A new study has revealed that Australian women fear housing affordability more than men.
The study of 2000 Australians has found that women worry most about affordability when it comes to buying a property.
Done by Slater and Gordon Conveyancing Works, the study reveals that a third of women surveyed were concerned about the issue, compared to just a quarter of men.
It found that overall nearly a third of Queenslanders (31 per cent) said housing affordability was their top concern, followed by 29 per cent of NSW residents, 28 per cent of Victorians and 23 per cent of residents in WA.
Slater and Gordon Conveyancing Lawyer Robert Kern says the results showed affordability was still the biggest factor when it came to purchasing property.
“A mortgage is a big decision and, increasingly, a lot of money,” he says.
“Australians may want the property of their dreams but they are also pragmatists and don’t want to be left with a mortgage they can’t repay.”
“It’s important that people make a thorough assessment of their financial position before deciding to purchase a property.”
The study also found that Queenslanders next biggest concern was about getting finance approved.
“It’s not surprising that people are a bit nervous about such a big commitment,” Robert Kern says.
“I always advise people to consider what their position would be if something significant were to change in their lives and consider requesting flexibility in the mortgage arranagments from their bank if they need to.”
What do you think about this? Does housing affordability concern you?