Pride and empowerment. That is how two Bay of Plenty women have described what it feels like to own their own homes. It seems when it comes to property, women know what they want. Zoe Hunter talks to experts about the strengths women are bringing to the market and why
Men or women: Who owns more property in the Bay of Plenty?
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CoreLogic's 2022 Women and Property report for New Zealand and Australia showed the proportion of property owned by women was 22.8 per cent compared with 21.1 per cent for men.
The report, released on International Women's Day on March 8, showed the proportion of property with a sole female owner was 19.4 per cent compared with 17.9 per cent owned solely by men.
The proportion of property owned jointly by males and females in the Bay was 56.2 per cent.
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Chris Slipper secured the keys to her first home with her partner Janelle two years ago.
The pair were living in Auckland and had the opportunity to house sit for her partner's parents in Waihi Beach.
"That kind of led us to move further down here to Tauranga."
After getting a taste of life by the beach " we went from wanting to go clubbing every weekend to wanting to start a family".
The pair saved up for fertility treatment to be able to have their first child - a son Phoenix who is now 4-and-a-half years old.
Next, it was time to buy a house.
"We looked into it and everything we could afford was either not in a good area or not in a good state."
Slipper said the only path on to the property ladder was through KiwiBuild and they soon found a two-bedroom home in Ōmokoroa to call their own.
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"Everything we had went into this house. We had not a cent left after we sorted out the mortgage."
In the last two years, Slipper has also been diagnosed with systemic scleroderma, which is an auto-immune disease that involves chronic hardening and tightening of the skin and connective tissues. It can cause problems in the blood vessels, internal organs and digestive tract.
"Having this house is even more important to me as a mum, that when my time is up my family are set.
"It's the property ladder of preparing for the future."
Slipper still remembers the feeling she got when she stepped foot in her own home for the first time.
"It was pride. I still feel that today. When I pull up in this driveway every night I know that this is mine. I worked for this.
"It just feels nice to have... our place."
She said she was "100 per cent" glad the pair bought when they did.
"I wouldn't change it for the world. For us, it was the right time. The price we paid for our property we would never pay that again for anything now. We got very lucky."
Slipper said women's approach to the property journey was about "looking for their nest".
"For a woman, I think it's having that sense of security, ownership, and belonging.
"You've got to think back, not too many years ago we weren't allowed to own property. Our husbands had to or we missed out.
"That in itself is quite a step."
Her advice to other women in search of their own property was: "Don't give up".
"Find a way to make it happen. You might not get what you dreamed of... but you'll get something that's yours."
'Empowering'
A Tauranga real estate agent's quest to build her property portfolio has given her an appreciation for the "emotional" yet "empowering" journey of securing the keys to a home.
Charlotte Gardner from EVES Papamoa owns two investment properties - one in Mount Maunganui and another in Taupo. They are the first properties she has owned on her own.
Gardner said owning property was "empowering".
"I am a pretty independent person. I work hard so it's nice to be able to see the fruits of your labour and know you're making a solid contribution to your future and setting yourself up for the long term. Short term pain, long term gain."
As an expert in the industry, Gardner said she knew what curveballs to expect before they hit.
"In saying that, with my Mount property, I had to go through the auction process like everyone else and sometimes as a real estate agent looking to purchase personally, that can come with other challenges.
"It is also hard to not connect yourself emotionally to a property and there is that risk of missing out at auction. Emotionally you do go on a journey."
Buying property in a partnership was often a collaborative effort between men and women, she said.
"But I do often find a lot of the time the women do have the final say. Women perhaps become a bit more emotionally attached to property, while men are possibly more pragmatic, but you do get variations to that rule as well.
"It's interesting to see the dynamic. There is certainly a strength in women in terms of the decision making."
Gardner said the biggest challenge was squirrelling away a deposit.
"A property is never going to be cheaper than it is today. The sooner you can get on to the property ladder, the better.
"It's very easy to get carried away with a wish list that might supersede what your budget's going to allow. You just have to strip back the emotion and allow yourself to just get a foot in the door."
Women 'know what they want'
The latest CoreLogic data showed the Western Bay of Plenty had an average property value of $1,067,754, Tauranga City recorded $1,178,811 and Rotorua $741,098.
CoreLogic chief property economist Kelvin Davidson said the overall exclusively female ownership rate in the Bay of Plenty was lower than the national average of 23.5 per cent.
Davidson said he suspected this reflected the affordability challenges in the Bay.
"Higher house prices, especially Tauranga, makes it harder to buy, if your income is lower, given the gender pay gap."
However, Davidson said it was interesting the Bay's female figure was still higher than their male counterparts.
"It's hard to be sure about why that's the case, but one possible factor could be the retirement aspect.
"Females tend to live longer, so the older demographics of Bay of Plenty probably creates a natural tendency for females to own more of the property (as males don't live as long).
"But that's by no means the full explanation."
Davidson said joint male and female ownership was highest in Tasman/Nelson, Otago and the Bay of Plenty.
"Within these areas are very expensive towns and cities, including popular retirement areas such as Nelson, Queenstown and Tauranga.
"High joint ownership rates may represent wealthier, retiring couples moving to these areas."
First National Real Estate Tauranga general manager Cameron Hooper said there was "no real trend" as to who owned what but women were more assertive in property negotiations.
"We do find the wife pushes the husband to bid a bit more at auctions.
"In some cases, we have seen women take over the negotiations when it has stalled. They know what they want."
Hooper said it was also nice to see the numbers were quite even.
"We talk about the pay gap between males and females and it is nice to see that is not reflected under property ownership."
Property Brokers regional manager for the Bay of Plenty, Simon Short, said: "Power to the women".
"The reality is transactions are led by women.
"Women have a tendency to be very thorough and quite pragmatic in what they are trying to achieve and less reactive."
Short said it was evident in the auction room this month when a couple was bidding on a property.
"The bidding paused and the man said, 'I've hit my budget' and the wife said, 'No you haven't, another $5000'.
"We made a joke that '[sorry sir we'll take your wife's word on this one'. It was a bit of fun."
Ray White Rotorua business owner and principal Jacqueline O'Sullivan said the statistics were not surprising.
"Over the decades, women have become more independent, are achieving in business and earning more so they are now more than ever in a position to have sole ownership of a property or any other asset."
O'Sullivan said women living longer, retirees moving to the Bay seeking lifestyle villages, and divorce often ending with the female keeping the home and the children, may help sway the statistics.
Harcourts Rotorua sales manager Michelle Matthews said it was "wonderful" women were empowered to be able to make owning property happen.
"It is great that women are in a financial position to do this, and supported by banks. Back in 1893, New Zealand was the first legally self-governed country to grant adult women the vote, we have come a long way and long may it continue.
"Let's hope that this trend continues in all walks of life, so we are truly equal."
Matthews said the majority of property was still held jointly by males and females, which showed the importance of "family values, commitment, and life in Aotearoa".
The Tauranga-based chief executive of mortgage brokers Mortgage Lab, Rupert Gough, said rising property prices meant not many people were buying on their own.
"It's couples mostly that we deal with. It has to be these days, you need that second income.
"It would be an upper-level income that could afford a standard house on one income."
Nationally, women exclusively owned 23.5 per cent of property versus 24.2 per cent owned by men, a difference of about 7600 properties.
CoreLogic New Zealand country manager Simone Moors said the recent surge in New Zealand's property prices had exacerbated the gender wealth gap in property ownership.
"There is so much equity held in real estate, so if you don't own property, that is a big source of household wealth and security you don't have access to now and for your future and retirement.
"Income growth has also lagged property price rises over this time, putting that dream of homeownership further out of reach for many."