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A recent article by Domain.com.au’s Larke Reimer, talks about the disparity of home ownership between males and females. She discusses a report published by the Huffington Post, stating that “single [U.S.] women make up 18 percent of homeowners, compared with 10 percent of single men.”
This trend is not exclusive to the United States. According to Reimer, in Australia, a 2012 Westpac Report on Women’s Finances by Generation revealed that almost a third of the Gen Y women were already property owners.
The same report indicated that Gen Y women were more independent and financially focused than their earlier counterparts, with many of them holding off marriage and a family until they were financially secure. They aren’t waiting for their partner to find a home – they’re buying in the real estate market now.
Says Reimer, “Look across the age groups and among sole homeowners, and you will see 65 percent of single female householders own their own home compared with 55 percent of single male households. SYFs [single young females] have been buying for a while and they pay off their mortgages faster.”
Why the difference?
Reimer explains, “The report, [Huffington Post’s report] driven by the National Association of Realtors, also found that young women look for a home they love, while boys prioritise on value, and we see similar behaviours happening here in Australia.”
Sharing her own observations, Reimer describes a typical scenario. “Come to where I live in Melbourne on a Saturday morning for coffee and you could be in any hip, inner-capital-city enclave in the country.
“Predominately, crammed with young women every Saturday – espressos in hand, electronic notebooks open at real estate sites – I see them checking out what’s for sale and auction and plotting the day’s viewing and buying, and I’m not alone,” continued Reimer.
“I know from colleagues and friends across the country that what’s happening around my local area is not unique. Recent Australian Bureau of Statistics (ABS) figures also show that across the age groups more women than men own their own home.”
Like Reimer, we here at Positive Real Estate have experienced this interesting phenomenon. The following two success stories highlight single women who – like many young, single women across the country – have established a great future for themselves through investing in property. We are humbled to have been a small part of their success.
Meet Susan Flux:
As a Positive Real Estate client, Susan learned how to overcome her fears, change her “story” and as a result, change her life. After attending one of our Property Investor Nights, Susan began to realise the power she held in her own two hands to create the financial future she desired. Inspired about the possibilities, she didn’t hesitate to join our mentoring program, where she has conquered her fears about borrowing and has acquired a portfolio worth more than a half-million dollars – all in less than 2 years time.
Read her inspiring story here.
Meet Bridget Rees:
Bridget Rees, like many other single parents out there, was finding it tough to get along. A wake-up call in the form of the inability to provide her daughter with a new computer alerted Bridget to the need for change in her finances.
During an interview with Smart Property Investment, Bridget shared the catalyst for her change. “I hit rock bottom at the beginning of 2010 and decided that I needed to do something, so I went and had my house re-financed. This took a lot of the pressure off.”
Bridget didn’t stop there, however. While searching for a way to retire in 20 years while enjoying a quick return she attended one of our Property Investment Nights.
Click here for the rest of her amazing story.