- Parents give their kids an average of $33,278 to help with a house deposit according to 2023 data from Finder's CST.
- More than 60% of first home buyers in Australia receive some form of financial assistance from their parents to buy their first home.
- The Bank of Mum and Dad is estimated to be collectively worth about $35 billion.
- Over 50% of kids who borrow money from their parents are under financial stress, compared with about 28% of property buyers who relied on their own resources.
- Around 7% of parents help their children pay their mortgage and 7% support by being a guarantor on their home loans. This is up from 4% and 5% from 2019.