The majority of first home buyers would be uncomfortable asking their parents for help to purchase property, a new survey suggests.
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In an online survey of more than 1000 people, Westpac found around two-thirds of first home buyers said they would feel bad about asking their parents for help.
On the other hand, Westpac acting manager of consumer banking and wealth Gina Dellabarca said close to a quarter said they would expect help from the older generation to get into a home, while 35 percent disagreed with that attitude.
"What the survey really indicated was that children still wanted to feel a level of independence so they weren't necessarily comfortable to have their parents help out."
Thirty-eight percent of the younger generation were concerned that help would come with strings attached.
The survey also found 55 percent of parents would be prepared to loan their children money for a home, with only 38 percent expecting to be repaid in full.
Ms Dellabarca said it showed a general willingness on the part of parents to help.
"I think they recognised that perhaps their children, they wanted to give them a hand-up into their first home."
Although more than half of parents were prepared to sign on as a guarantor for their children's home, the bank identified a lack of knowledge among first home buyers about that meant, which it said needed addressing.