- Making a sea or tree change is more popular here than any other state or territory
- Travel is also a top dream in the NT
- NT residents are less focused on having a family than the rest of Australia
Northern Territory (NT) residents are the most likely of all Australians to want a sea or tree change, 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 between the states and territories.
Territorians are less interested in having a family and helping their children buy a home than other states and territories. However, they are the most likely to want to have a sea change or tree change and are also saving for a major purchase.
Mark Bouris, executive chairman of Yellow Brick Road, said these differences represent a diverse region and the findings showed how economic conditions, the housing market and even climate can affect people’s aspirations.
“The Northern Territory has a large number of defence, service and contract workers living in the area. With the transient nature of this group and young people serving their country, it’s not surprising that family goals aren’t as high as in other places. Perhaps due to the tropical climate and many here for a short-term job, respondents are the most likely in Australia to want to make a sea or tree change,” Mr Bouris said.
Overall, the top dream for NT residents is to travel and see the world, surpassing buying a first home, buying a better car, paying off my mortgage and getting debt under control.
Mr Bouris said these top five dreams represent a territory that values travel, property and being debt free.