Latest Posts

New cannabis bill could see construction taking the high road

The proposed amendments to the Cannabis for Private Purposes bill that seeks to further decriminalise cannabis usage and legalise South…

Read More..

A root cause of flooding in Accra: developers clogging up the city’s wetlands

Christopher Gordon, University of Ghana Ghana has six designated Ramsar sites. These are wetlands designated under the criteria of the…

Read More..

Nigerian property crime could be reduced if neighbourhoods were better designed

Adewumi Badiora, Olabisi Onabanjo University Nigeria has a very high crime rate. The Global Peace Index ranked it the world’s…

Read More..

Inner cities are growth engines attracting young homebuyers

Inner city living is boosting the city residential property market and driving urban rejuvenation Inner cities. Love them or hate…

Read More..

Kenya’s push for affordable housing is creating opportunities despite barriers

Raphael M. Kieti, University of Nairobi; Robert W. Rukwaro, University of Nairobi, and Washington H.A. Olima, University of Nairobi In…

Read More..

Heron IVC: Walking the green talk

Waterfall is closing the loop on waste Waterfall prioritises sustainability and responsible environmental stewardship as a strategic imperative, keeping the…

Read More..

Italtile unpacks new Nordic wood looks

Introducing Helsinki EcoWood by EcoCeramic Ceràmica. Right now, the hybrid Japandi trend is rising fast, with its calming combination of…

Read More..

Flagstaff Square sets a new standard for rural retail

Flagstaff, located in the OR Tambo district in the Eastern Cape, began its existence as a trading post and essentially…

Read More..

8th Jun 2022

Architect Africa Online

Africa's Leading Architecture Aggregator

From influencers to purchasers, millennial women dominate property

Where women have long been the primary influencers in property purchasing decisions, they are now not just confident purchasers of their own residential homes but are increasingly building property portfolios, says Chrissie Johnson, customer relationship manager for Seeff North Coast.

Chrissy Johnson Seeff North Coast

Statistics from Seeff’s mortgage originator, further shows that there are more single women compared to men in their twenties purchasing property. The data shows a nearly 400% jump from the 21-25 age group to the 26-30 age group, with sales to women peaking in the 31-35 age bracket.

After that, there is a gradual decline in the single name purchases as women get older. This means that it is predominantly millennial women who are purchasing. The older group statistics reflect a pattern of joint property purchasing when earnings rise, marriage occurs and when housing a family in larger sized properties with safe outdoor spaces.

Mrs Johnson says that young professional women are taking advantage of the low interest rate environment and while there has been a marginal 1.8% drop in female loan applications this year, female applications continue to outstrip that of male applicants.

The substantial increase of women in the workforce over the past three decades has seen their role progress from being influencers in the decision-making process of high-value purchases to now being rightful buyers in their own capacity.

Data from the National Association of Realtors in the USA show that women now control 80 percent of consumer purchases, they direct 91 percent of housing decisions and guide 94 percent of home furnishing choices.

Women’s role in the property sector is also varied, from a student looking for student housing options to a working woman looking for a rental home or a single mother looking for the security of her own home. Data also shows that there are an increasing number of female buyers in their twenties.

Women are increasingly looking to build wealth early and view a property purchase as an important aspect of securing their future, says Mrs Johnson further. The work from home trend has further boosted demand for homeownership among females, especially those who have taken the opportunity to start their own small businesses or who are in an entrepreneurial or professional role.

The post From influencers to purchasers, millennial women dominate property appeared first on Everything Property.

Syndicated content from Everything Property


Banner image by PXFuel

error

If you find this website useful please spread the word.

RSS
Follow by Email
WhatsApp