Feature article
Low deposit mortgages help fuel first home buyer activity
CoreLogic’s August Housing Chart Pack uncovers the latest for first home buyers.
27 August 2024
AI summary
According to CoreLogic, first home buyers (FHBs) have a near-record market share of 27%, driven by low-deposit mortgages.
FHBs absorb most of the banks' low-deposit lending allowance, with two in five buying with less than a 20% deposit. An increase in property listings is also giving buyers more choice and negotiating power. While mortgage rates are expected to fall, CoreLogic notes a housing boom is unlikely due to the current economic climate.
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