Financial inequality continues to shape property access, with new analysis revealing younger women are delaying home ownership due to persistent income disparities.
Cotality research highlights that upfront housing costs disproportionately impact women, particularly as the gender pay gap remains entrenched.
Twenty nine percent of women surveyed say upfront costs are a major hurdle that is delaying their first home purchase. More than half, 56%, identify upfront expenses as the primary obstacle to entering the market. These findings underline ongoing disparities in financial capacity.
The gender pay gap remains significant. For every dollar earned by a man, women earn 79 cents. That difference equates to approximately $28,356 per year on average. Over time, this earnings gap reduces savings capacity and slows deposit accumulation.
Cotality Australia chief commercial officer Lisa Jennings notes that saving for a deposit has become substantially more difficult for young women navigating lower average earnings, career breaks and rising living costs. Mortgage eligibility presents another barrier, with one in five non-owners reporting they cannot qualify for a loan.
Structural income differences intersect with rising property values, compounding affordability challenges. When median dwelling prices approach $897,000 nationally, deposit requirements become substantial. For women earning below male counterparts on average, the timeline to reach that target inevitably extends.
The survey findings emphasise the need for coordinated solutions. Jennings argues that governments, industry and employers must work together to remove barriers and provide targeted support so women can enter the market with confidence.
Beyond individual outcomes, the broader economic implications are notable. Property ownership remains a key pathway to wealth accumulation and retirement security. Delays in entering the market can have long term financial consequences.
Addressing this divide requires policy consideration, flexible employment structures and potential deposit support initiatives. While market forces cannot resolve income disparities alone, recognising the structural imbalance is an important step.
Housing affordability debates often focus on supply and demand. However, income distribution and financial equity are equally relevant components. Without meaningful progress on wage parity, housing access for many women will remain more challenging than for their male counterparts.
The data reinforces a simple reality. When earnings are 21% lower on average, saving for a deposit in a rising market becomes materially harder. Bridging this gap is not only a social objective but an economic one.
