Is the Aussie Property Dream Still a Reality?
The research measured Australian’s optimism across a range of areas; including if Australian businesses are ready to face the future, if our kids’ have the skills they will need for tomorrow, and if the Australian property dream is still alive and well.
The report revealed that although traditional life markers such as the age people are getting married and having children have been delayed over the last few decades, the average age of a first home buyer has remained relatively consistent for the last two decades, hovering at 32 years of age. Whilst 48% of Aussie’s believe that the Australian property dream is still a reality, for others it is clearly being redefined. Whilst the Baby Boomers were looking for the quarter acre block with a stand-alone home, as Gen Y are entering the property market, it is likely to be smaller block sizes and an increase in units and apartments. However the report shows that the Aussie dream remains high on the aspiration list, with today’s property buyers overcoming obstacles and responding to new realities to find a way to keep the re-defined dream alive.
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