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Home ownership 'more important than getting married'

Owning a home is more important than getting married for most Australians.

Owning a home is higher on the list of priorities for most Australians, according to a new study.

The latest Westpac Home Ownership Report shows that owning a home or paying off the mortgage are most important for 57 per cent of Australians who already have a home or are planning to buy one within the next year.

This is in comparison to the eight per cent who prioritise having children and the five per cent who believe getting married is more important.

More than three-quarters of survey respondents also said that they felt that you only officially become a homeowner when your mortgage was paid off in full.

Commenting on the results, Westpac's Tony MacRae said: "The Westpac Home Ownership Report reinforces how important owning a home is to Australians and it's striking that people are prioritising this ahead of kids and marriage."

He added that the report also shows that many Australians are keen to own their own home and require advice in order to speed up this process.

Posted by Steve Douglas

- marriage, property, bank, debt, loan, mortgage

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