Buying property in Australia has become increasingly difficult for many first home buyers. One of the biggest challenges is saving a sufficient property deposit.
According to the Australian Bureau of Statistics’ latest Wage Price Index1, wages grew only 1.9% between March 2016 and March 2017 quarter. Meanwhile, CoreLogic figures show that the mean dwelling price in Australia has risen 11.2% in the 12 months to March 20172.
If you’re the parent of a first home buyer, you may be thinking about how you could potentially help your child achieve their home ownership goals sooner rather than later. There are a few things you can do - which we've outlined below.