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News: Women a rising force in Australian property

Single women are accounting for an increasingly large proportion of the Australian home buyer market according to a survey commissioned by First National Real Estate (FNRE).

The survey found that 18 per cent of women have purchased a property by themselves.  What's more, FNRE’s chief executive, Ray Ellis, predicted that, based on the survey’s outcome, this figure is likely to increase to more than 20 per cent in the next five years, meaning that one in five women will be buying a property by themselves in 2010.

The United States currently has a similar trend.  According to data from the National Association of Realtors in the US, more single women buy homes than single men and one out of every five home buyers is a spinster.

Ellis said, “Women account for one-third of all apartment and townhouses purchased as well as 6 per cent of second homes.”

Unequal treatment

Representing 79 per cent of those polled, however, the vast majority of women still buy a property with their spouse or partner.

However, Newspoll found that a quarter of female survey respondents felt that real estate agents paid more attention to their partner.

“While most homes are bought by a couple, a woman obviously has enormous clout in the decision,” said Ellis.  “To treat them differently in any way is not only discriminatory but bad for business and bad for the industry.”

In the survey, Newspoll examined the property buying patterns of 308 female home-owners and 183 male and female renters around Australia last month.

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