The bank of mum and dad is when people rely on their parents for financial aid, particularly for housing purchases, with the director of the Centre for Equitable Housing at Per Capita Matt Lloyd explaining to Tom Elliott why it’s such a popular trend.

A nationwide survey by think tank Per Capita has revealed Australian home buyers believe the only way they will be able to afford a property is if they receive an inheritance from their parents.

The survey shows 85 per cent of non-home owners hope to buy their own property, but just 24 per cent think they will ever have the financial resources to do so.

Press PLAY to hear Matt Lloyd explain why people are relying on the bank of mum and dad 

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