Aussie women are now significantly more likely than men to be planning some sort of real estate transaction in the next five years, according to Westpac’s latest Home Ownership Report published on news.com.au.
See how the sexes compare when it comes to property intentions over the next five years:
- Buying a home: 28 per cent of women versus 20 per cent of men
- Buying an investment: 16 per cent of women and 13 per cent of men
- Selling a property: 17 per cent of women and 14 per cent of men
- Renovating: 29 per cent of women and 27 per cent of men
Westpac head of women’s markets Felicity Duffy said women faced “unique financial challenges” including the gender pay gap and taking time off work for kids or caring for elderly parents.
This was driving women to find alternative sources of income.
“They’re taking matters into their own hands and increasingly investing in property as a potential way to secure their financial futures,” Ms Duffy said.
It’s a trend that is becoming more evident in first home buyers.
Female first timers are twice as likely (22 per cent) than their male counterparts (11 per cent) to consider buying an investment property in the next five years.
And they have strengthened the belief that owning their own home is a reflection of their success in life, with 43 per cent of women agreeing with this statement, compared to 22 per cent of men, up from 34 per cent versus 29 per cent in 2016.