As regular readers will know, we’ve been reporting on the changing face of the property market for many years now, and one of the key factors in this change has been the growing influence of women in the overall real estate world.
So it was interesting to read that the latest Westpac Home Ownership Report, indicates that women are now overtaking men when it comes to home ownership.
The latest annual survey of more than 1,000 Australian home owners and first-home buyers found that women now lead men in several market categories. For example:
- More women have bought a home to live in than men, (28 per cent vs 20 per cent);
- More women have bought an investment property than men (16 per cent vs 13 per cent); and
- More women are undertaking renovations than men, (29 per cent vs 27 per cent).
The report also found that women tended to have stronger beliefs than men about the importance of owning property.
The findings of Westpac’s survey are backed up by the most recent data from the Australian Bureau of Statistics which shows that 60 per cent of women now live in homes they own outright or have a mortgage on. This compares with 56 per cent of men.
The ABS data also indicates that 47 per cent of all investment properties are owned by women. This ratio looks set to change even further in the coming years, with the survey indicating that women are twice as likely to consider buying an investment property in the next five years (22 per cent vs 11 per cent)!
In a property market that is constantly changing, the value of advice that is up-to-date and in-touch the latest trends id more important than ever. If you are considering a move in the 2018, be sure to talk with one of the team at Ian Reid Vendor Advocates before you make the wrong decision on the best way to sell your home.
Of course, you can also get your FREE copy of our booklet, Fatal Real Estate Traps Exposed, while you’re here on our website.