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More than 90% of 16 to 24 year olds say that buying a home is their biggest goal in life according to the NAB Big Life Survey* released today.
The results show young Australians rate buying their own home above:
Seeing more of the world (88%)
Having a family (84%)
Volunteering here or in another country (72%)
Almost 80% of 25 to 34 year olds also put bricks and mortar near the top of their big life list, just behind seeing more of the world.
NAB Executive General Manager Retail Banking, Andrew Thorburn, said NAB commissioned the survey to better understand what Australians' biggest aspirations are in life.
"Anecdotal evidence is telling us that life isn't just getting busier but it's also getting bigger. Australians have more goals and aspirations than ever before," he said.
"Our survey confirmed that and gave us an even better insight into our customers' wants and needs."
Australians still want to spread their wings
While bricks and mortar, having a family and volunteering all formed an important part of a big life, seeing more of the world rated highly across every age group.
Travel is important with 88% of 16 to 24 year olds, 82% of 25 to 34 year olds and more than 60% of those over 35 listing it as a goal to achieve during their lifetime.
Australia still a nation with aspirations
The research showed that younger generations tend to have more goals and aspirations than their parents and grandparents, but that they have their feet firmly planted on the ground.
While many young people list owning their own home as their number one goal it is still just one of many that they want to achieve during their lifetime.
People aged 16 to 24 tend to have about five big life goals while those in other age groups averaged two goals.
"It doesn't matter if you want to buy a house or travel the world - most goals take a certain amount of planning and financial management particularly if you have a lot of things you want to experience," Andrew said.
"Having a word with one of NAB's bankers or financial planners could help you find the right product to suit your needs and achieve your goal sooner rather than later."
NAB Big Life Survey - state insights
Queenslanders listed overseas travel and owning their own home among their biggest goals in life. Compared to other states Queenslanders were also most likely to list buying the car of their dreams.
Compared to other states South Australians were the least likely to list a huge adventure, such as climbing Mt Everest, as one of their big goals in life. The top three goals for South Australians included seeing more of the world, volunteering and owning their own home.
West Australians were among those most likely to list having a family among their big life goals but still listed overseas travel, volunteering and owning their own home before having children.
People in Victoria and Tasmania were most likely to want to travel when compared against other states.
People in New South Wales tended to share the nation's top goals with travel, volunteering and home ownership heading the list.
Media contact:
Rebekah Miles
National Australia Bank Limited
Ph: 0400 541 139
*The NAB Big Life Survey was conducted by Galaxy Research in June 2007.
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