Connect with us

Local News

Bank of mum and dad bankrolling more property purchases as Sydney housing market heats up



Young Homebuyer Case Study

Mary Jekki-Acosta (front) was able to get a brand new home with the help of her parents-in-law Francisco Acosta and Maria Elena Montaez. Picture: Toby Zerna

Cashed up parents bankrolling their children’s property purchases are fast becoming a formidable force at Sydney auctions.

Real estate agents and mortgage brokers are seeing a surge in the number of parents providing financial support to help their kids buy due to a fear of missing out fuelled by rising house prices.

The support from the bank of mum and dad is enabling many young house hunters to become an unstoppable force by having additional cash to fend off high levels of competition for property at the moment.

MORE: Inside Karl Stefanovic’s waterfront mansion

Celebs flock…

Click here to view the original article.

Continue Reading

You might also like ...

Thank you to The Johns Family for the donation of Andrews gear signed by Andre…
Anyone willing and able to help apply for this?Does your organisation need fun…