Wage gap widens for women in property
New Zealand women remain under-represented in investment property ownership, with financial barriers rather than attitudes holding them back, according to new data from CoreLogic’ s fifth annual Women & Property Report.
The research found that women are more likely than men to own the home that they live in on their own, but men are more likely to hold investment properties.
One reason men are more likely to invest in property than women is that they earn more money. According to the report:
• 68 per cent of women earn less than $ 70,000 per year, compared to 49 per cent of men.
• 13 per cent of women earn more than $ 100,000, compared to 26 per cent of men.
The report also noted that women are more likely to buy in more affordable locations, while men have more diverse property portfolios, which tend to be more resilient in the face of economic downturns.
Those factors mean that women tend to build less long-term wealth through real estate than men.
LONG-TERM WEALTH DISPARITY
CoreLogic Chief Property Economist Kelvin Davidson said the investment property ownership gap between the genders reinforced the need for financial strategies that supported women’ s investment opportunities.
“ CoreLogic Chief Property Economist Kelvin Davidson said the investment property ownership gap between the genders reinforced the need for financial strategies that supported women’ s investment opportunities.”
Kelvin Davidson Chief Property Economist, CoreLogic New Zealand
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