Bank of mum and dad housing equity inheritance boost for kids could cost other Melbourne buyers | Philanthropy Australia [Video]

At 1 Mills St, Sunshine North, this pink-painted four-bedroom weatherboard house has a $630,000-$690,000 asking range – making it an affordable option for many first-home buyers.

Cashed-up first-home buyers bankrolled by the bank of mum and dad are poised for a major run at Melbourne’s housing market.

But it could come at the expense of their peers from less wealthy neighbourhoods and rental households, with fears parental support is driving up prices and squeezing some buyers out of the housing market entirely.

Research from Seer Data & Analytics, commissioned by Philanthropy Australia, forecasts Toorak households will typically pass $3.3m from one generation to the next this decade. Brighton households will shift $3.08m, between 2021-2030.

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Finder survey reveals amount parents are saving to help their children buy a home

Parents in another eight areas, mostly in …