Single women make up 18% of homeowners compared to 10% of single men

Single women make up 18% of homeowners, compared with 10% of single men

 

Recent Australian Bureau of Statistics (ABS) figures showed that across the age groups more women than men own their own home.

 

In a 2012 Westpac Report on Women’s Finances by Generation, found Gen Y women to be more financially focused than previous generations.  Many of them are highly educated, and waiting later to get married and they want to experience financial independence and security now.

 

In fact, almost a third of the Gen Y women surveyed in the Westpac report had already entered the property market.  This is not a new trend, in 2006 a survey revealed more single women were buying properties for themselves than ever before.  

 

Seven years on and new ABS figures show 65% of single female householders own their own home compared with 55% of single men.   SYFs have been buying for a while and they pay off their mortgages faster.

 

Young professional women in Australia who are out of university and in the workforce, aren’t waiting to partner up to buy a home, any more.  They are aware of where they like to live, and why they chose their home in these locations,  as well as what they’re planning to improve.  

 

They’re taking control of their own lives and have been for a while and they’re proud to talk about it.

The majority of young women are owner-occupiers.  They’re also better savers, which lenders say make them better able to cope with ‘mortgage stress’ and saving for the deposit, paying the mortgage effectively, etc…