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 heavily supported by low deposit mortgages, with FHBs using up to 80% of banks' low-deposit lending allowance.

According to CoreLogic, increased property listings are also helping by giving buyers more choice and weakening prices. While mortgage rates are expected to fall, a major market boom is considered unlikely due to the current economic recession and job losses.