STUDY: Is owning property more important than travelling?
A new study has found that young Australians are divided over whether buying a home or travelling is more important.
Fifty per cent of Australians under 30-years-old would prefer to travel than own a house, while almost two in three Australians think achieving property ownership in life is more important.
These are the latest findings from InsurandGo, which conducted a survey to gauge whether Australians think travelling or owning property is more important in life.
One of the main findings of the study reveals that 64 per cent of Australians think it is more important to own a house, while a smaller percentage would rather see the world (36 per cent).
According to the study, travel appears to be a device topic for younger people, with the survey finding 50 per cent of under-30s believe travel is more important in life. This was followed by 41 per cent for 35 to 44-year-olds favouring travel over owning property; 36 per cent for 45 to 54-year-olds; and 28 per cent for 55 to 64-year-olds.
The survey also sought to uncover whether Australians would regret not having travelled or owned property by the age of 45. The findings pointed to people being torn between which they would regret most.
Most would regret not owning property (59 per cent), rather than not travelling. While 55 per cent of 25 to 34-year-olds believe they would regret not travelling more, compared to 33 per cent of those over 55.
In terms of homeownership, it seems to be the opposite for older Australians: 68 per cent of over-55s would regret not owning property, compared to 45 per cent of under 34s.
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