Sector Continues to Expand into 2018

The research suggests that the trend is set to continue, noting that twice as many female first-home buyers as males (22 per cent versus 11 per cent) were considering buying an investment property in the next five years.

“If successful, they’ll further swell the ranks of female homeowners.”

Foster also quoted the latest ABS housing data which revealed 60 per cent of women live in homes they own or are buying, compared to 56 per cent of men, and more women (23 per cent) than men (20 per cent) own their homes outright.

Westpac head of women’s markets Felicity Duffy said many factors were likely to be contributing to these trends, including that women appeared to be using property to “take control of their financial future”.

“Our research suggests women are becoming savvier and feeling more confident in the property market. They understand that home ownership can lead to greater financial security,” Duffy said.

“Also, many of our bankers say they observe more women than men taking control of family finances and, among younger singles, women tend to be diligent at building up deposits so they're better prepared to jump in when the time is right.”

ResidentialAustraliaTrend
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
The Sydney developer is pushing ahead with a project it picked up following the collapse of Dyldam in 2020....
LATEST
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/housing-market-action-led-by-more-women