The bank of Mum & Dad - Episode 114

The Wealth Collective

According to Digital Finance Analytics latest figures, more than 60 per cent of first homebuyers are now receiving help from their parents to put down a deposit on a property and the average gifting is now equating to approximately $90,000. Based on the average first homebuyer deposit amount of $106,743, the Bank of Mum and Dad is providing an average of 84 per cent of the total required deposit for the more 60 per cent of first homebuyers that are receiving parental assistance.

On this week's episode we take a look at the best way's to help your children with a deposit for a home!

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