The CoreLogic Women & Property report has revealed a significant increase in the number of women buying property on their own. According to the report, 26.8% of Australian property is now solely owned by women, up from 26.2% in the previous year. Although the number of properties owned solely by men remains higher at 29.9%, the trend is certainly pointing towards a rise in women buyers in the real estate market.
Interestingly, the report also found that more women than men solely own apartments, with 35.7% of apartments owned by women compared to 34.6% owned solely by men. This trend towards apartment ownership may be due to the fact that apartments are often more affordable than houses, making them an attractive option for single buyers.
The report also revealed that women-only buyers appear to prefer inner-city locations. In Sydney, the Eastern Suburbs has the highest percentage of female-owned property at 37.3%. Meanwhile, in the inner-Melbourne market, the highest percentage of female-only owners was found to be 34%, and in Brisbane, women are sole owners in 30.5% of properties in the inner city.
It’s not just in the major cities that women are dominating property ownership. In regional New South Wales, Newcastle-Lake Macquarie has the highest percentage of female-only owners at 33%, while in regional Victoria, it is Ballarat at 28% and in regional Queensland, it is Toowoomba at 26.6%.
The increase in women buyers in the real estate market is a positive sign of progress towards gender equality in property ownership. It’s also a reflection of changing societal norms, with more women choosing to pursue homeownership independently. As the trend continues, it will be interesting to see how it shapes the future of the real estate market and whether we see a shift in the types of properties that are being developed and marketed to cater to the needs of female buyers
