Low deposit mortgages help fuel first home buyer activity

First home buyers (FHBs) are maintaining a near-record market share, according to CoreLogic. This high activity is fueled by low deposit lending, with two in five FHBs purchasing property with less than a 20% deposit.

Buyers are also benefiting from an increase in available listings, which provides more choice and contributes to softer house prices. While mortgage rates are expected to fall, supporting the market, a new boom is considered unlikely due to the current recession.