Australian women aren’t maximising their property profits. The reason? A combination of lack of experience and confidence, as well as a poor grasp of basic construction principles, according to Build in Common, a building tech start-up designed to teach women how to renovate, build, and develop property.
Today, nearly half (47%) of Australians who own investment property are women, according to an analysis of data from the Australian Taxation Office (ATO) by the Property Council of Australia.
Despite the high proportion of investment property ownership among women, Pia Turcinov, co-founder of Build in Common, said women are short-changing their potential equity growth by failing to undertake projects and outsourcing tasks they could handle themselves.
“Women are capable of more than just painting and buying soft furnishings,” Turcinov said. “We want to help women project manage the trades for their renovation, or even have the confidence to coordinate an entire subdivision or commercial development.”
One of the reasons why women may be reluctant to engage in renovation and building projects is the fact that men dominate the construction industry.
“It has a jargon that often locks women out of the conversation, [fortunately] we are giving them the keys,” said Justine Teggelove, co-founder of Build in Common.
To empower women, Build in Common has a digital toolbox of information kits that explains specific areas of construction, including kitchen renovation, home extensions, and new home building.
Women as a whole are showing great savviness when it comes to property investment. Last year, out of eight million investors, female investors outperformed their male counterparts by 0.4 percentage points (40 basis points) over the year. They’ve also outperformed men over the past decade, according to Fidelity.
Susan Farquhar, managing director of Calla Property, said more women are getting involved in property investment out of a strong desire to gain control of their finances and enjoy security in retirement.
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