The Daily Mail reported on October 7 that a father in Melbourne spent $680,000 to buy a house for his daughter, who is still in school, because he was worried that she might not be able to afford a house in the future.
At last Saturday's auction, the father outbid two first-time buyers. He plans to rent out the two-bedroom property and wait until his daughter grows up.
Agent Luke Magree said the starting bid was $630,000.
"The property has been an investment property for the past 8 years and it has performed very well...... It's also very unique. ”
"There aren't many houses like this anymore."
(Image source: Daily Mail)
The property is expected to be rented out at $520/week. The sale sparked heated discussions among Australians, with many questioning whether parents' worries were overly stated.
One person said: "Is the pressure on parents greater than before? As if it weren't difficult enough for us to buy a house on our own, now we have to buy a house for our school-age children? ”
(Image source: Daily Mail)
Another said: "This speculator will live on the wages of his tenants while waiting for his daughter to grow up and join the ranks of the 'rich'." ”
Someone else said: "Of course, take care of your children no matter what, but at what cost? ”
"Now it's time to buy a house for a child who hasn't finished school. So what's next, buying a house for your unborn grandchildren and great-grandchildren? ”
(Image source: Daily Mail)
However, this is not the first time something like this has happened.
In North Bondi, one of Sydney's affluent suburbs, a father bought his daughter a home for $6.95 million.