The “Great Australian Dream” of owning a home is well alive and active! The history of the Great Australian Dream was traced back to the period of reconstruction, after the conclusion of World War II in the year 1945.
With the help of the rising and sturdy manufacturing and rural economy, the reconstruction period saw the country grew at a rapid phase.
The Great Australian Dream was characterized by a red-brick suburban home situated on a quarter-acre block, with a large volume of grass patch perfect for mowing, and may include a swimming pool.
It was considered a measure of wealth and influence, and if a family really does well, they might even acquire a beach house or go on a yearly vacation.
These ideas have been brought to the people’s senses through several films in Australia such as The Castle, and even in television series like the satirical Kath and Kim.
However, due to insufficient affordable housing, the rising number of population finds it even harder to purchase a property. That is the reason why to this date, the definition of the Great Australian Dream became “any house which you can call your own, or one that provides a home“.
People in general believe that owning a property or home, makes them feel that they are in control of their lives. They also believe that it means financial security and a family investment for the future. Others consider it as an emotional investment more than a financial venture. They take it as a way of saving money for retirement and for future needs.
According to a report submitted by the Productivity Commission regarding housing, home ownership continually impose a greater impact on society as the years go by.
The report concluded that community well-being is brought about by having easy access to quality and affordable housing. More than giving shelter, which is a basic need, a home provides a strong domestic foundation and social strength. It also adds to the development of education and workforce, and good emotional and physical health.
Given its significance in the promotion and maintenance of a functional, established and just society, housing should be given utmost importance and should not be taken for granted.