Research SA residents dream less of property and more of cars
- SA residents are less focused on buying a first home or building an investment portfolio
- Buying a new car was a bigger goal in this state than any other
- State-wide dreams vary: South East SA residents want a boat, whereas those in North SA want to help their kids buy a home
Residents in South Australia (SA) aren’t affected by the national property obsession 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 less SA residents are interested in buying a first home or building an investment portfolio than the other states or territories and the Australian average. However, there are more people interested in paying off their mortgage and getting their personal debt under control. Getting a better car is also a greater desire here.
State-wide results also show interesting contrast. For instance, in Northern SA fitness rates fairly low with the area being four times less likely to want to get into shape. However, they were twice as likely to want to help their kids buy a property. In the Adelaide Hills, residents want to own their own business. And those in South Eastern SA like new toys, with residents the keenest for a new car and twice as likely to want a boat.
Mark Bouris, executive chairman of Yellow Brick Road, said these differences represent a very diverse state and the findings show how economic conditions and the housing market affect people’s aspirations.
“The property market hasn’t taken off in SA the way it has in other states. Buying a first home is still a priority but not nearly as much as in other places. Therefore residents of South Australia are able to focus on setting goals to assist their kids break into the property market or buy other big ticket items for themselves like a new car or boat,” Mr Bouris said.
Overall, the top dream for SA residents was to travel and see the world, surpassing buying a first home, getting debt under control, buying a better car and paying off the mortgage.
Mr Bouris said these top five dreams represent a state that values travel, property and a
“Australia is a nation of holidaymakers and globetrotters and the research showed that South Australia residents still have the travel bug. This state has a much bigger focus on paying off the mortgage, perhaps so they can better focus on their lifestyle goals which includes upgrading the family vehicle,” he said.
For more information, contact:
Branch PR and Communications Manager
Yellow Brick Road Wealth Management
T 02 8226 8295
M 0450 769 337
To see how your dreams compare to the rest of Australia visit www.ybr.com.au/dreamers.