New findings from St.George Bank reveal that 75 per cent of Chinese-born Australians are home owners, compared with 61 per cent of non-Chinese Australians. 

The research finds that Chinese-born Australians are motivated to buy their own home for family reasons. The research found that 94 per cent of Chinese-born Australian said the stability of living in their own home is important to their family. And 93 per cent said home ownership makes them confident for their family’s future.

St.George’s general manager for retail banking, Ross Miller, said, "Chinese culture is known to be family-oriented, and the research revealed Chinese-born Australians consistently place a high importance around family, particularly with owning bricks and mortar."

Chinese-born Australians are:

• more likely to have family help (33 per cent, compared with the national average of 19 per cent)
• more likely to have received a financial gift from their family (15 per cent, compared with the national average of 10 per cent)
• and twice as likely to have borrowed from family (21 per cent, compared with the national average of 10 per cent) to help purchase their first home. 

In addition, 62 per cent of Chinese-born Australians believe help from their family is imperative in assisting them to enter the property market, compared with 44 per cent overall.

Read more about foreign ownership:

Chinese demand for Australian real estate is declining

Foreign buyers account for 11% of all NSW home sales

Senate clears legislation to slug foreign owners with tax if they leave their properties vacant