Pathway to security
Buying a home is not merely a rational decision, though we all weigh up the pros and cons of possible purchases. Buying a home is something deeply personal and emotional.
All of us, in our homes and apartments, seek places that are reflections of lives, preferences and personality. It is the place where we can be ourselves.
More than a place to lay our heads, our homes are the places where we can feel secure. Not just our physical security but our economic security as well.
For most Australians, housing is the foundation to creating and building economic security. Unlike cars, furniture or holidays, our homes are not expenses, they are assets – and assets that over the longer term, inevitably grow.
Historically, Australia has been a world leader in terms of getting people into their own homes. This has contributed to stable communities and to Australia becoming one of the most equitable and fair nations in the world.
Homes provide security. It’s one of the reasons we are also supporting the establishment of the ‘build-to-rent’ asset class. Build-to-rent offers the opportunity of long-term leases and replicates many of the features of home ownership. Build-to-rent provides that sense of security while you can save for a deposit.
In many of our largest cities, getting into the market is harder than ever. As an industry that believes in homes as the pathway to security, we are continuing to work on solutions that put home-ownership in the hands of as many people as possible. Simpler planning rules, less red tape, reducing property transaction costs, and encouraging new asset classes like build-to-rent are all parts of the solution.