New research shows property plays a central role in the wealth strategies of women surveyed across four countries.
Wednesday, March 7th 2007, 11:00PM
by The Landlord
In recognition of International Women’s Day, Wizard Home Loans commissioned a survey of 500 women (single and in relationships) who own homes in each of New Zealand, Australia, the UK and Canada asking their views on finances and on property.
Property is the preferred investment tool for women from all four countries. However, this is significantly higher amongst women surveyed from New Zealand (73%), Australia (71%), and the UK (70%).
In contrast, only 44% of the Canadian women surveyed said property is their preferred investment tool, with a much higher percentage preferring managed funds (21%) and retirement savings (27%) than women from the other countries.
Eighty-one per cent of Australian women surveyed say the housing market presents reasonable to excellent growth prospects; as do 76% of Canadian women; 75% of English women; and 71% of the New Zealand women surveyed.
National director of Wizard Home Loans John Grant says this confidence in the market flows through to women’s intentions to increase the number of properties they have.
“While it’s a stronger finding in the Southern Hemisphere, most women surveyed say they intend to grow the number of properties they own”.
“The key insight that the survey underlined is that regardless of whether she is a Kiwi, Australian, English or from Canada, her views on finance, what she’d do with her money, and the role property plays in her personal wealth are pretty similar on the whole,” says Grant.
“For example, on winning $10,000, most women surveyed from each of the four countries would put it towards their mortgage. Going on a holiday rated pretty low, ranging between 12 and 16% and only a very small percentage would spend their windfall on consumer goods,” he says.
As well, most women in relationships in New Zealand, Australia, Canada and the UK say they perform the financial management role in their household, the survey shows.
The finding was strongest in Australia with 81%, followed by New Zealand with 72%, next Canada with 70%, and dropping to 65% of the UK women surveyed.
“The research supports the view that women’s financial role in society has changed dramatically over the past few decades, not just in the workplace, but also in the home,” says Grant.
