Australian women are more likely to own their home than men despite the pay gap. Overall, 60% of Australian women own their home either with a mortgage or debt-free, compared with 56% of men, according to ABS figures. Among the under-35s, 27% of women and 21% of men own their home. EY chief economist Jo Masters says the figures are surprising given women earn less than men. The trend for younger women to be home-owners is evidence the figures aren’t skewed by divorce or by women outliving their partners.
“It might be about women being somewhat more risk-averse and more conservative in their spending,” Masters says. “Women over time have proven to be good budgeters.”
However, Masters says men are more likely to invest in shares and notes that the Household Income and Labour Dynamics in Australia (HILDA) survey found women have lower financial literacy than men.
Home ownership is higher for women than men in all age groups up to age 65 and women also tend to pay off their mortgages earlier, the ABS figures suggest.