Low deposit mortgages help fuel first home buyer activity

First home buyers (FHBs) are maintaining a near-record market share, reaching 27% in July. This activity is driven by low deposit mortgages, with FHBs using most of banks' low-deposit lending allowance. Two in five FHBs now purchase with less than a 20% deposit.

Increased property listings are also helping buyers by providing more choice and weakening price pressure. While falling mortgage rates will support the market, a new boom is considered unlikely due to the current recession.