The majority of Australians rate home ownership as being a higher priority than having children or getting married, according to a new survey from Westpac.
Conducted by Sweeney Research on behalf of the bank, the Westpac Home Ownership Report reveals that "owning a home" or paying off a home loan faster was the top priority for 57 per cent of the survey's respondents.
In contrast, 8 per cent listed having children as their highest priority and 5 per cent said getting married was their top goal.
The report surveyed a total of 1,594 Australians who either had a home loan already and were owner occupiers, or who were planning to buy a property within the next 12 months.
According to Westpac General Manager of Retail Banking Gai McGrath, the report also indicated that many Australians were in need of advice about the process of home ownership.
"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," said Ms McGrath in an August 19 statement.