Sep 10, 2026 – 5.13pmThe number of first home owners in negative equity after buying under the expanded 5 per cent deposit scheme has jumped fivefold within a month, as the intensifying property downturn hits highly leveraged borrowers who bought near the top of the market.Research from property data provider PropTrack estimates 480 first home buyer households that accessed the 5 per cent deposit scheme between last October and June are in negative equity, meaning the market value of their home is less than the mortgage secured against it.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles