While women have made extraordinary gains in terms of achieving equality with men, there is undeniably still a wealth gap between women and men. With residential real estate valued at $7.5 trillion in Australia and more than $1.3 trillion in New Zealand, CoreLogic has delved into our extensive property data universe to understand how this wealth is distributed.
Not surprisingly, in both countries we found higher rates of property ownership among men than women.
Our Women and Property: State of Play report explores these statistics in detail, highlighting factors that contribute to the overall gender wealth gap. These factors include individual and joint ownership patterns, state and area profiles, and correlation with salary levels.
Women of Influence: Property & Banking
A group of inspiring women come together to discuss the growing diversity that is occurring in a once male-dominated industry, and look at how influential female leaders in the property & banking sector are cultivating meaningful change for future generations.
Influential leaders on the podcast
- Lisa Claes, Managing Director, CoreLogic International
- Amelia Hodge, Chief Executive Officer, API
- Marie Mortimer, Managing Director, Loans.com.au
- Host, Milena Malev, General Manager of Financial Services and Insurance, CoreLogic Asia Pacific
NZ Property Market Podcast: Successful Women Industry Leaders
Nick Goodall hosts a special edition of the NZ Property Market Podcast to celebrate International Women’s Day by speaking to three very successful and influential female leaders in the property and banking industry.
Influential leaders on the podcast
- Simone Moors, Country Manager, CoreLogic New Zealand
- Debbie Mills, Tribe Lead, Home Ownership, Retail Banking, ASB
- Viv Gurrey, Chief Executive Officer, the Property Institute of New Zealand
Cities have higher rates of female property ownership than provinces
Kelvin Davidson, CoreLogic's Senior Property Economist dug deeper into the recent Women and Property: State of Play report. Kelvin found that in New Zealand, properties owned exclusively by females represented 20.3% while the remaining 56.8% of properties had mixed gender ownership.
There's no doubt that having a sufficient income is a fundamental driver of the ability to buy a property. The fact that females tend to earn 9.5% less than males will be at least part of the explanation. Our blog helps to explain how wealth accumulation is associated with property ownership.
Closing the gender property gap: why do fewer women than men own homes?
CoreLogic research has revealed a disparity in property ownership rates between the sexes. The research suggests that women are less likely than men to own property, which can impact their overall financial wellbeing and their ability to afford a comfortable retirement. So what factors cause this gender property gap, and how can women prepare for a better financial future?
Studies repeatedly show that achieving financial wellbeing is one of the keys to female empowerment. As well as improving the lives of individual women, it also has wide-reaching benefits for society and the economy. Yet even in relatively wealthy countries like Australia and New Zealand, women still haven’t reached financial equality with men.