The Great Australian Dream of owning your own home – usually a house on a quarter-acre block – is almost considered a universal truth. But one in every three people no longer holds onto this aspiration, a new survey reveals.
While one in four of 3200 people surveyed by ServiceSeeking thought they would never be able to own a home, of those who don’t own, 35 per cent said it was not a major priority in their life.
What people think about the Great Australian Dream
44%
Won’t be able to afford a home in next five years, despite wanting to.
61%
Believe property prices won’t fall in next five years.
27%
Believe they will never be able to afford a home.
35%
Don’t see home ownership as a ‘priority’ in their life.
Source: ServiceSeeking.com.au survey of 3200 businesses and customers.
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The Great Australian Dream of a house on a quarter-acre block is fast fading. Photo: Glen McCurtayne