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Aussie mortgagees putting home before holiday


But they’re not giving up on travel entirely

It takes a lot for Australians to put off travel. But the biggest purchase they’ll make in their lives - the family home - is one exception. 

 

 

New research commissioned by InsureandGo shows that nearly half (44%) of Aussie mortgagees wait more than three years to take an international holiday after buying a home, while one in three (34%) wait two years before holidaying domestically. 

 

In the first year of their mortgage, nearly three quarters (72%) of home owners don’t take a holiday abroad while over half (55%) don’t even take domestic trips. 

 

InsureandGo says that whilst most Aussies do seem to put off travel in these scenarios, they jump back on the wagon as soon as they think they are able to.

 

“We forecast that travel will continue to be a leading consumer expenditure category regardless of how the property market fares in 2019,” said InsureandGo spokesperson Jonathan Etkind, who also reminded Aussies “to be financially savvy by getting the right travel insurance to suit your destination”.

 

“With premiums starting from $27, travel insurance can help prevent any unexpected costs that might even put your home ownership at risk.” 

 

According to the study, which polled 1,000 Australian holidaymakers, Tasmanians (70%) and Queenslanders (53%) delay their international holidays longer than those in other states and territories. 

 

West Australians (37%) and NSW home buyers (40%) are the least likely to wait more than three years to go on a holiday. 

 

When it comes to age groups, younger Aussies (23% of under 40s) are less willing to compromise on travel plans than older Australians (70% of over 60s).

 

Did you put off travel after buying a home? For how long?
 
 


Written by: Mark Harada
Published: 19 February 2019


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