New research shows that Australian women lag behind men when it comes to residential property ownership.
The 2022 Women & Property Report, released by CoreLogic on International Women’s Day, found that females own 26.6% of residential property in Australia compared to 29.9% of males. It also revealed that men own 36.4% of all investment properties while women own 29.1%, meaning about an extra 105,500 investment properties owned by men.
Women own more units than houses and fewer investment properties than men, where houses historically appreciate in value faster than units. CoreLogic confirmed women own 35.2% of units compared to 34.7% for men.
Co-authors of The Female Investor Nicola McDougall (pictured top) and Kate Hill (pictured below) said the research highlighted the increasing disparity between wealth outcomes for men and women.
Kate Hill
‘’As is mentioned in the report, given that most people’s wealth is tied up in their homes, this means that if you don’t own a property – or have to purchase a unit rather than a house due to affordability reasons, then you will forever be on the back foot financially,” said McDougall.
McDougall and Hill created The Female Investor website to provide expert advice to women on how to create wealth, security and freedom through property.
“The Female Investor provides an overview of everything that women need to start to understand about strategic property ownership. This includes advice on how to save, where and what to buy, how to hold for the long-term, as well as information on how to grow a portfolio with or without a partner” McDougall said.
CoreLogic’s home value index as of January 2022 showed a 10-year annualised growth rate for Australian house values of 6.2% per annum, compared to unit values increasing 4.1% per annum.
“The vast majority of investors – female and male – own one or two properties as well as their own home,” said McDougall. “Some of the reasons why can be because they may have purchased, or inherited, inferior properties that didn’t allow them to reuse equity to add to their portfolios. In essence, it’s the concept of using other people’s money – that is, the banks – to improve your own personal financial future over the medium- to long-term.”
Hill shared her concerns about men owning 105,000 more investment properties that women in Australia, which accounts for nearly 70% of the discrepancy between male and female ownership.
”The higher percentage of unit ownership by women was not surprising given the more affordable buy-in prices, however, women may struggle to ever upgrade to a house. The new research highlights why it’s so important for women to take charge of their financial futures as well as improve their overall financial literacy so they understand the serious role that property ownership plays in their long-term financial security and stability,” said McDougall.
“Our book provides a significant step in the right direction as it will enable readers to gain a better understanding of how they can create wealth, security, and freedom through property. There is also a plethora of information by women for women on our website, podcasts and across our social media channels.”
