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
First home buyers (FHBs) are maintaining a near-record market share at 27%, according to CoreLogic. This high activity is largely fuelled by low-deposit mortgages, with two in five FHBs purchasing with less than a 20% deposit.
Increased property listings are also helping buyers by providing more choice and weakening price pressure. While mortgage rates are expected to fall, experts suggest a new housing boom is unlikely due to the current recession and job market conditions.
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