Australians say buying a home is more important than having children

"New research from RAMS shows property ownership to be Australians no.1 priority "

13 July 2011

Buying a home is regarded by Australians as a higher priority than having children, according to the results of a new survey released today by RAMS Home Loans.

In a survey of 1,000 RAMS customers aged 25-45, 62% of respondents said they considered buying a home their most important achievement while just 31% of respondents stated having children topped their priority list. The remaining 7% were unsure.

RAMS Chief Executive Officer, Melos Sulicich, said the data indicates owning property is not only considered the most important achievement – it also has significant social implications.

“We see a sense of urgency in many people when it comes to getting into the market, with Australians delaying other major personal life decisions such as weddings and children to become property owners, as lenders we are often in the position of handling the most important event in someone’s life,” Mr Sulicich said.

For many Australians the prospect of buying a home now has a major influence on whether they get married and how much they might spend on a wedding. For those planning marriage and children, buying a home can seem like a necessary basis to cement a relationship or create a sense of security.

For others, it can be one of the reasons why people might decide to opt for smaller families.

“No so long ago debt was once considered a social stigma but these days it’s regarded as a fact of life that holds major influence in the decision making of many Australians.” Mr Sulicich added.

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For further information please contact: RAMS Media Relations Nigel Lopez-McBean: nigel_lopez-mcbean@rams.com.au 02 8218 6359 or 0437 896 09