One in three first home buyers in New Zealand have received financial help from the Bank of Mum and Dad, new reports claim.

A Kiwibank study has found high property prices are keeping young people out of the market - meaning more Gen Z and millennial buyers have turned to parental support to get on the ladder.

Lesley Harris from the First Home Buyers Club says the Bank of Mum and Dad remains the nation's biggest lender for young buyers.

"We're seeing such a massive disparity between people's incomes and ability to purchase a home, which is completely different to what it was 20 or 30 years ago."

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One in three first home buyers in New Zealand have received financial help from the Bank of Mum and Dad, new reports claim.
A Kiwibank study has found high property prices are keeping young people out of the market - meaning more Gen Z and millennial buyers have turned to parental support to get on the ladder.
Lesley Harris from the First Home Buyers Club says the Bank of Mum and Dad remains the nation's biggest lender for young buyers.
"We're seeing such a massive disparity between people's incomes and ability to purchase a home, which is completely different to what it was 20 or 30 years ago."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Lesley Harris: First Home Buyers Club director on the Bank of Mum and Dad helping 1 in 3 Kiwis into first homes

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/12142ce3-fbba-43b9-8520-b23d003f45bb/transcript