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 a CoreLogic report. This strong activity is significantly fueled by low deposit mortgages, with two in five FHBs purchasing property with less than a 20% deposit.

Buyers also benefit from more available listings, providing greater choice and weakening price pressures. While a housing boom is unlikely due to the recession, mortgage rates are predicted to fall, offering further support for the market.