While some first home buyers wanting high LVR loans have been affected by the restrictions, banks have given priority to first home buyers within their 10 percent speed limit. Figure 3 shows that over the past 2½ years the share of first home buyers in real estate transactions has been around 21 percent-its level in early 2013.
Over this period, first home buyers have taken out nearly $ billion of mortgage loans from the banking system, with 28 percent of that lending at LVRs greater than 80 percent.