- 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.