The Australian Bureau of Statistics have released data that shows that women aren’t waiting for men to provide a stable home for them, as 61% of women now own their own property, whereas just 58% of men own their home.
For single people alone, 65% of women and 55% of men own properties. These numbers are quite surprising, but reflect the way today’s women operate in the decision-making process as far as finances are concerned. Clearly, women no longer expect men to provide for them and are seeking advice from their mortgage brokers as a stage of controlling their own finances.
Homeowners are Getting Younger
The research shows that women are aware of the circumstances where older women have been left without owning a property after a divorce, and that the dynamics between relationships have change between women and men.
Discriminating against women is firmly left in the past as bank managers and mortgage brokers see women as decision-makers in their own right. Women tend to hold properties for longer and see them as a home, whereas men treat properties as something to buy and sell and make money from.
Single people are becoming more aware of the fact that they don’t have anybody else to support them financially and they need to be in charge of their own future. In many circumstances, while women do have partners, both are treating their properties as completely separate in their financial planning and they may often live apart.
Increasing Women Buyers
Mortgage brokers in Baldivis, Kwinana and Rockingham have seen the number of women-only buyers increase rapidly over the past few years. Some of these women have become investors and have purchased further properties to rent to tenants, to provide a source of income now, and the stability of having a property to sell when they are older, if they are still single and wish to retire, for example.
Even though some of this information and figures are unexpected, women have always known that property is a good investment, but the past saw the men as the main earners for the family and he tends to make the decisions when it comes to properties and investments. Those days are gone as women are prepared to be more than equal in this decision-making process.
The census data shows that women, who live in low income households, are still the least likely to suffer from the stress of trying to pay a rental on a property. 34% of women claim to be in this category, compared to 37% of men.
Clearly, women are willing to visit their mortgage brokers to be able to discuss the possibility of purchasing a property, backed by a home loan, either to use it to buy their own home, or as a potential investment to provide income through renting.