House price surge means more first home buyers are getting help from the Bank of Mum and Dad – ABC News
When Melbourne musicians Kate Golby and Zac Anthony needed help buying their first home six years ago, Zac’s Dad agreed to sign up as guarantor for the loan.
- Analyst says 60 pc of first home buyers are getting financial help from their parents
- The average contribution from parents was $89,637
- Concerns the Bank of Mum and Dad is fuelling record house prices
“It would have been another 10 years of dedicated saving just to get a 5 per cent deposit and prices were just going up and up and…