The evolution of the Great Australian Dream

By Anthony Boyd, Executive General Manager Residential

  • 01

    The way we were

    The Great Australian Dream of home ownership lives on; but the reality is that the one-size-fits-all quarter-acre block approach of yesteryear has not kept pace with our modern lives.

  • 02

    The way we are

    Today we live in denser, more transit-oriented towns and cities where high quality and amenity-rich public domain functions as both meeting place and back yard.

  • 03

    The way forward

    The future will see these new communities as places that nourish a rich social existence with the added health and wellbeing benefits that flow from deep community engagement.

In the prosperous decades following the second world war, a Great Australian Dream took hold in the nation’s collective consciousness. It meant a home of your own on a quarter acre block and a brand-new car in the driveway.

The dream became a reality for millions of Australians as capital cities across the country swelled with new people and the homes they built to live in. But as we know now, the Dream created its own set of unintended consequences.

Large homes on large blocks has meant constant outward pressure on the urban fringe, pushing Australia’s cities to become among the largest and least densely settled in the world. The twin penalties of rising infrastructure costs and skyrocketing land prices dramatically reshaped the housing market, ushering in an era of denser development. That’s been good for affordability, but hasn’t always addressed other issues like social isolation and loneliness, which is paradoxically growing even as our social media use explodes.

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