Women Missing Out

The gender pay gap means younger women are delaying trying to buy their first home.

Analysis by Cotality shows upfront costs hit women harder as the gender pay gap persists, with 29% of women saying it is a major hurdle and means they are delaying buying a home.

More than half the women surveyed (56%) say upfront costs are the main obstacle to them buying. The report says this underscores the “persistent gender gap in financial security and savings capacity” that women buyers face.

It says the gender pay gap equates to every dollar a man makes equalling 79 cents for women, which equates to about $28,356 a year on average.

Cotality Australia chief commercial officer Lisa Jennings says saving for a home deposit has become significantly harder for many young Australian women, particularly as they navigate lower average earnings, career breaks, and rising living costs.

The survey says mortgage eligibility is another hurdle, with a fifth of non‑owners saying they cannot qualify for a loan.

“If we want property ownership to remain an achievable goal, it’s critical that governments, industry, and employers work together to remove the barriers and provide targeted support that helps women enter the market with confidence,” she says.