Whether there is a house has a big impact on the well-being of Australians, and new research shows that homeowners are far more satisfied with their lives and less anxious than tenants.
A survey by (NAB), the National Bank of Australia, found that people who owned a separate house or apartment had a higher happiness index than the national average; for those who rented both houses, happiness was lower than average.
Homeowners are more likely to say they have a "valuable life" than tenants, and they feel "happy yesterday".
NAB's happiness index measures life satisfaction, life value, happiness and anxiety. The happiest are those who own independent homes, whose overall happiness index is higher than those who own apartments, rent independent homes and rent apartments.
The happiness index of owning an apartment is only a little lower than that of people who own separate homes, but they are more optimistic about the future than those of other types of housing, are in better health and are more satisfied with commuting to work.
The report found that of the four types of housing, apartment tenants had the lowest overall happiness index, although independent tenants were the least likely to feel "happy yesterday".
In Australia, the proportion of rental households has risen steadily over 25 years, reaching a record 31 percent in the 2016 census.
At the same time, there has been a marked decline in the housing ownership rate of young families. Since 1981, the proportion of households between the ages of 25 and 34 who own homes has fallen from 61% to 47%.
According to the NAB's Australian Happiness Index, those who rent separate homes or apartments are nine percentage points less happy than those who own them, and more than six percentage points lower than those who own them.
"the results show that our current state of life is an important factor in our overall happiness index," the report said.
More than 2000 Australians took part in the survey, which weighed samples to ensure that the survey was a reasonable reflection of Australia's population.
Pearson (Dean Pearson), head of behavioral economics at NAB, said the stability and corresponding happiness associated with owning a home exceeded financial obligations such as mortgage payments.
"the important thing is that homeowners are happier regardless of their income level, which means that owning a more valuable property doesn't necessarily mean greater happiness," he said.
The survey drew attention to shorter commutes for apartment owners, which helped boost their overall well-being.
Pearson continued that there is an idea that independent homes are the most advanced form of ownership, but the study really shows that for many people, living in their own apartment is as happy as it is. You can also have some benefits that are not available in a stand-alone house.
The NAB Quarterly Happiness Survey looked at Australians' perceptions and feelings about their lives. Respondents were asked to evaluate their satisfaction with their lives; the extent to which they felt that life was worth it; how happy they were yesterday; and how anxious they were yesterday.
Overall, the NAB's Australian Happiness Index, which began in 2013, fell to its lowest level in March.
1/4 of respondents said they were "highly anxious". The NAB Happiness Index survey has been declining since the middle of last year.