New data from ME Bank shows the proportion of single female home loan applications has now hit 53 per cent.
“This data shows that gender is no barrier when it comes to buying your own home,” ME Bank head of home loans James Sheffield told Domain.
“While women are buying a little later and with smaller loans, the proportion of single women getting on to the property ladder is now greater than single men.”
While a greater proportion of women are buying property, the wealth gap still exists in terms of property value and investment property assets.
A Property Investment Professionals Australia (PIPA) survey published earlier this year in Your Investment Property Magazine, showed women made up just 27 per cent of property investors.
This prompted PIPA Chair Nicola McDougall to stress the importance of women’s financial independence.
So what are your options if you want to fly solo and buy a home or investment property?
Getting good financial advice from an independent financial advisor is a great first step. The Australian Government’s MoneySmart website offers this advice on finding a financial advisor.
Housing Australia (formerly NHFIC) also offers a range of support to buy a home including help for first home buyers, single parents and regional buyers to achieve home ownership sooner.
Ready to find your very own home? View our current listings for sale.
Interestied in investing? Talk to us about landlording.
