SINCE 1997

Latest Jim Chalmers News

Great Australian property dream being put to sleep

Australians now rank financial worries brought about by the soaring cost of living as their number one financial concern, and with more than 40 per cent of respondents having no savings buffer they are right to be nervous.

Aerial view of a typical middle class suburb in Australia
The dream of home ownership is slipping from the grasp, and aspiration, of many Australians.

Financial survival has eclipsed the Great Australian Dream of property ownership.

Australians now rank financial worries brought about by the skyrocketing cost of living as their number one concern.

While half say they will have significant challenges meeting their expenses and debt repayments this year, only 12 per cent identified saving for a home as their number one financial focus.

The disturbing findings are drawn from two major surveys t…