Female property investors are increasing in number and are as astute as their male counterparts, a new survey has revealed.

The research, commissioned to mark the launch of the Bradford & Bingley Property Woman of the Year Awards, indicated that 59 per cent of women said the potential for return on their investment was a key reason behind their decision to enter the property market, while 47 per cent saw it as a replacement for a pension plan.

Fiona Curtin, buy-to-let expert at Bradford & Bingley, said: "The last few years have seen a huge growth in the number of women investing in property.

"These awards recognise their successes, the challenges they’ve overcome and ultimately act as an inspiration for more women to become part of this growing property sector," she added.

Women were also found to prefer a more hands-on approach to their investment, with 71 per cent claiming they have or would undertake major renovation work themselves while 57 per cent manage their own property instead of instructing an agent to do it for them.

Earlier this month, Scottish estate agency Warners suggested that single women are driving a boom in the number of homes being bought by one person.