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Single women take greater market share

THE number of single women becoming part of the real estate market are increasing, according to Acton Consolidated Central director Mark Anderson.

Mr Anderson said a greater proportion of single women were buying their first home than single men.

He said that between 1988 to 1998, Australian Bureau of Statistics figures showed that the proportion of single woman owning a home under the age of 35 increased from 5.6 per cent to 8.4 per cent – the biggest jump in any category of home ownership.

“Single woman are increasingly becoming important in the first home buyers market with the median age of a first home,” Mr Anderson said.

“The ABS figures underline the important social trends in our society with more woman earning higher salaries and able to buy a home their own home compared to a decade ago.”

More woman are also deciding to marry later in life and are buying their property first rather than waiting to start a relationship.

“This trend is highlighted by home purchase trends in city centre areas like Subiaco where an increasing number of single woman are deciding to buy a property rather than rent,” he said.

“Ten years ago, the vast majority of young woman living in the Subiaco area would prefer to rent a property. However, today an increasing number are deciding to buy a unit or villa.”

As a result, women now vastly outnumbered men in the demand for smaller type owner occupation in the Subiaco area, Mr Anderson said.

“The trend towards more affluent first home buyers is also highlighted by the ABS figures which show that 17 per cent bought higher density accommodation by the end of 1998 compared to around 14 per cent in 1988,” he said.

“There has also been a trend away from buying new properties in the outer suburbs towards buying established properties in the inner suburbs.”

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