Western Australians are more focused on lifestyle hopes and dreams

  • More people want to have a family and help their parents in the ACT than across Australia
  • ACT residents also say their biggest dream is to travel and see the world
  • Buying a new car is not a priority in the ACT

Australian Capital Territory (ACT) residents are the most likely of all Australians to want a family as well as assist their ageing parents, according to the Yellow Brick Road Wealth Management Hopes and Dreams Survey.

Yellow Brick Road (ASX:YBR) analysed the hopes and dreams of over 6,500 Australians in a survey which sought to understand the financial aspirations of the nation. The data reveals some surprising differences across the states and territories.

Residents of Australia’s Capital Territory are less interested in buying a better car than other states but they are the most focused on having a family, resolving their parents’ financial worries and sticking to a budget.

Mark Bouris, executive chairman of Yellow Brick Road, said these differences represent a territory where the economic conditions and housing markets affect people’s aspirations.
“The Australian Capital Territory is a bit quieter and the strength of the public service tends to attract families to the area. Therefore it’s not surprising that one of the biggest hopes and dreams for the area is to have a family. The importance of family is a notable character in the area as Territory residents also rated taking care of their ageing parent’s financial worries as a bigger priority than the rest of the country,” Mr Bouris said.

The ultimate dream for ACT residents is to travel and see the world, surpassing the dream of buying a first home, getting debt under control, owning a business and paying off the mortgage.

See how your dreams compare

Mr Bouris said these top five dreams represent a territory that values travel, property and

“Australia is a nation of holidaymakers and globetrotters and the research shows that Australian Capital Territory residents still have the travel bug. With housing being more affordable than places like Sydney and Melbourne, property goals weren’t as prevalent as other parts of the country.

Owning a home was still important but people also highly valued getting out of debt and paying off the mortgage. Many people also chose owning a business as a dream. As a small business advocate, it’s encouraging to see this area brimming with young entrepreneurs,” he said.

Mr Bouris said having these dreams is great, but he’s concerned that too many Australians aren’t getting the advice they need to turn dreams into reality.

“Regardless of whether your dream is to go on holiday, buy a new property or get out of debt – you need to get clear on what your goal is and the execution plan to make it a reality.

For more information, contact:
Abby Hempfling
Branch PR and Communications Manager
Yellow Brick Road Wealth Management
T 02 8226 8295
M 0450 769 337
E Abby.hempfling@ybr.com.au

To see how your dreams compare to the rest of Australia visit www.ybr.com.au/dreamers.