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According to data from national mortgage broker Resolve Finance, almost half of parents (48 per cent) are contributing cash towards a deposit, while 43 per cent are allowing their children to live at home rent-free to build savings.
More than a quarter (27 per cent) are acting as guarantors, while 16 per cent are providing interest-free loans.
The research also indicated a growing willingness among parents to explore longer-term housing solutions, with around 8 per cent considering the purchase or construction of a granny flat or dual-occupancy dwelling.
The survey also found that parents now expect their children to leave home at an average age of 25.6 years.
Resolve Finance managing director Don Crellin said family support was becoming an increasingly important factor for first home buyers seeking to enter the market.
“For many first home buyers, getting into the market is not just about discipline and saving hard, it comes down to whether family can step in and support in many ways such as guarantor arrangement, or simply a roof over their head for longer,” he said.
“What we are seeing is a structural shift. Family support is no longer a nice-to-have at the margins, but for many Australians, it’s becoming the bridge between renting and owning.”
Help peaks during prime earning years
Support is strongest among Australians in their peak earning years.
More than half of those aged 25–34 (53 per cent) and 35–44 (50 per cent) said they planned to help their children enter the property market when the time comes.
That figure falls to 43 per cent among those aged 45–54, a cohort more likely to be balancing competing financial obligations, including supporting ageing parents or relying on a single household income.
Older Australians were more likely to have already provided assistance, with 35 per cent of parents aged 65 and over reporting they had previously helped their children purchase a home.
Different states, different strategies
While parental support is common across the country, the level and form of assistance vary by state.
In NSW and Victoria, 56 per cent of parents have helped or expect to help their children buy a home, compared with 49 per cent in Western Australia and 47 per cent in Queensland.
Western Australian parents are the most likely to provide direct financial support, with 63 per cent contributing cash towards a deposit.
Queensland parents, meanwhile, are more likely to assist by allowing their children to live at home rent-free.
The expected age at which children leave home also differs across the country, ranging from 27 years old in South Australia to 23 in Tasmania.
Affordability keeps family support in demand
The findings come as housing affordability remains under pressure across much of Australia.
According to Cotality, saving a standard 20 per cent deposit now takes almost 12 years nationally and more than a decade in Sydney, Adelaide, Brisbane, and Perth.
While housing price growth has moderated in recent months, national dwelling values were still 8.8 per cent higher over the year to May, with stronger growth recorded in markets such as Perth and Brisbane.
Governments have attempted to improve access to home ownership through a range of first home buyer initiatives, including the 5 per cent Deposit Scheme, which has helped more than 300,000 Australians purchase a home.
However, not every family is in a position to help. More than a quarter of parents (28 per cent) said they would like to support their children into the property market but could not afford to do so.
Crellin added: “What we’re seeing is that families are playing a bigger role, but equally important is getting the right advice. A good broker can help navigate guarantor structures, lending strategies and government schemes to make home ownership achievable sooner.”
[Related: Connective launches 2% deposit home loan with Skip]
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