Young women giving up on home ownership as costs rise
Young women view homeownership as less of a priority than men their age; Many cite affordability and inability to qualify for a mortgage as major barriers.
Women in both the Millennial and Gen Z age groups view owning property as less important than men, according to data firm Cotality’s sixth annual Women and Property Report.
Less than 40 percent of Gen Z women born between 1997 and 2012 think property ownership is extremely important, compared to almost half of Gen Z men.
There was a similar divide among millennials (those born between 1981 and 1996); While 58 percent of women considered owning property extremely important, this rate was 67 percent for men.
The data suggests affordability pressures could reshape long-held desires, particularly among young women who face greater difficulties building the savings needed to enter the property market, said Gerard Burg, head of research at Cotality Australia.
“These findings raise important questions for policymakers, industry leaders and financial institutions about how young Australians, particularly women, can be better supported to own property if it remains a national goal,” he said.
“Women’s desire to own property is also constrained by the widening gender pay gap throughout their careers.”
This, with affordability worsening across the country in 2025 despite three rounds of rate cuts, separate research shows just how steep the barriers to entry have become for first home buyers.
According to Domain’s First Home Buyer Report 2026, entry-level home prices have increased by 68 percent nationwide; This more than tripled the 21 percent increase in wages for the year.
“We’re creating a wave of generations who won’t be able to buy a house,” Nicola Powell, Domain’s head of research and economics, told AAP.
“For some, this is a dream they thought would never come true.”
Across the capital cities combined, repayments on entry-level homes consume almost half of a typical young couple’s income; It’s up almost 24 percent over five years, well above the 30 percent mortgage stress benchmark.
Importantly, these figures are based on dual-income households.
The deposit barrier and service burden are often significantly higher for women trying to enter the market on a single income.
The gender pay gap accelerates throughout a woman’s working life, peaking in her late 50s, leaving female workers millions of dollars less than men over the course of their careers, according to a 2025 report from the Workplace Gender Equality Agency.
The gender pay gap becomes 1.1 percent in favor of men between ages 20 and 24, and then rises significantly to 31.4 percent between ages 55 and 59.
This amounts to a difference of almost $53,000 in the average total wage of men and women.
Upfront and ongoing costs, including deposits, stamp duty and processing fees, are key barriers for potential buyers, with challenges disproportionately affecting women.
Cotality chief commercial officer Lisa Jennings said despite the changing attitudes of younger generations, property ownership still supported financial security, prosperity and long-term opportunities.
“Saving for a house deposit has become significantly more difficult for many young Australian women, particularly as they face lower average earnings, career disruptions and rising costs of living,” she said.
“If we want property ownership to remain an achievable goal, it is critical that governments, industry and employers work together to remove barriers and provide targeted support to help women build savings and enter the market with confidence.”
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