More same-sex home borrowers in the property market, according to Aussie

Monika Gudova

16 Nov 2018

redactor/hero-images/466/people-women-couple_with_laptop_on_couch_content.jpg

The number of same-sex couples buying homes together with joint mortgages is on the rise, according to Aussie Home Loans, particularly among female couples.

The data showed that female partners are more likely than men to take out a joint loan, with the number of loans taken out by women growing from 50% of all same-sex joint loans in 2014, to 55%.

Aussie CEO James Symond has predicted that the number of same-sex loans will continue to grow in light of recent developments in favour of same-sex marriage.

“We are delighted to be providing more loans to same-sex joint applicants, whether they are couples or singles partnering up,” he said.

“I expect to see significant growth from these customers for years to come thanks to the legislation of same-sex marriage.”

The research found that about half (45% female, 59% male) of the same-sex partners with a joint loan were married or in a defacto relationship, the other half Symond suggests could be “savvy singles - and in particular women - who are looking to join forces to get a foot on the property ladder.”

Another finding from the data was that the top Australian suburbs for these home-buying couples were all within NSW and Victoria.

“Melbourne’s Yarraville, Craigieburn and Brunswick are Australia’s top three suburbs for joint female loans while Sydney’s Redfern, Surry Hills and Newtown are the most popular for joint male loans,” Symonds said.

RELATED: All big 4 banks hike home loan rates - is now a good time to refinance?

According to the research, the average age of these borrowers was 41 years old for women, and 38 for men. Also notable is the gap between average loan sizes, where male couples borrow more than their female counterparts, with an average loan size of $337,182 for men, and $316,405 for women.

Symond noted the clear disparity between men and women in the property market, which he put down to the pay gap between genders.

“Our data shows the average individual income for single male customers is 17 per cent higher than single females, and 12 per cent higher for joint same-sex customers,” he said.

“That’s not an insignificant amount, and could ultimately be the cause of women’s delayed entry into property.”

Buying a home as a couple is a big step - one that you need to be prepared for. Our first home buyers guide will help answer any questions you may have, and when you’re ready, head over to our home loan comparison tables to compare low rates and handy features, or check out some great options below.

Find a home loan

Rates updated daily. Advertiser disclosure.

  • loans.com.au

    1.99% p.a.variable for 12 months and then 2.48% p.a. variable

    2.47% p.a.

    $1234

    Product details Close details
    Smart Booster Home Loan

    A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.

    • 1.99% p.a.variable for 12 months and then 2.48% p.a. variable

    • 2.47% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • Optional - with 0.10% additional interest

    • $520

    • 80.00%

    • $50,000

    • $1,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Smart Booster Home Loan

  • UBank
    Mozo Expert Choice Badge

    2.34% p.a. variable

    2.34% p.a.

    $1234

    Product details Close details
    UHomeLoan - Discount Offer

    Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.

    • 2.34% p.a. variable

    • 2.34% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 80.00%

    • $100,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the UHomeLoan - Discount Offer

  • Athena
    Mozo Expert Choice Badge

    2.19% p.a. variable

    2.19% p.a.

    $1234

    Product details Close details
    Celebrate Variable Home Loan

    Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^

    • 2.19% p.a. variable

    • 2.19% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 60.00%

    • $100,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Celebrate Variable Home Loan

  • Virgin Money

    2.04% p.a.
    fixed 2 years

    2.79% p.a.

    $1234

    Product details Close details
    Special Offer Reward Me Fixed Rate Home Loan

    Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.

    • 2.04% p.a.
      fixed 2 years

    • 2.79% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - up to $10,000 per annum

    • no

    • no

    • $450

    • 80.00%

    • $300,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 cashback for new borrowings of at least $300,000 with applications made by 22 Jan 2021 and settled by 23 April 2021.

    Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan

  • Macquarie

    2.09% p.a.
    fixed 2 years

    2.56% p.a.

    $1234

    Product details Close details
    Basic Home Loan

    Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.

    • 2.09% p.a.
      fixed 2 years

    • 2.56% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • $0

    • 80.00%

    • $150,000

    • $750,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    Read our Mozo Review to learn more about the Basic Home Loan

^See information about the Mozo Experts Choice Home loans Awards