The average home deposit has reached record levels of more than 32 per cent, showing that buying property has become unaffordable for the average Australian, experts say.
“The buyers in the current market are less constrained by borrowing capacity and they’re less reliant on funds from a bank.” “It does show what I’d call a two-speed buyer pool. One with family assistance and one without,” he said. “We find that most clients that get help from mum and dad, it’s supplementing their savings.Unkles said it was usually mutually beneficial for parents to pass on inheritance early.
“You need to change your view that it’s based on what the average household … can afford. For an average income household in Australia today they cannot afford the median house any more.