Property price surge has widened the gender pay wealth gap, says Corelogic

With International Women’s Day here, new CoreLogic numbers show that women continue to be underrepresented in the property market, contributing further to the current gender pay wealth gap.
In short, CoreLogic findings show that women still have less overall share of property ownership than men.
The stats show that in the 12 months to January 2022, the total value of Australia’s residential market increased from just over $7 trillion to $9.7 trillion. This leaves women disadvantaged due to the percentage difference between female property ownership (26%) and male property ownership (29.9%) recorded in January of this year.
CoreLogic International GM Financial Services and Insurance Solutions, Milena Malev said that “given there’s a high level of equity held in real estate, if you don’t own property, that’s a big source of household wealth and security you don’t have access to.”
Investment property at centre of gender wealth gap in real estate
CoreLogic Australia’s Head of Research, Eliza Owen explains that around 70% of the discrepancy between male and female residential property ownership is explained by the higher percentage of investment properties owned by men.
CoreLogic statis show that men own 36.4% of all investment properties nationally, while women only own 29.1%. The difference in these percentages amounts to over 105,000 additional investment properties owned by men than women in Australia.
Furthermore, CoreLogic’s 2022 Women and Property Report found that Australian men are more likely to own houses and women to own units. According to Owen, this leaves women at a disadvantage because “detached houses generally accumulate more value over time than units” and this means that “house owners accrue a lot more value over time compared to unit owners'.”
The gender pay gap and its implications
In addition, the gender pay gap saw an increase from 13.4% in November 2020 to 13.8% in November 2021. Malex explains that “the current discrepancy in incomes between men and women would see men save a 20% deposit for the current median dwelling value around a year faster than women.”
On a more positive note, CoreLogic has found that Australian women are gradually narrowing the property gender gap. This is seen by the increase in percentage of property purchased by women slowly increasing over time. In 2019, women purchased 27.3% of property, compared with 29.3% in 2021. According to Owen, “this positive trend may start to reflect greater gender parity in home ownership overtime.”
If you are looking to break into the property market to buy a home, have a look at our home loan comparison page to get a better view of current home loan rates.
Home Loans - last updated 3 December 2023
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Mozo experts choice awards won:
- Low Cost Home Loan - 2023
Variable Home Loan 90
Principal and Interest, LVR <90%
interest rate
comparison rate
Initial monthly repayment6.04% p.a. variable6.06% p.a.Affordable home loan rate for buyers or refinancers. No monthly or ongoing fees. Option to add an offset for 0.10%. Access to savings with unlimited redraws available. Minimum 10% deposit required. Advertised rates include Nov RBA rate increase. T&Cs apply.
CompareCompareVariable Home Loan 90
Affordable home loan rate for buyers or refinancers. No monthly or ongoing fees. Option to add an offset for 0.10%. Access to savings with unlimited redraws available. Minimum 10% deposit required. Advertised rates include Nov RBA rate increase. T&Cs apply.
- interest rate
- 6.04% p.a. variable
- comparison rate
- 6.06% p.a.
- interest rate
- 6.04% p.a. variable
- comparison rate
- 6.06% p.a.
- upfront fees
- $530
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the loans.com.au Variable Home Loan 90
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Mozo experts choice awards won:
- First Home Buyer Loan - 2023
First Home Buyer Loan Special
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.64% p.a. variable6.67% p.a.A low variable rate loan for home buyers. No establishment or ongoing fees to pay. 100% offset account included. Allows for unlimited repayments, redraws and flexible repayment options.
CompareCompareFirst Home Buyer Loan Special
A low variable rate loan for home buyers. No establishment or ongoing fees to pay. 100% offset account included. Allows for unlimited repayments, redraws and flexible repayment options.
- interest rate
- 6.64% p.a. variable
- comparison rate
- 6.67% p.a.
- interest rate
- 6.64% p.a. variable
- comparison rate
- 6.67% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - fees apply
- Offset account
- yes
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- -
- maximum borrowing amount
- $5,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
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- Owner Occupier
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- Weekly, Fortnightly, Monthly
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- Special Offer Variable Rate available for a limited time.
Read our Mozo Review to learn more about the G&C Mutual Bank First Home Buyer Loan Special
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Basic Home Loan Special Offer
Owner Occupier, Principal & Interest, LVR 80-95%
interest rate
comparison rate
Initial monthly repayment6.69% p.a. variable6.70% p.a.CompareCompareBasic Home Loan Special Offer
- interest rate
- 6.69% p.a. variable
- comparison rate
- 6.70% p.a.
- interest rate
- 6.69% p.a. variable
- comparison rate
- 6.70% p.a.
- upfront fees
- $100
- Ongoing fees
- $0.00
- Discharge Fee
- $350.00
- Extra repayments
- Yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- Receive $2,000 refinance cashback, min loan size of $250,000 and LVR less than or equal to 80% (excludes refinances from Westpac Group), apply by 30 November 2023 and settle by 31 March 2023.
Read our Mozo Review to learn more about the St.George Basic Home Loan Special Offer
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FHBG Special Offer Classic Home Loan
interest rate
comparison rate
Initial monthly repayment6.24% p.a. variable6.26% p.a.CompareCompareFHBG Special Offer Classic Home Loan
- interest rate
- 6.24% p.a. variable
- comparison rate
- 6.26% p.a.
- interest rate
- 6.24% p.a. variable
- comparison rate
- 6.26% p.a.
- upfront fees
- $195
- Ongoing fees
- $0.00
- Discharge Fee
- $530.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $800,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the QBANK FHBG Special Offer Classic Home Loan
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
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