According to analysis by the Property Council of Australia, 47 per cent of Australian investment properties are owned by women.
Their analysis of Australian Tax Office data has found that almost half of all negatively geared investment properties are owned by women wanting to build wealth and offset the superannuation gap.
Women also account for 45 per cent of investors who negatively gear their properties.
Of the 927,000 Australian women who own an investment property, 570,000 of them use negative gearing to build wealth and save for retirement, the Property Council has found.
In every age demographic, more than three quarters of women employing negative gearing have taxable incomes of less than $80,000 a year.
This rises to almost nine in 10 women in the 18-29 year age category.
Property Investing Helps Women Secure Their Financial Futures Share on XProperty Council’s chief executive, Ken Morrison said:
“At a time when the gender pay gap is at almost 19 per cent and when women are retiring with almost half the superannuation savings of men, negative gearing a property has become a vital means for many women to secure their financial futures”,
Morrison says the statistics underscore the fact that many women use property investment as a “catch up savings plan”, given that superannuation does not give them equal outcomes to men.
Property delivers financial security for women who choose to leave the workforce or when planning their retirement, he says, adding that women
“….trust property as a long-term investment.
This is particularly significant given that Australian women, on average, retire with about 45 per cent less in their superannuation accounts than men.Given these figures, it is remarkable that policy makers are seriously considering playing with negative gearing.
More than any other sector, Australians put their discretionary investments in property and changing negative gearing is a risk to the property industry and the economy.”
–PROPERTYUPDATE
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