‘Bank of mum and dad’ the biggest factor in young Australians entering property market, research finds

Report shows 40% of 25- to 34-year-olds intend to rely on family support to buy a house while government measures not seen as crucial to achieving home ownership

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Access to family support has become “the single biggest factor” enabling young Australians to enter the property market, according to a report by researchers at the University of Sydney.

The Australian Housing and Urban Research Institute found 40% of 25- to 34-year-olds expected to call on the “bank of mum and dad” to achieve home ownership, with 74% of adult renters holding less than $5,000 in savings.

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