Despite the housing affordability crisis, the Australian dream of home ownership is still the main financial goal for people in 2008, according to a new survey.
The online poll by X Inc Finance, Australia's fastest growing mortgage broker, found that more than a third, or 35.4%, of respondents to the survey nominated buying or paying off a home as their financial priority for 2008.
Meanwhile, almost 19% identified paying off their credit card as their target for 2008 while nearly 17% were most concerned with saving for a holiday.
"The results suggest that people are still grappling with festive season hangovers - they are either still paying for it through their credit cards or they're already planning their next break," said Jennifer Nielsen, X Inc Chief Executive Officer.
"However, the overwhelming theme from the survey is that, when it comes to home ownership, people are beginning 2008 in a positive frame of mind, despite record lows for housing affordability.
"The performance of the domestic economy and the direction of interest rates in the first few months of the New Year will determine how well placed this optimism is," she said.
X Inc Finance's survey also found that shares or other investments were a priority for 14.5% of respondents while 11.5% nominated buying or paying off a car as their target for 2008.
The January survey looks at how home ownership aspirations have been affected by the housing affordability crisis.
X Inc Finance survey results:
Q: What are your financial resolutions for the New Year?
| Buying/paying off a home | 35.4% |
| Paying off credit card | 18.8% |
| Holiday | 16.7% |
| Shares/investments | 14.5% |
| Buying/paying off a car | 11.5% |
| Other | 3.1% |
