Bank of Mum and Dad

HomeInsights

Bank of Mum and Dad.


The average price of a home in NSW is $1,184,500, the highest in the country. Canberra is next at $948,500, followed by Victoria at $895,000, with the Northern Territory the lowest at $489,2001. With the target cash rate expected to remain steady at a 12 year high of 4.35% over 2024, the pressure is on parents and family to help the younger generation become homeowners.


Over the last 15 years, home ownership has fallen from 70% to 67% of the population. Over time, declining home ownership will increase the wealth gap in Australia as for many, home ownership is a significant factor in wealth accumulation. According to the Actuaries Institute, wealth inequality is significantly higher now than in the 1980s, with the wealthiest 20% of households currently having six times the disposable income of the lowest 20%2.


The Domain’s First Home Buyer Report 2024 estimates the time for a couple aged between 25 and 34 to save a 20% deposit for an entry level home to be 6 years and 8 months in Sydney, and 5 years and 5 months in Melbourne (the Australian average is 4 years and 9 months). In that time, they are begrudgingly paying rent (or staying with Mum and Dad).



First Home Buyers?



Ensure clarity and protection by documenting loan terms for your home purchase with legal guidance. Consulting a financial adviser  is key to assessing eligibility for schemes aiding first-home buyers.


CONTACT US  CONTACT US 



Skybots: RPA & A.I - 2-Days Training Course: MORNINGTON

LIVE 2-DAY COURSE - MORNINGTON
29 & 30 September 2025

Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA, and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation solutions independently.


Skybots: RPA & A.I Training Course SYDNEY

LIVE 2-DAY COURSE - SYDNEY
25 & 26 September 2025

Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA, and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation solutions independently.


Skybots: RPA & A.I Training Course BRISBANE

LIVE 2-DAY COURSE - BRISBANE
8 & 9 September 2025

Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA, and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation solutions independently.

Related News

29 Jul

Is Your Super Fund Working Hard Enough For You?

This past financial year brought a wave of opportunity—and many super funds delivered, with double-digit growth across key asset classes. The big question: is your fund among the top performers?


READ MORE READ MORE
29 Jul

Why SMSFs Are Quietly Winning

More and more Australians managing their own super through SMSFs are outperforming the country’s largest funds—and they’re doing it with calm confidence, not complexity.


READ MORE READ MORE
23 Jul

How the ATO Sees More Than You Think - And Why Transparency Matters

Discover how the ATO’s data-matching program works and how staying informed can help you prepare your taxes with clarity and confidence.


READ MORE READ MORE