That is according to research from Barclays Property Insights, which found that nearly one in five owners (19%) had financial help to buy their current property.

This rises to 30% among first-time owners and 20% for second-timers, who received on average £76,239 and £81,451 respectively.

These are also often repeated gifts, as nearly three in 10 (27%) owners who had financial help for their second or third homes also got support for their first property.

Among those who received financial help, the most common forms of support were lump sum gifts from parents (39%), inheritance (27%, and loans from family or friends (13%).

The average age of a first-time buyer in England has risen from 32 just before the pandemic to 34 now, official statistics show.

Renters also told Barclays they need family support as half (52%) say they would find it impossible to buy a home without an inheritance or loan from a family member.

Barclays head of mortgages, savings and insurance Jatin Patel said: “Our latest data highlights a market in transition. Though first-time buyers are often thought of as the main beneficiaries of the bank of mum and dad, second-steppers’ reliance on family support underlines the impact of cost-of-living pressures on all sections of the market.

“Even as property prices remain a major challenge for first-time buyers, it is encouraging that improvements to affordability mean more renters are able to access the finance they need to become homeowners.”

Barclays data also shows that spending on rent and mortgages rose by 3.5% year-on-year in November, the smallest increase since January’s uplift of 2%.