NOT MUCH PUR­CHASE ON PROP­ERTY LAD­DER FOOT­ING

Kalamunda Reporter - - Residential -

JUST over half of Aus­tralians think par­ents should help their adult chil­dren with a home de­posit.

For peo­ple hop­ing to rely on the “bank of mum and dad”, the news gets worse, with 60 per cent of par­tic­i­pants in an ECU sur­vey agree­ing par­ents should be will­ing to pro­vide a pal­try $1500 to help their kids get a foot on the prop­erty lad­der.

The univer­sity’s School of Arts and Hu­man­i­ties re­searchers sur­veyed 300 peo­ple about their at­ti­tudes to­wards giv­ing adult chil­dren money for a house de­posit, as well as a hol­i­day and med­i­cal pro­ce­dure.

They found more than 80 per cent of par­tic­i­pants agreed $1500 should be given for a med­i­cal pro­ce­dure com­pared to 15 per cent for a hol­i­day.

Lead re­searcher Deirdre Drake said two com­pet­ing themes emerged when par­tic­i­pants were asked about their stance.

“Those who agreed with giv­ing money to adult chil­dren com­monly cited the idea that par­ents should al­ways help their chil­dren, whilst those who dis­agreed with giv­ing money re­ferred com­monly to the idea that adults need to be re­spon­si­ble for them­selves,” she said.

Dr Drake said the re­search had im­pli­ca­tions for so­cial pol­icy de­vel­op­ment.

“Our re­sults sug­gest that gov­ern­ments need to be cau­tious about as­sum­ing that par­ents will sup­port their adult chil­dren fi­nan­cially; many par­ents are will­ing to do so, but not for ev­ery­thing and not in all sit­u­a­tions,” she said.

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