Western Australians are more focused on lifestyle hopes and dreams

  • Western Australians are the biggest travellers in the country
  • Lifestyle dreams including owning a boat and getting into shape rated high
  • Regional dreams drastically vary: Northern WA wants to get their debt under control, whereas those in South East WA want to retire early

Western Australia (WA) residents have more lifestyle goals than the rest of the country, 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 revealed some surprising differences across the state.

Compared to the other states and territories, WA residents were more focused on lifestyle goals.

More people in this state choose travel, owning a boat, getting into shape and getting a more exciting job as their biggest hopes and dreams.

Across the state there are some interesting differences. Northern WA residents are nearly three times as concerned about getting their debt under control as the state or national average. Whereas South East WA was much more focused on retirement goals – with three times more people selecting retiring early and retiring comfortably as one of their top hopes and dreams. In the city, Perth had more residents wanting to get married and have a family than the state average.

Mark Bouris, executive chairman of Yellow Brick Road said these differences represent a diverse state and the findings showed how economic conditions, the housing market and even climate can affect people’s aspirations.

See how your dreams compare

“We know that places like Northern WA have suffered from the downturn of the mining industry and debt seems to be a bigger concern in this region. Then you have people in other areas where retiring early are their biggest goals. Other popular aspirations in the state are owning a boat and travelling overseas which perhaps are being chosen as activities in early retirement,” Mr Bouris said.

Overall, the top dream for WA residents was to travel and see the world, surpassing buying a first home, getting debt under control, paying off the mortgage and owning a business.

Mr Bouris said these top five dreams represent a state that values lifestyle, property and

“Australia is a nation of holidaymakers and globetrotters and the research showed that Western Australia residents are leading that charge. They wanted to travel more than anywhere in Australia.

Coming in a close second was buying one’s first home. Given the country’s obsession with property and the current low interest rates – it not surprising that this is a big focus for this state,” he said.

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.