And Gen Y ladies also have a better grasp of finances, with 81 per cent understanding what a variable rate is compared to only 60 per cent of Gen Y men.
The men also lagged behind in understanding offset accounts (39 per cent compared to 50 per cent of women).
The Westpac Home Ownership Report found 73 per cent of Gen Y women were focused on the benefits of paying off their loans early, while only 56 per cent of the men were concerned about early ownership.
Almost half of women aged 18-34 ranked home ownership as their top priority, ahead of having a family (14 per cent) and marriage (5 per cent).
Rosalind Davis, 27, who bought her one-bedroom Randwick apartment for $425,000 a year ago, hopes to climb the property ladder by upgrading in a few years time.
She said home ownership is a goal for lots of her friends.
"I don't know if it is more important than getting married and having kids but it is more controllable. You can't control when you are going to meet the right person but you can completely control your income and save enough.
"It is definitely a priority for all my girlfriends.''
Researching on the internet and the ability to secure a loan without a formal interview with a bank manager made getting a mortgage less intimidating, she said.
"As a young woman going into the bank is a really daunting thing on your own. Now with the internet you can just figure out how to do it and just go for it,'' she said.
Gai McGrath, Westpac's general manager of retail banking, agreed: "I think those days of a man as a financial planner are long behind us.
"There is this cohort of young women who are very determined about getting a platform for financial security from a young age.''
She believes men of the same age may not be as driven because of the comforts of home.
"There may be something in the proportion of Gen Y men v Gen Y women who are still living with their parents,'' she said.
Social researcher Mark McCrindle said Gen Y women were better educated and commanded rising incomes.
Just under 30 per cent of men aged 25-34 have a university degree, compared to 40 per cent of women, he said.
"We are really starting to see the rise in the financial power of the next generation of women,'' he said.
"They are getting education, they are getting careers and they are taking charge of their financial future.''