Do you own your home? Chances are you’re happier.
Beyond bricks and mortar, new data has linked property ownership to significant psychological benefits with homes possibly holding the key to happiness and mental wellbeing.
Findings from the Great Southern Bank’s No Place Like Home ‘Happily’ report spotlight how Aussies view their homes as not just a place to live, but central to their happiness, identity and sense of belonging.
The research from Great Southern Bank found a majority of Australian’s at 83 per cent believe their housing situation plays a vital role in their mental wellbeing, that was also strengthened with age.
MORE: Sydney Pilates Queen’s big $5.5m win
Source: Great Southern Bank & The Clever Stuff 2025
A mammoth 81 per cent view their home as their happy place, 78 per cent view their home as a space where they can truly express themselves and for 73 per cent of people home was not a place, but where their loved ones are.
Great Southern Bank chief customer officer Rolf Stomsoe said buying a home has always been a big financial milestone for Aussies but we’re now seeing just how deeply emotional it is too.
“For many people, owning a home is not just about bricks and walls – it’s about freedom, stability and a true sense of belonging,” he said.
The report also revealed two-thirds (69 per cent) of Aussies consider owning a home the most important step toward achieving financial security a view that was held by 78 per cent of baby boomers and 60 per cent of Gen Z.
MORE: Inspiring way 24yo bounced back from cancer
Source: Great Southern Bank & The Clever Stuff 2025
Relocating to Australia from the Philippines a decade ago, 38-year-old registered nurse Girlie Donovan recently purchased her first home in Toowoomba settling this month.
Ms Donovan said owning her own home has brought her a new level of contentment, and is now her happy place.
“Buying a house is one of the happiest moments of my life and biggest achievements,” she said.
“I always wanted to have my own space; it has really boosted my confidence and happiness to know that I own my own home.”
Girlie Donovan said that buying a home was one of the happiest moments of her life
Ms Donovan is married and has a son but purchased the property by herself, after exploring her options with her GSB Lender Nikka Silvania, to accomplish a goal of independent financial security.
“I came to Australia with one piece of luggage but now I have my own home,” she said.
“Buying a home is absolutely an important part of building financial security and stability.”
MORE: Seniors’ daredevil act opens Aus tallest retirement tower
Girlie Donovan said the moment her home loan was approved she felt a huge sense of relief emotionally
Ms Donovan said the moment she was approved she felt a huge sense of relief emotionally.
“I thought, this is my house, there are no more real estate inspections,” she said.
“I can call this my own because it is, it’s my place where I can be myself.
“The best part is having a home that my friends and family can really enjoy with me.”
Aussies connection to home is deeply social with happiness often stemming from how spaces are used to gather, connect and make memories.
Across all age groups, spending quality time with loved ones ranked as the top life priority in the Happily report, followed by financial security and stability, a healthy lifestyle and homeownership itself.
Source: Great Southern Bank & The Clever Stuff 2025
“The Australian dream is changing,” Mr Stromsoe said. “Owning a home remains an important goal, but younger generations are redefining success – finding new ways to balance financial goals with the lifestyles they value.”
Shed House Australia founder Rhys Uhlich is passionate about the ways in which our homes can positively impact mental health. He said making sure homeowners have active involvement in the homebuilding journey is vital.
“They (homeowners) spend so much time of their lives in their home, we really need it and encourage it to be connected to who they are as a family or individual,” he said.
Height and light in a home were said to be important for wellbeing. Image: Shed House Australia
According to Mr Uhlich, home features such as height and light are important for wellbeing.
“For so long we’ve felt like, for affordability, we need to bring homes down and make them short and rabbit warrany,” he said.
According to Mr Ulhich, not having connectedness or closing off rooms discourages connection within a home.
Mr Uhlich said openness between the mezzanine spaces and living rooms with eye line all the way through encourages conversation.
MORE: 30yo quits Australia, exposes Japan’s shock costs
The gable house design is one of the focuses of Shed House Australia. Image: Shed House Australia
Shed House focuses on the gable barn shed form as a return to a former idealised home.
“It’s what we drew on paper as kids and it’s going back to that and exploring why that inspires so much and is synonymous with what we’ve always assumed to be a beautiful home,” he said.
Celebrating light, fresh air that height was important.
“A lot has gone into the modular space over the last couple of years and that’s great but what it compromises on is that height.”
English (US) · 