Daughters are less likely to get help from parents to buy their way into the Australian property market and women will bear the most pain from the Reserve Bank’s sharp increase in interest rates.
Research to be released today from the Australian Housing Monitor shows the proportion of women drawing on their parents or their partner’s parents for financial assistance to buy a home has declined over the past six decades.
Between the start of this century and 2019, daughters received two-thirds of the assistance that was delivered to sons.
It found more than 45 per cent of men are keeping up with their mortgages without difficulty compared to 31.5 per cent of women.
Almost one in four women say it is a constant struggle to keep up with repayments while 18 per cent of men are in the same predicament.
“What is clear is that women, who are already less likely to own their own home or benefit from investment properties, and more likely to be trapped in unaffordable private rental properties throughout their lives, will be further disadvantaged in our housing market as the gender gift gap gives their brothers a bigger boost to buy their first home,” she said.