Pay gap challenge for NZ’s female property investors
As the world rallies behind the cause of gender equality, CoreLogic NZ Women & Property shines a spotlight on initiatives to empower women in real estate
As the world celebrates International Women’s Day, the unveiling of CoreLogic’s 2024 Women & Property report casts a sobering light on the gender gap in property investment.
In a nation where homeownership is a cornerstone of prosperity, the report reveals a stark reality: female-only real estate investors significantly lag their male counterparts in fast-tracking wealth creation through property.
Amid the vibrant tapestry of New Zealand’s home ownership landscape, the report’s findings stand as a testament to the challenges faced by women seeking to carve their path in the realm of property investment. While female-only owner-occupier rates boast a marginally higher figure than men, the gap widens when it comes to investment properties.
CoreLogic report author and chief property economist Kelvin Davidson, shed light on the multifaceted factors contributing to this gender divide. The gender wage gap, hovering around 9 percent, emerges as a formidable hurdle, hindering women from accumulating assets at the same pace as their male counterparts.
Furthermore, disparities in financial literacy compound the issue, tilting the scales of opportunity in favour of men.
Yet amid the bleak statistics, glimmers of hope emerge…
The report unveils pockets of progress, where female-only ownership rates surpass the national average. In Gisborne, Auckland, Wellington, and beyond, women are defying conventions and embracing the realm of property investment.
In the corridors of power and decision-making, calls for action resonate. Mr. Davidson emphasises the importance of understanding these dynamics to foster a more inclusive and equitable housing landscape.
Mr Davidson said tracking rates of home ownership across different segments of society is essential, as home ownership not only contributes to security of tenure but also enhances satisfaction with housing.
“Factors like the gender wage gap, estimated at around 9 percent, have been identified as potential contributors to the delay in women accumulating assets, especially when it comes to building a deposit for home ownership. Understanding these dynamics is crucial for addressing disparities and fostering a more inclusive and equitable housing landscape.”
As the world rallies behind the cause of gender equality, the spotlight shines brighter on initiatives aimed at empowering women in real estate.
A new chapter is hopefully unfolding in the narrative of women in real estate.
Armed with resilience and determination, women across New Zealand are reclaiming their space in the realm of property investment, paving the way for a future where opportunities know no gender.
On this International Women’s Day, let us not only celebrate the achievements of women but also reaffirm our commitment to building a world where every woman has the opportunity to thrive, flourish, and prosper in every facet of life, including real estate. For in the journey towards equality, every step, no matter how small, brings us closer to our shared vision of a better, more inclusive tomorrow.
To download a copy of the CoreLogic 2024 Women & Property report, visit www.corelogic.co.nz/news-research/reports/women-and-property-2024.
AccomNews is not affiliated with any government agency, body or political party. We are an independently owned, family-operated magazine.
