Latest / Best of Business / Kelvin Davidson: CoreLogic Chief Property Economist on the connection between the gender pay gap and home ownership

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Kelvin Davidson: CoreLogic Chief Property Economist on the connection between the gender pay gap and home ownership · Best of Business

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  Speaker 1: You're listening to a podcast from News Talk ZEDB. Follow
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  Speaker 2: New figures show more women own their own homes than men.
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  Speaker 2: Core Logics twenty twenty five Women and Property report shows
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  Speaker 2: twenty three percent of women had sole ownership of a property,
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  Speaker 2: compared to twenty point nine percent for men. Mixed gender
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  Speaker 2: ownership presumably married couples was fifty six percent. Calvin Davidson's
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  Speaker 2: their Core Logic chief property economist. He's with me, Hi
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  Speaker 2: Calvin good Good to be on the show. Did that
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  Speaker 2: number surprise you? And what's behind it? Do you know?
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  Speaker 3: No? I mean the number didn't really surprise me. I
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  Speaker 3: suppose the number we've been probably highlighting a little bit
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  Speaker 3: more as a female deficit. I guess when it comes
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  Speaker 3: to investment property, so great, females own a proportionately higher
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  Speaker 3: number of owner occupied properties, but there is also a
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  Speaker 3: deficit when it comes to investment properties, and that's sort
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  Speaker 3: of the number we've been highlighting. I think is when
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  Speaker 3: you boiled through all the numbers, what you really come
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  Speaker 3: down to is the gender age cap in the fact
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  Speaker 3: that females unfortunately do earn less for similar jobs, that's
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  Speaker 3: probably holding back their investment into properties, so something needs
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  Speaker 3: to be looked at.
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  Speaker 2: Maybe it's because more of them own their primary home though.
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  Speaker 3: Yeah, well, to some extent, the underlying some of that
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  Speaker 3: owner occupier number will be also an affordability challenge in
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  Speaker 3: the sense that we're seeing more apartments being owned by females,
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  Speaker 3: so that I think, even though the overall owner occupier
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  Speaker 3: share is a little bit higher, when you dig into
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  Speaker 3: the types of properties that come in there, they are
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  Speaker 3: perhaps a little bit smaller, cheaper. That's where the affordability
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  Speaker 3: challenges come in. So yeah, digging into the numbers does
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  Speaker 3: I think still reveal some challenges.
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  Speaker 2: You mentioned that women don't own as many rental properties
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  Speaker 2: do they want to?
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  Speaker 3: Yeah, well, that's certainly what's coming through. We've also revealed
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  Speaker 3: some survey based data this year which is new to
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  Speaker 3: the previous reports we've done, and yes, certainly the added
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  Speaker 3: are there. A very similar proportion of females report home
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  Speaker 3: ownership or property ownership in general is very important, the
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  Speaker 3: very similar proportion to males. So the attitude is definitely there.
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  Speaker 3: So then you start to dig into the numbers and say, well,
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  Speaker 3: the attitude is there. Was not coming through them. They're
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  Speaker 3: in results and nothing really have to come down to
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  Speaker 3: financial resources come down to those lower incomes. That gender
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  Speaker 3: wage gap and again a policy area that we need.
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  Speaker 2: Yeah, but I mean, is it the gender wage gap?
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  Speaker 2: Because I was thinking about this and I think just
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  Speaker 2: in my own life about girls and women that I'm
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  Speaker 2: friends with, more often than not they go to university.
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  Speaker 2: My male friends are more inclined to go into a
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  Speaker 2: trade they're earning them. Guys are earning money from a
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  Speaker 2: younger age. We know that women are more likely to
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  Speaker 2: go to university, therefore delaying their earning potential, and then
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  Speaker 2: evernal property is obviously going to be a long way
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  Speaker 2: off that. Have you taken these types of things into
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  Speaker 2: a consideration, Well, I.
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  Speaker 3: Mean, the gender wage gap does take into account different
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  Speaker 3: MIxS of employment, different mix of education, and that sort
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  Speaker 3: of thing. In the sense that gender wage gap looks
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  Speaker 3: at the genders and similar jobs and simply when you
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  Speaker 3: see females doing a similar job to males but being
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  Speaker 3: paid less. So that's the sort of gender wage gap. Now,
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  Speaker 3: it's not the only explanation. As you live, it doesn't
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  Speaker 3: explain everything. I think there's a little bit of evidence
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  Speaker 3: coming through in the survey that perhaps it is to
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  Speaker 3: do with understanding of the property buying process for example.
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  Speaker 3: So there's perhaps hints and here of anything that we
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  Speaker 3: can do to educate both males and females really about
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  Speaker 3: the difficulties of buying property in the process that's required
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  Speaker 3: that will help as well. So those things help, but
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  Speaker 3: I think generally you would really come down to financial
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  Speaker 3: resources as being a key factor here and something. Now
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  Speaker 3: unfortunately through time that females lag behind on that. So
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  Speaker 3: it's a lingering a show. I guess that's the policymakers
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  Speaker 3: to really be looking at all.
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  Speaker 2: Right, Calvin, thanks for your time. We'd love to know
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  Speaker 2: what people think. That's Kelvin Davidson, Logic, chief Property Economists
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  Speaker 2: with us here on news Talk. Semb nine to ninety
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  Speaker 2: two is a number to text. If you're a woman
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  Speaker 2: listening to this and you've got your own home, well congratulations,
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  Speaker 2: you're actually doing better than men. And when it comes
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  Speaker 2: to home ownership, this is owner occupied homes only. But
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  Speaker 2: i'd love to know did you want your own home
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  Speaker 2: from a young age? Did you set that was that
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  Speaker 2: you're objective? And men? What's going on? Why aren't you
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  Speaker 2: up there with the women.
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