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

Monika Gudova

16 Nov 2018

People women couple with laptop on couch content

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.

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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.

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  • loans.com.au
    Mozo Expert Choice Badge" style="width:60px;">

    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

    1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR

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

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    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. Winner of two Mozo Expert's Choice Award for 2021.

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

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    • $520

    • $0.00

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    • 80.00%

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  • UBank

    1.75% p.a.
    fixed 3 years

    2.22% p.a.

    $1234

    Product details Close details
    UHomeLoan

    Owner Occupier, Principal & Interest

    1.75% p.a.
    fixed 3 years

    2.22% p.a.

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

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    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    • 1.75% p.a.
      fixed 3 years

    • 2.22% p.a.

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    • yes - free up to $20,000 p.a.

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    • 80.00%

    • $100,000

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  • Macquarie

    2.09% p.a.
    fixed 3 years

    2.43% p.a.

    $1234

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    Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    2.09% p.a.
    fixed 3 years

    2.43% p.a.

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

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    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

    • 2.09% p.a.
      fixed 3 years

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  • Athena
    Mozo Expert Choice Badge" style="width:60px;">

    2.19% p.a. variable

    2.19% p.a.

    $1234

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    Celebrate Variable Home Loan

    <60% LVR, Owner Occupier, Principal & Interest

    2.19% p.a. variable

    2.19% p.a.

    Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.

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    Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.

    • 2.19% p.a. variable

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    • yes - free

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  • Tic:Toc

    1.89% p.a.
    fixed 2 years

    2.15% p.a.

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    Fixed Home Loan

    Owner Occupier, Principal & Interest

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    fixed 2 years

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^See information about the Mozo Experts Choice Home loans Awards