🏠, Parents are helping adult children into the property market

Published: Sat, 12/11/21

Hi ,

Now more than ever, many first home buyers in Melbourne are relying on their parents to get into the property market. Research indicates that more than a third of parents in Victoria provide financial assistance to their adult children to help them purchase their first home.

Property values in Melbourne continue to soar. In this June quarter, the median house price for Melbourne was $1,022,927. But don't be disheartened because with our help, we could have you in your dream home in no time and within your budget.

Real estate experts say that although young buyers are able to get home loans, many are being outbid at auctions. As such, parental support remains very important to help them get started in the property market.

Acting as a guarantor appears to be the most common way parents are lending a hand. Luckier still are purchasers who receive a financial gift in the form of a deposit from their mum and dad.

Many parents are also selling the big family homes and downsizing while the others have opted to gift money to their children instead of giving it at a later time in the form of an inheritance.

Drop us a line if you'd like to discuss your own real estate needs. We're here to help.

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Office hours over the festive season

As we approach the end of another year, please be advised that the Chamberlain Property Advocates office will be closed from 5pm on Thursday 23rd December 2021. We reopen on Monday 10th January 2022.

If your matter is urgent, call the office on 03 9686 2288, leave a message and we will get back to you. Alternatively, use the button below.

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In a market like this one, I’d want someone in my corner that I could trust, representing my best interests.

Would you?

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What our happy clients have to say...

We love it when we help our clients realise their hopes of purchasing a home they have fallen in love with.

Marlene is one of those lovely clients we were able to assist with a new home. This is what she had to say.

"I can’t thank Wendy (of Chamberlain Property Advocates) enough for her outstanding professional advice and assistance to support our endeavours to purchase a property in Melbourne. Wendy cut through the cacophony of advice from well-meaning friends and family, to focus on the essentials needed to achieve the goal. As our experience of the property market is Canberra-based, and over 20 years out-of-date, Wendy’s support through the process was essential to saving our sanity through an experience that for us involved a very steep learning curve on so many levels, including all the practical issues in purchasing property while living interstate. I could have rung the agent of the off-market property that we ended up buying, but I would not have done so because it was listed online as ‘under offer.’ Wendy at her dynamic best put in a call immediately after we discussed it, and as a result we were in the right place at the right time as the front runners for viewing the property when the previous ‘buyers’ had to pull out. Working to find a property with Wendy Chamberlain helps put you in the right place at the right time to secure the right property, and at the right price for you (sounds like advertising copy, but it is my lived experience working with Wendy over three memorable days culminating on 8 May in the purchase of our ‘dream’ home).

Best wishes, and my thanks for everything."

Marlene

Hear what our other happy clients have to say

Wendy's Tips

Looking at buying a property? Try to find something a little unique, something that will reflect your personality and your individuality. That might be a tree-lined street, alternatively the house might feature stained-glass windows, exposed beams or exposed brickwork. Look for characteristics or attributes in the suburb, street or property that you fall in love with. That way it will always be a pleasure to come home!

Happy buying!

Featured article: Living in Malvern East

Ever wondered what it's like to live in Malvern East or any other suburb for that matter? Check out our weekly suburb profiles via the link. This week we featured leafy Malvern East!

Read the full article here

Where is Wendy speaking next?

Wendy Chamberlain has been invited back as a guest speaker for Midday Panorama with Vilma Formosa on Friday, 24th December 2021. Tune into North West FM to hear Wendy discuss the current property market.

Find out how to Listen In here

The real estate market across Australia remains highly competitive for anyone seeking to purchase a home. Those selling property are now challenged to figure out how to get the best outcome as we head into Summer. It always pays to have an expert in your corner.

Whether you're a first time buyer, looking to sell your home or buy your next one, I'm here to support you.

Please call the office on 03 9686 2288, book a time to chat here or send an email to [email protected] and we can make a time for a confidential chat. Obligation free!

I'd love to help and make things easy for you too.

With gratitude,