Where single women are buying property in Australia — and why their purchase power matters
Property buying patterns among single people are approaching gender parity, new data shows
Property buying patterns among single people are approaching gender parity, new data shows
More single Australian women are buying their own homes, with a report published by Ray White revealing 71,900 sales to this cohort in 2022, up from 64,680 sales in 2014. As a proportion of all single buyers, men have historically outnumbered women but the gap is closing with purchasing rates now closer to parity at about 12 percent of sales each.
Ray White chief economist Nerida Conisbee said rising home values meant the proportion of all single buyers was falling, from 26.2 percent of purchases in 2014 to 24.5 percent in 2022.
“An interesting dynamic, however, is also occurring by gender,” Ms Conisbee said. “A drop in single male purchasers is driving the decline whereas the number of single female buyers as a proportion of total buyers remains steady. By volume, the number of purchases by single women has risen by over 11 percent since 2014.”
Ms Conisbee said increased education about the importance of home ownership in building wealth and government schemes such as the First Home Guarantee and State Government stamp duty waivers and concessions have driven more women to buy. McGrath CEO John McGrath said the trend in career women buying property on their own began about two decades ago.
“When I started in real estate 40 years ago, it was very rare to conduct an auction and have a 28-year-old female on her own buy the property,” Mr McGrath said. “Nowadays when you put a well-located, beautifully designed apartment block on the market, the first 10 apartments will be sold to single career women.”
Ms Conisbee said most single women preferred to buy affordable apartments in central city locations.
“Overwhelmingly, the largest number of purchases are of units in areas where very large numbers of units are available. Topping the list nationally is Melbourne CBD where there has been 7,750 purchases of apartments by single females since 2014. The Gold Coast,however, has also made several appearances on the list with Surfers Paradise coming in second (3,386 purchases).”—
The data shows Victoria has the highest proportion of single female purchasers and NSW the lowest. Ms Conisbee said very high levels of development in Melbourne had given single women more opportunities to buy. Incidentally, greater supply in Melbourne is a key reason why median home values have not increased as much as other cities over the past year. CoreLogic data shows Melbourne home values have risen just 3.2 percent over the past 12 months compared to 9.6 percent in Sydney and 15.9 percent in Brisbane.
Single women seeking to buy a house also targeted more affordable city fringe and regional areas. The statistics was calculated using Valuer General data on more than five million sales from 2014 to 2022 and cross referencing first names using an artificial intelligence application called Genderize to deliver the largest research sample available documenting single female purchasing patterns.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
A rural retreat with a side hustle opportunity, Pecan Manor Farm near Byron is an idyllic slice of the tree change pie.
High in Byron Bay’s coveted hinterland there is a hidden estate with more than just a charming homestead on offer. Pecan Manor Farm is a 40ha parcel of lush rolling grounds with expansive grazing lands, a dam with a private pontoon – and a thriving pecan plantation.
The original homestead was first built and owned by the Toohey brothers, who later went on to establish the iconic Tooheys Beer Company. In 2013, the property was sold to the Hogan family, who significantly renovated the home. It changed hands again in 2021, with the current owners further transforming the property.
With sandstone features, manicured hedges and a meandering driveway through established trees, Pecan Manor Farm is, in a nut shell, an enviable tree change property only half an hour from one of Australia’s hottest beach getaways.
Listed with McGrath Byron Bay Agents Tezu Harrison and Nick Dunn, the unique property at 204 Tooheys Mills Rd, Nashua is on the market with price expectations of $8 million.
“It’s a beautiful pecan estate that is so private. You drive in through a pecan forest almost and arrive up to the top of the property to discover a completely renovated old school Federation home. It’s probably one of the most beautiful 99 acres I’ve ever seen, because there are so many different aspects to it,” Mr Harrison said.
Framed by some of the region’s most impressive scenery, the grand Nashua landholding is near Tintenbar, and is 18kms to Lennox Head or 25kms to the popular beaches of Byron.
Inside the large family-friendly home, the main wing houses a choice of everyday living spaces including an open plan dining and family room, the contemporary kitchen and a separate lounge or media room.
At the heart of the footprint, the kitchen has a suite of NEFF appliances and a freestanding island bench. Both the dining and lounge areas spill out onto a full-width deck, taking in the sweeping district views and pool.
While one bedroom has an ensuite and personal deck, it’s the main bedroom that is a retreat in every sense of the word. Separated via a gallery-style hallway, the primary suite is its own wing with a large deck, a bath ensuite overlooking the lush landscape, and a walk-in wardrobe.
Thanks to the multiple alfresco spaces, there is a place for everyone in all seasons, especially by the pool either on the timber sun deck or in the cosy cabana complete with its own fireplace.
Guests can stay with plenty of privacy in the freestanding barn, or the extra self-contained space could be used as a short term rental or office generating additional income. Aptly named The Barn, this bonus accommodation features a full kitchen with breakfast bar, a bathroom, living area and separate bedroom.
Throughout the home there are high ceilings, timber floors, intricate chandeliers, ducted air-conditioning. The property also has six large machinery sheds, offering ample scope for further agricultural pursuits.
Flowing along the property’s edge, Skinners Creek further sets the scene, while the location delivers the best of both worlds – Tintenbar General Store and local school are just 10 minutes away, while the popular Harvest Newrybar café is a 15-minute drive with Lennox Head and Ballina/Byron Airport also easily accessible.
Pecan Manor Estate is listed with Tezu Harrison on 0448 000 234 and Nick Dunn on 0448 301 111 of McGrath Estate Agents Byron Bay and is on the market with a price guide of $8 million.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.