First home buyers were slightly less active in September, with fewer of them buying a property, although on average those who did buy paid slightly more for them and took out a slightly bigger mortgage. The average size of the mortgages approved for first home buyers in September was $561,129, with 31% of those low equity mortgages where the buyers had less than a 20% deposit. The average size of the low equity mortgages approved to first home buyers in September was $630,277. Between January 2017 and September 2023 first home buyers' share of housing sales has increased from 21% to 37%. However that growth in first home buyers' market share is mainly the result of less activity by other types of property buyers, such as investors and existing home owners selling one house to buy another property.

Source: Stuff October 30, 2023 14:18 UTC