Low deposit mortgages help fuel first home buyer activity

First home buyers (FHBs) are maintaining a near-record market share, reaching 27% in July, according to CoreLogic. This high activity is primarily fueled by low deposit mortgages, with FHBs using the majority of banks' low deposit lending allowance.

Increased property listings are also providing buyers with more choice and contributing to weaker prices. While mortgage rates are expected to fall, a major market boom is considered unlikely due to the current economic recession and job losses.