More single women are applying for mortgage in Australia.
It is normally expected for couples starting a family to apply for mortgage but the latest statistics show that women don't have to wait to get married to decide to get a home. According to Domain, the new data shows that there has been a sharp increase in mortgage applications by single women. Surprisingly there are instances where there are more single women applying for mortgage than men.
According to the real estate website, Miss Anderson put herself back on the market after a break up not for a new relationship but to get a home and she said that it was the best decision. She said, "You're parting with money, but not to pay off someone else's house. It gives you that sense of independence to be able to know you can do things by yourself and you don't have to rely on someone else."
To be more specific, in 2015, statistics show that female mortgage applicants account for the 11.22 percent (or 11,776 women) of the total applications through the 20 lenders of Aussie Home Loans that includes four big banks. On the other hand, the single male applicants were only 1,178 more, comprising the 12.34 percent of total applicants.
The gap between male and female applicants was significantly narrower last year compared to two years ago when male applicants were 2,000 more than the female applicants. In 2012, the gap was 4,000. According to the Aussie Home Loans chief executive James Symonds, the lending was based on numbers, saying, "Maybe 30 years ago it was different but it's 2016 - it's based on your financial merits, not upon your gender."
According to a member of the research group at Swinburne University's Institute for Social Research Andrea Sharam, single women are not concerned about investing in a house whether they get a partner or not. Investing in real estate is something that either men or women can participate in.
