Parents have been warned against helping their children purchase an Australian property that is beyond their means.
Speaking to the Age, director of Landmark Financial Management Paul Little suggested that offering children assistance with Australian property investment could do more harm than good.
He said: "The message we give to older clients (is) if you are helping a child get used to a lifestyle they can't afford, you're not helping them in the long term.
"Ultimately they need to stand on their own two feet and live in the kind of house they can afford."
The comments come after the Real Estate Institute of Australia (REIA) president David Airey indicated that first-time buyers have been hit by the phasing out of the First Home Owners Grant Boost and the prospect of further interest rate rises introduced by the Reserve Bank of Australia.
Speaking to the Age, director of Landmark Financial Management Paul Little suggested that offering children assistance with Australian property investment could do more harm than good.
He said: "The message we give to older clients (is) if you are helping a child get used to a lifestyle they can't afford, you're not helping them in the long term.
"Ultimately they need to stand on their own two feet and live in the kind of house they can afford."
The comments come after the Real Estate Institute of Australia (REIA) president David Airey indicated that first-time buyers have been hit by the phasing out of the First Home Owners Grant Boost and the prospect of further interest rate rises introduced by the Reserve Bank of Australia.
