5 July, 2012 11:23


Fewer Gen Ys expect to ask their parents for help in buying their first home: RaboDirect

By Larry Schlesinger
Wednesday, 04 July 2012

There has been a marked decline in the proportion of Gen Y borrowers who expect to have to ask their parents to help them buy their first home, according to the 2012 National Savings and Debt Barometer compiled by RaboDirect.

Just over a quarter (26%) of Gen Y respondents surveyed in May this year by RaboDirect said they would need to get assistance from their parents to purchase a house or apartment, compared with more than a third (35%) in 2011.

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Generation Y refers to those people born in the late 1970s and early 1980s.

This increase in first-home buyer confidence comes with interest rates falling and affordability improving.

The most recent rate cuts have sparked a rush of new home buyers in Melbourne…

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