The property investment market is a world that’s been traditionally male-dominated. More recently, however, we’ve noticed some interesting figures that suggest that female property investors are becoming a lot more prevalent than in the past.
During the end of 2018, the team at RW Invest noticed a significant rise in both the number of female investors and the number of women displaying an interest in buy to let investment. After conducting some research, we discovered a 172% year on year increase in the number of women searching for UK property investment opportunities online. In 2018 as a whole, more than 16,416 women had searched online for buy to let investments, many of whom then went on to make a purchase. Overall, the number of women in property investment had increased by 78% between September and October.
These statistics have opened our eyes to the shift that the UK property market is experiencing, and by sharing this information, we hope that more women will be encouraged to go ahead with investments of their own! Take a look at this guide to the rise of women in the property sector, and what this means for the future of females in business.
The rise of females in business and property
The topic of women in property has made headlines in 2019, particularly on a worldwide scale. In 2018, almost 72,000 single women purchased a residential property in South Africa, making them the largest demographic of property buyers in the country.
This is a huge statistic and only validates this increase of female property investors even further. Other 2019 headlines have expressed the forward-thinking outlook the world now has towards women entrepreneurs. Boardgame company, Hasbro, have introduced a new ‘Ms. Monopoly’ game, replacing the traditionally male character with a female investor. Instead of buying real estate, however, Ms Monopoly focuses on investing in other females in business by helping them grow their own businesses.
While the Ms Monopoly game doesn’t exactly push the idea of female property investment, it does tie into the growing theme of female business owners. More women than ever are taking their financial future into their own hands by launching businesses. In the US, for instance, black women are the fastest-growing demographic of entrepreneurs – another huge step forward. Not only are female business owners overtaking a once male-dominated world, but owning a business is also a great way for women to launch careers in property once they’ve built a substantial income.
Female entrepreneurs success stories highlight the importance of taking risks when it comes to your financial status. Holly Tucker and Sophie Cornish are a good example of successful females in business. Holly and Sophie launched Notonthehighstreet.com from their kitchen table in 2006, a now thriving online retailer in the UK. In 2013, the two were awarded MBE’s for service to small businesses and enterprise, and have also been involved in venture capital investments.
Why are more women investing?
So what’s causing this increase in the number of women investing in properties or businesses? Women today are now a lot more financially focused than generations of women before them. Through a rewarding career and smart money management, women everywhere are taking control of their finances and giving themselves better financial independence — investing and owning a property portfolio is simply another way to boost their income further and utilise their talent, skill and ambition.
For many, investing could also be a way to bridge the gap between men and women’s earnings. The gender pay gap is still an issue in many UK workplaces. A whole 78% of companies in Great Britain reportedly pay men more, which means that women in the property industry could be investing as a way to earn the same amount, or more than, their male counterparts.
Generational factors have influenced this shift in women’s attitudes towards a focus on investments, fees and funding. Millennial women (those born somewhere between the early 1980s to the mid-1990s) are reportedly working more and earning more money than ever before. Through our own findings on female investors, we discovered that the biggest rise in enquiries into UK property per demographic was from women aged between 25 to 34.
The Association of Women in Property is a network sponsored by property companies like Savills and are contributing to this rise in female investment. The association links professional women together and encourages them to consider careers in property investment, along with providing guidance for those already working in the property and construction industry. Based in the UK, the Association of Women in Property represent the South and South East of England, the North, and Midlands of the UK. They also cover North and Central Scotland, as well as Northern Ireland and South Wales.
If you’re inspired by women in the property industry and want to take your first step into property investment, get in touch with RW Invest today. We’re one of the UK’s most trusted property companies and can help you join the growing number of female investors, guiding you through the best opportunities available in the North and North West.