6 in 10 first home buyers are cracking the market with a low deposit

First home buyers are successfully entering the property market, with nearly six in ten securing loans with less than a 20% deposit. This is possible due to bank allowances under the Loan-to-Value Ratio (LVR) rules.

According to Cotality data, FHBs held a strong 26% market share in January. The report also notes a rise in relocating owner-occupiers ('movers'). Additionally, more borrowers are now locking in longer-term fixed mortgage rates to secure their financial position.