Aspiration, dislocation and isolation in tough times

Australians still want a home of their own, financial security and the freedom to enjoy life.

But increasingly, getting there means waiting longer, working more, spending less and finding different ways to live.

New research paints a picture of aspiration, dislocation and growing isolation as Australians adjust their lives in tough economic times.

Seven in 10 Australians still see home ownership as a sign of financial success but almost two-thirds are prepared to delay it and similar milestones - as long as they reach that goal eventually.

Almost six in 10 have made or expect to make significant sacrifices to reach their goals, according to a national YouGov survey commissioned by customer-owned bank NGM Group.

More than half have cut lifestyle spending, 30 per cent work longer hours or multiple jobs and 22 per cent have changed jobs or career paths.

NGM Group's James Cudmore says the findings challenge the idea younger Australians are turning their backs on traditional aspirations.

"Despite the affordability challenges and economic uncertainty they've experienced, our findings suggest that aspirations such as home ownership, family, and financial security still really appeal to young people," he says.

For Perth couple Chris Dinham, 35, and Bec Davies, 34, getting a foot on the property ladder meant changing their idea of what owning a home should look like.

After five years travelling Australia in a minibus and documenting their journey online as "Salt" and "Charcoal", they found a remote property on the NSW Mid North Coast for much less than they could afford in their hometown or major cities, and built a tiny home.

"We realised we didn't need a large house to live a beautiful lifestyle," Chris says.

"Once we got clear on what makes us happy, we built our home ownership journey around that."

For others, the wait for a home of their own is stretching much further.

A separate study of 3562 people living in or hosting share accommodation found 44 per cent were aged 40 or older - making them the largest age group surveyed and challenging the image of the sharehouse as a temporary stop in young adulthood.