Low deposit mortgages help fuel first home buyer activity

First home buyers (FHBs) are maintaining a near-record market share, making up 27% of property purchases in July. This strong activity is fueled by low deposit mortgages, with two in five FHBs buying with less than a 20% deposit.

According to CoreLogic, buyers also benefit from a 25% annual increase in property listings, which provides more choice and softens prices. While mortgage rates are expected to fall, a new housing boom is considered unlikely due to the current recession.