Despite Australia enduring an up and down property market at present, it seems women are bucking the trend and leading the way in the search for prime real estate.
Research from realestate.com.au has revealed women are the power players when it comes to the property purchasing process.
Figures show women are currently accounting for two-thirds of visitors to the website and 87% are searching the site for property a minimum of three times per week (1).
From teenage to the twilight years, the research unearthed five distinct consumer segments that demonstrate the prominent role women play as ‘buyers’ or ‘drivers’ in the Australian property market.
The survey of 1260 female ‘active’ property seekers using realestate.com.au found five female segments were esentially the leaders in online property searches and determining a list of properties for consideration.
The segments, made up of First Home Buyers (25%), Upsizers (22%), Downsizers (7%), Lifestyle Seekers (27%) and Investors (17%), not surprisingly found a quarter of female online browsers were looking for their first home.
The survey also found:
Affordability was a major issue for First Home Buyers, with 67% looking to purchase a home under the $400,000 price range.
Around one in five active female property hunters were looking to upsize to a bigger or better home (Upsizers). Most were living in metro areas, from middle to higher income households and searching above the $500,000 price range.
Downsizers were the smallest of the five segments, representing just 7% of active female property hunters. Almost half (46%) were visiting the site daily to search for their ideal property.
More than one in four active female property hunters were primarily seeking a new lifestyle (Lifestyle Seekers) in a new area (rather than a bigger/smaller home, or first/investment property). The majority of lifestyle seekers were searching for properties in the $500,000 to $750,000 price range.
Female investors represented 17% of the active buyers searching on realestate.com.au. Around half were looking at properties under $400,000, with almost half of respondents (49%) indicating using the site to find out the ‘sold’ prices of properties.
The survey also revealed these consumer segments demonstrated significantly different search behaviours, using a range of tools such as property websites, mobile search and telephone enquiry to progress their interest in a property.
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