Empowered Women
Discrimination between sexes may not be entirely a thing of the past but we are definitely getting there. Diane Lew of Property Observer compiled a detailed information about the real estate market in Australia. According to Lew, the 2011 census data from ABS indicated that more women own their own homes – 61% of women compared with 58% of men are homeowners, while 65% of single women compared with only 55% of men own their own living space.
The change in numbers was brought about women’s increasing role in business. Unlike before, women nowadays work on par with men to manage businesses. Women now are more capable and knowledgeable to handle top roles in the corporate world enabling them to become financially stable. This brought about the change in home ownership statistics.
The Current Real Estate Market
This result influenced the marketing strategy of real estate brokers in Australia. Given that 59% of the female respondents consider the kitchen as the most important room of the house, we should see more renovation activities focused on kitchens. Especially as Australia’s real estate market now prepares for the increase in buying activity during autumn.
As Lew quite rightfully points out, today’s buyers show interest in properties where they see potential and they are also clever in assessing the renovation cost before they can convert that idea into a reality.
You can read the whole article here.
The better we understand market forces and buying preferences of people, the better we can determine which type of renovation makes sense and will increase the home’s value beyond the cost of renovating. Always a good thing.
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