Young females are making their mark when it comes to homebuying

Young female buyers are doing it on their own When it comes to homebuying, Mckinon says that many young women are opting to buy on their own.

“In recent years, we have noted a growing number of women choosing to prioritise their financial independence by investing in property in a trend commonly referred to as ‘houses before spouses’,” she says. “While this trend has been predominantly publicised in the US, it is reflective of female homebuying patterns on local shores too.”

This sentiment is underpinned in Lightstone’s 2024 data where women-only homeowners account for 38% (2,154,000) of the market, while women co-owning properties currently accounts for 33% (1,883,000). Conversely, men-only homeowners account for 29% (1,594,000) of all properties.

In addition, ooba Home Loan’s year-to-date data reaffirms the sentiment with 75% of females aged 18–25 applying for a home loan on their own. “This figure has climbed steadily from 69% in 2019 – a commendable 6% increase over four years.”

Mckinon adds that the marked increase in young, single female homebuyers may also indicate improved financial wellness, the prioritisation of savings among the next generation of homeowners and their strong desire to invest in property as a wealth-creation strategy.

Freehold property remains the top choice When asked what these hungry young investors are purchasing, Mckinon says that ooba Home Loan’s data shows preference for freehold properties by female homebuyers.

“Our data shows that 59% of first-time female homebuyers purchased a freehold title home with 65% of repeat female homebuyers indicating a preference for a freehold home rather than a sectional-title home,” she says.

“The remote work revolution has impacted on homebuyers’ purchasing decisions and has made freehold homes a popular choice. Homebuyers are rethinking what they want from a home, with key considerations including access to outdoor space and additional space to accommodate work from home.”

Other notable female homeownership trends In the younger age categories of 18–25 and 31–36, Mckinon points out that age and gender profiles are in fact mirrored.

"Female homebuyers aged 18–25 represent 3% of all home-loan applications received from women, while those aged 31–36 account for 24%. These percentages are identical for male homebuyers too," she notes, highlighting the increasing trend of financially independent young adults prioritising homeownership before marriage and starting a family.

Over the past five years, the average price paid by 18–25 year old female homebuyers has increased by a robust 31.7%. In contrast, for those 37 years or older, the average price is broadly unchanged – suggesting these homebuyers, many of whom are presumably parents and may have greater overheads, are exercising caution in their purchases at a time of elevated interest rates and subdued economic growth.

Investment properties popular with females The percentage of applications from female buyers for investment properties has risen across all age categories between 2019 (pre-Covid-19) and 2024 – with the highest growth in investment-demand registered from homebuyers aged 26–30 years (at 7.5% of total applications year-to-date – up from 2.4% of total applications in 2019).

Mckinon adds that investment into property by females aged 18–25 has also risen sharply from 2.5% in 2019 to 6.7% in 2024 (year-to-date). “Demand for investment properties is strongest among women aged 37 plus, increasing from 6.2% in 2019 to 10.6% thus far this year; this is close to the national average investment demand of 12.1%.”

“Property investment remains a popular choice – particularly for the younger homebuyer who chooses to use property as a wealth-creation strategy. Here, the buyer rents out the property so that the expenses are covered while they either rent themselves, live in another property that they own or live with family.”