More single women are buying property for themselves: survey

Australian women home-owners consider neighbourhood safety one of the most important influences when buying a home, most wait until they have found a partner or are married before moving into home ownership, and many believe real estate agents take more notice of their male partner than of them.

But a Newspoll survey, commissioned by First National Real Estate, also shows more single women are buying property for themselves.

The survey, of 308 female home-owners around Australia and a further 183 male and female renters, is the first to look at real estate trends and buying patterns among women.

Conducted in March this year, it found that:
- 79 per cent of women surveyed bought the property jointly with their spouse or partner, 18 per cent bought for themselves alone and a further 5 per cent purchased a property jointly with a person other than their spouse or partner;
- There is no obvious bias in perceptions about who "had the most say" in the decision to purchase a property, with 71 per cent of women surveyed saying they and their partner had an equal say in the decision to buy the home;
- When it comes to beliefs about the way real estate agents dealt with them, about a quarter of women (26 per cent) felt agents tended to take more notice of their partner.
First National Real Estate CEO Ray Ellis said the number of women purchasing property either alone or with someone other than their partner was in line with research data from overseas.
"In the US, for example, single women homebuyers doubled between 1989 and 2003, according to the National Association of Realtors there," he said. "One out of every five home buyers is a single woman, women account for one-third of all apartment and townhouse purchased as well as 6 per cent of second homes, and single women outpace single men when it comes to buying homes. Clearly, single Australian women are also becoming a rapidly rising force in the property market."
At the same time, Mr Ellis said the majority continue to settle for the traditional model - a family home in a safe neighbourhood purchased with a spouse.
The survey found that an area being safe to live in was a key factor on the decision to buy a property, with 70 per cent of survey respondents saying it was a major influence, well above other factors identified in the survey. These included:

- 56 per cent said the number of bedrooms was a major influence;
- 55 per cent said the potential for the home to increase in value was a major influence;
- an outdoor living area was cited by 49 per cent as a major influence;
- off-street parking was a major influence for 45 per cent of respondents;
- the home having renovation potential was a major influence for 44 per cent;
- 36 per cent said proximity to shops was a major influence and 30 per cent said proximity to schools (although this rose to 46 per cent among those with children under 18);
- the home already being new or fully renovated was a major influence for 30 per cent;
- only 29 per cent said proximity to public transport was a major influence - the same number who said a view was an important factor.
Mr Ellis said while these results show a more traditional snapshot of home buying, it's time the property industry considered a balance between the needs of families and the emerging numbers of singles.
"There is a huge lack of data," he said. "With the traditional family set to decrease as the major demographic segment in the coming decades, and single and aged households growing significantly, it's interesting to speculate whether the property market is properly catering to singles or even to female-headed households in terms of options they might want. At the moment the main choice in most places is between a high-rise apartment and a traditional family home, and these may not be the first choice of single women."
He said while the survey showed single women are buying property, further research was needed to identify housing needs and plans of, for example, the older single female buyer who is likely to have different needs and preferences to those of first-time younger single buyers.
"There are also a lot of single women out there planning to buy a property or saying they want to buy a property," he said.
Among renters, the vast majority of those surveyed who would like to buy have not done so because they can't afford it at the moment. Although 46 per cent expected to buy within the next 12 months, 32 per cent felt they would never buy.
Mr Ellis said this reflected the emerging housing affordability issue for many younger couples and singles.
He said the trends identified in the survey supported Australian Bureau of Statistics data which showed a drop in people aged 25 to 34 buying houses between 1981 and 2001, and a growth in the number of people looking for housing options other than a traditional family home.
Mr Ellis also said it was unacceptable for a quarter of female survey respondents to say real estate agents tended to take more notice of their partner.
"While most homes are bought by a couple, a woman obviously has enormous clout in the decision," he said. "To treat them differently in any way is not only discriminatory but bad for business and bad for the industry. Assumptions about single women must also be avoided - it could be an area that requires some more education."
He said First National Real Estate expected the number of single female home buyers to increase from 18 per cent to more than 20 per cent in the next five years, as the trend firmed.