The proportion of single home buyers has decreased, but gender parity among these buyers is on the rise, according to Ray White.
In 2014, singles accounted for 26.2% of home purchasers, a figure that dipped to 24.5% by 2022. This decline is led by a decrease in single male buyers, while single female purchasers have maintained a steady proportion, even witnessing an 11% increase in purchase volume since 2014.
From 2014 to 2022, single female purchases climbed from 64,680 to 71,900, outpaced only by the growth in property acquisitions by companies/trusts.
This rise reflects an increased awareness of homeownership’s role in wealth building and is likely influenced by government assistance programs for low to middle-income earners and the development of affordable housing options in central and fringe areas, said Nerida Conisbee (pictured above), chief economist at Ray White.
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Victoria leads with the highest proportion of single female buyers, while New South Wales ranks lowest, possibly due to its lower affordability. The data also pointed to a significant decline in single buyer numbers overall since 2014, with Victoria’s extensive development efforts providing more affordable housing options for single purchasers, Ray White reported.
The Melbourne CBD has seen the highest number of apartment purchases by single women since 2014, totaling 7,750. The Gold Coast, particularly Surfers Paradise, also ranks high on the list. For house purchases, the top 10 locations are all in Victoria, featuring both urban and regional affordable areas, with Mildura standing out among regional spots.
The shift in the number of single people purchasing homes was unveiled through an analysis using Valuer General data on sales, enhanced by Genderize, an AI tool for determining the likely gender of a name.
This method analysed more than 5 million transactions from 2014 to 2022. Despite limitations, such as the removal of full names in 2023 and the absence of first names in certain territories’ records, the analysis offers the broadest view yet of single female buyer trends in the Australian property market.
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