Single women getting a foothold on the property ladder

When 27-year-old Ellen Taylor decided to buy her own home, she knew it was a bold but sensible decision.

“It gives me a sense of security and is very empowering. Depending on my income, I may look at getting something bigger in a few years and potentially renting this out down the line.”Single women like Ms Taylor are a growing force in the property market, with home loan applications among this cohort surging during 2022 and surpassing men, ME Bank’s analysis of customer applications shows.

“In this time, we’ve seen a greater percentage increase for female sole ownership applicants, and the approval rate for both male and female applicants, while similar, is slightly higher for women.” Latest figures from the National Housing Finance and Investment Corporation, and two participating lenders, CBA and NAB, found a majority of participants in the scheme were single female buyers.

Women are still earning 13.3 per cent – or $253.50 per week – less than men, the Workplace Gender Equality Agency says.

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