The bank of mum and dad has injected more than $2.7 billion into the property market in the past year as around 15 per cent of borrowers tap their parents for financial help.

That’s the conclusion of analysis conducted by Jarden economists, who surveyed 282 mortgage brokers and found that assistance from family members contributed 1 per cent of new lending, with homebuyers in NSW the biggest beneficiaries. They received, on average $92,000 from their parents for the purchase of homes, Jarden found.