Sons Receive Substantially More Parental Support for Home Deposits Than Daughters
New research highlights a gender disparity in financial assistance from parents, with sons getting £13,000 more on average.
- Sons receive an average of £65,004 from parents for home deposits, while daughters get £51,671.
- Parental support accelerates home purchases by six years for recipients compared to those without help.
- Higher education and wedding costs for daughters may contribute to the financial disparity.
- Nearly 80% of first-time buyers in London had parental assistance, with some parents even selling homes to provide support.
- Parental interference in the home-buying process is common, with half of recipients experiencing it.