Australian women including Millennials are more likely to own their home than men despite the pay gap and expensive housing market.

Overall, 60 per cent of Australian women own their home either with a mortgage or debt-free, compared with 56 per cent of men, according to national figures from the Australian Bureau of Statistics. Among the under-35s, 27 per cent of women and 21 per cent of men own their home, mostly with a mortgage.

Mother and daughter, Joanne and Lyn Auberson, have pooled their money to buy a house in the Sydney market. Credit:Dominic Lorrimer

EY chief economist Jo Masters said the figures were surprising given women earn less than men. The trend for younger women to be home owners was evidence the figures weren’t skewed by divorce or women outliving their partners.

“It might be about women being somewhat more risk averse and more conservative in their spending,” Ms Masters said. “Women over time have proven to be good budgeters.”