The number of women who bought a home last year has risen to nearly match male buyers, despite the persistent gender pay gap and multiple lockdowns during the pandemic, analysis by CoreLogic shows.
Melbourne-based Mickayla Chapman, who recently bought her first home through ME Bank, said while it took her two years to save the deposit, the financial help from her parents enabled her to buy the two-bedroom, two-bathroom apartment in Reservoir quicker than most people.“I sacrificed a lot when saving for a deposit and really watched my expenses,” she said. “I was lucky to have my parents help with my deposit, so I could buy sooner.
In comparison, single male applications rose by 6 per cent to $449,273 in 2021 compared to 12 months prior, while the overall proportion of single male applications fell by 1 percentage point to 50 per cent.Single males are more likely to leap into the property market before single females, buying in at an average age of 32 compared to 34 for women, ME found.
Just 26.6 per cent of homes were owned by women, compared to nearly three in 10 owned by men as of January this year. The gender pay gap in full-time ordinary earnings rose from 13.4 per cent at November 2020 to 13.8 per cent in November 2021, according to ABS data. Catherine Lezer, president of the Strata Community Association and an active property investor, said older women were most at risk as the wealth gap in housing widened.
Geez she is happy...