Nearly half of first-home buyers in New Zealand are turning to the Bank of Mum and Dad for financial assistance to enter the property market, according to the OneChoice Kiwi Housing Trends Report 2.0. The survey of over 500 New Zealanders aged 18-39 found that 48% required family financial support to get onto the property ladder, highlighting the ongoing affordability challenges facing young buyers.

However, the reliance on parental assistance is creating intergenerational financial stress, with 70% of those who received help from their parents expressing concern about the pressure this places on their families. Personal finance experts are warning that parents need to carefully consider their own financial position and retirement planning before extending support to their adult children, as there are risks of disadvantaging themselves in the process.