Whangārei homeowner Kate’s recent experience securing her family home underscores a growing disparity in Recent Zealand’s property market: younger women are increasingly left behind, facing systemic barriers to ownership that threaten to widen wealth gaps. Kate, who became a solo homeowner after a relationship ended, said maintaining ownership requires constant financial vigilance. “I honestly don’t know how I would do it without a decent job,” she said. “If I had career breaks I would have had to sell up. Now I have to work harder… I think it would be hard for lots of females.”
Her situation is not unique. New data released by Cotality reveals a significant gender gap in homeownership rates, particularly among millennials and Gen Z. While 66 percent of millennial males (born 1981-1996) own the homes they live in, that figure drops to 37 percent for millennial women. The gap is even wider for younger generations, with just 33 percent of Gen Z females (born 1997-2012) owning their homes compared to over half of their male counterparts. The report highlights that despite 62 percent of women stating property ownership is “very important” – a higher percentage than men at 54 percent – they are significantly less likely to achieve it.
The disparity extends to investment properties as well. Cotality’s research shows 20 percent of Gen Z men and 15 percent of millennial men own investment properties, compared to 13 percent and 9 percent for women, respectively. Cotality chief property economist Kelvin Davidson attributes these differences to a combination of factors, most notably the persistent wage gap in New Zealand. “We know there’s a wage gap in New Zealand,” Davidson said. “When you glance at the proportion of women earning over $100,000… it’s quite a bit lower than males.” The survey data confirms this, with a quarter of men earning at least $100,000 annually, compared to just 12 percent of women.
Beyond income, a lack of financial literacy and understanding of the home-buying process too contributes to the problem. According to the Cotality report, 16 percent of New Zealand women reported not purchasing a property since they didn’t know where to start, compared to only 6 percent of men. Davidson suggests this points to a need for targeted education initiatives. “There’s some potential policy implications here in terms of trying to fix the wage gap, and also looking at education initiatives perhaps pushing accounting or economics or finance in terms of education pathways,” he said. He emphasized that the data demonstrates systemic issues, not a lack of ambition among women. “Women clearly desire to own property… The challenge isn’t motivation, it’s knowledge, equity and support.”
Cotality chief commercial officer Lisa Jennings underscored the long-term consequences of delayed homeownership, stating that early entry into the property market allows for greater wealth accumulation and future financial flexibility. RNZ reported that nearly two-thirds of survey respondents had made changes to improve the energy efficiency of their homes, with women prioritizing stability and long-term liveability in their property decisions.
While co-ownership remains a common pathway to property ownership, the underlying disparities persist. The Cotality report suggests a need for a deeper understanding of the unique challenges faced by female property buyers, and a commitment to strengthening communities and the resilience of New Zealand’s property market. The question remains whether policymakers will address these systemic barriers, or allow the wealth gap to continue widening.
