Chasing After The Australian Dream

By Author: Chester Cool
Total Articles: 13
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For many Australians, having a home to call their own is considered to be the greatest Australian dream. And this is not only true for the locals. For those people brought in by immigration, Australia serves as the hope for them to start a new and better life in a home of their own.

Indeed, with its low housing rates, Australia is considered as one of the best countries to buy property in. However, with the events of the financial crisis in 2008, one question remains in the mind of many people: can the great Australian Dream still be reached?

In order to answer that, one must first understand what the Australian Dream is all about. As it turns out, simply having a house doesn't complete the dream. For most Australians, being able to buy a 1,000 square meter property and putting it to good use makes the dream a reality and will be a symbol of one's financial success. And it seems that, with the vast tracts of land in the country, this one is attainable.

And throughout the years, the Australian dream has evolved into something more. Owning a car and being able to buy a second one later has now been added to ...
... the mix. Also, Australians want to be able to retire and relax at their homes while awaiting their pensions.

However, in recent years the Australian dream has become harder to reach for most people. Though the prospect of owning a house in the cities is definitely large, these are far from the one that the dream foretells. Because the cities are rather getting overcrowded, one would be able to get a 500 square meter at the most, and this is getting smaller as the years go by.

However, the size of the property that one is dreaming for is only one piece of the entire picture. As it goes, the price of land in Australia is also steadily increasing as the years go by. The housing market crisis in the US in 2008 has also had a great effect in the market of Australia. This has caused the prices of housing to grow at a faster rate than what can easily attained by many people's salary.

However, the Australian government has started to institute programs to help attain the dream. Widespread development of the suburbs has allowed the major cities to become less congested and have given city dwellers a chance to acquire a larger lot. Numerous tax grants were also given to first time house buyers to encourage them.

Thus, it looks like the great Australian dream is still attainable after all.

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