Women seeking financial security through property

“The number of women who have taken out a first mortgage to buy their home on their own rather than with someone else increased by a remarkable 19% between July 2005 and July 2007,” says John Grant, director of national business, Wizard Home Loans. “But that was topped by a 26% increase in the number of women who own property investments by themselves.”

The research, entitled Women’s financial security and home ownership in New Zealand, highlighted women’s preference for property as an investment vehicle. Findings showed that nearly six in 10 (58%) of women feel that property is the highest returning investment, and half (49%) regard it as the safest option over cash and the share market.

Owning a home is one of the main financial goals for the great majority (78%) of women surveyed, particularly for those under 40 years old, who may not yet be homeowners.

However 41% of women believe that homeownership is out of reach, according to findings from Roy Morgan’s National Consumer Poll incorporated in the report.

Wizard has also launched a new interactive, online community called ‘Wizard Women’ coinciding with the report’s release. The platform includes property and personal finance information, case studies of success and articles about issues regarding women’s wealth.