Lo­cal ladies lead

The Weekend Post - Real Estate - - Front Page - Cait Bester

ITr­ish Brown is buck­ing the trend of which gen­der is more fi­nan­cially proac­tive in the hous­ing mar­ket. T seems Cairns women may just be more fi­nan­cially savvy when it comes to re­jig­ging their per­sonal fi­nances to save for or to pay off a home loan com­pared to their fe­male friends in ma­jor cities.

A sur­vey con­ducted by Mort­gage Choice said 51 per cent of Aus­tralia’s fe­male mort­gage hold­ers had no plans to make changes to their fi­nan­cial sit­u­a­tion in 2011.

In com­par­i­son, more than three in ev­ery five, 61 per cent, male mort­gage hold­ers plan to make changes.

How­ever, Mort­gage Choice Cairns fran­chise man­ager Lin­don Reed said it was the op­po­site in Cairns and women were buck­ing the trend.

“To be hon­est, the trend in Cairns is the re­verse to the na­tional sur­vey,” Mr Reed said.

“We are find­ing more and more women are ask­ing the ques­tion and seek­ing al­ter­na­tives to their ex­ist­ing loan po­si­tions.

“This is prob­a­bly due to them hav­ing a more hands-on ap­proach to the fam­ily bud­get.

“Sin­gle women also seem to be more proac­tive when it comes to seek­ing bet­ter deals and op­por­tu­ni­ties and are not daunted by the fact they need to hag­gle for prop­erty pur­chases.”

Cairns sin­gle mum of two Tr­ish Brown is one of the women mak­ing a move in the hous­ing mar­ket af­ter sell­ing her first home and re­cently she signed a con­tract for her sec­ond home.

“This is in my five-year plan – to buy in the low and sell in the high so hope­fully I will gain money on it,” she said.

“I have al­ways come from a fi­nan­cial back­ground so see­ing the trou­ble peo­ple get into, I have been able to learn from that.

“You have to bud­get and live within your means and it doesn’t have to be for­ever.

“If it means not go­ing out to din­ner for six months or buy­ing any new clothes for six months then you can achieve your goal and save money.”

Mort­gage Choice spokesper­son Kristy Shep­pard said ev­ery­one with a large debt com­mit­ment should re­view, at the very least, that com­mit­ment and their bud­get ev­ery year.

“Reg­u­larly re­view­ing and/ or mak­ing ad­just­ments to suit the ever-chang­ing eco­nomic land­scape and fi­nan­cial prod­uct mar­kets are es­sen­tial to main­tain­ing a healthy house­hold bud­get,” she said.

“It will also build your con­fi­dence in your abil­ity to man­age debt com­mit­ments.

“Pas­sive bor­row­ers, both male and fe­male, who don’t give their fi­nances a health check at least once a year may be miss­ing out on ev­ery­day and home loan sav­ings.

“ This means less cash flow for re­pay­ing debt quicker, cap­i­tal­is­ing on other in­vest­ment op­por­tu­ni­ties and treat­ing your­self.”

This in­creased in­ter­est from both gen­ders was re­flected in Mort­gage Choice’s web­site sta­tis­tics.

When com­par­ing Jan­uary 2011 to Jan­uary 2010, www. MortgageChoice.com.au has seen a 14 per cent in­crease in unique vis­i­tors to its ‘ Tips and Check­lists’ sec­tion.

Pic­ture: MICHAEL WATT

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