Saving for a home deposit in Australia has never taken longer. According to Cotality, it now takes almost 12 years nationally to save a standard 20 per cent deposit — and even longer in Sydney, Adelaide, Brisbane, and Perth.
With that kind of timeline, it is no surprise that family support has become a major part of how Australians get into the property market.
What the research shows
New data from national mortgage broker Resolve Finance reveals that 53 per cent of Australian parents are either currently helping or planning to help their children purchase a home. Nearly half (48 per cent) are contributing cash towards a deposit, while 43 per cent are letting their children live at home rent-free to accelerate savings.
More than a quarter (27 per cent) are stepping in as guarantors on their children’s home loans, and 16 per cent are providing interest-free loans. Some families (around 8 per cent) are even looking at building granny flats or dual-occupancy dwellings as a longer-term housing solution.
The average age parents now expect their children to leave home is 25.6 years — a reflection of how long it takes to build a deposit in the current market.
How family support differs across Australia
The type and level of help parents provide varies significantly by state. In NSW and Victoria, 56 per cent of parents have helped or plan to help, compared with 49 per cent in Western Australia and 47 per cent in Queensland.
Western Australian parents are the most likely to contribute cash directly, with 63 per cent providing funds towards a deposit. Queensland parents tend to support by offering a rent-free home for longer. And the expected age children leave home ranges from 23 in Tasmania to 27 in South Australia.
What this means for you
Family help can take many forms — and not all of them require handing over cash. Guarantor arrangements, for example, allow parents to use equity in their own property to help their children avoid lenders mortgage insurance (LMI) without giving away savings.
Government schemes like the 5 per cent Deposit Scheme have also helped more than 300,000 Australians purchase a home with a smaller deposit. Combining family support with the right lending strategy can make a real difference to how soon you get into the market.
That said, not every family is in a position to help. The research found that 28 per cent of parents would like to support their children but cannot afford to do so. For those buyers, working with a broker to explore all available options — low-deposit products, government schemes, and alternative savings strategies — is especially important.
If you are a first home buyer wondering how to get started, or a parent thinking about how to support your children, talk to a Finance Hub broker. We can walk through what is realistic for your situation — call 0430 11 11 88 or visit finhub.net.au.
Source: Broker Daily, 3 June 2026
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