Single women's grip on the property ladder is becoming firmer as they snap up around one in seven pr...
Single women's grip on the property ladder is becoming firmer as they snap up around one in seven properties on the market, according to new research from Charcol.
The number of properties owned by Singletons is 52% higher than a decade ago, and is set to rise further in the next five years: Charcol projects single lending will progressively increase to 56% of all home loans.
According to the mortgage adviser, women continue to narrow the gap with men, as they earn higher wages and represent a larger share of the jobs market. The gap between male and female earnings has been narrowing over the last fifteen years. In 2000, the average full-time female employee earned 82% the salary of her male counterpart, compared to 74% in 1986.
The research also found that there are more female than male widows (12% vs 4%). Around 36% of single female homeowners are 'second-time-arounders' - that is, women who have re-entered the mortgage market alone after having owned jointly.
Women are also happier than single men to go solo [85% vs 78%], and they value the independence of owning alone more than men [78% vs 56%].
"Women simply don't need to rely on men to get on the ladder anymore - they are securing more jobs and being better paid than ever before, and have already overtaken men in higher education," says Ricky Okey, general manager of Charcol. "The independent culture has turned the old macho cliché on its head."
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From June 2019