Average deposits have remained fairly stable, with Q3 2016 reflecting an average deposit of 15.4% of purchase price relative to the 15.9% in Q3 of 2015, the group said.<\/p>\n According to ooba, applications from customers requesting 100% bonds declined from 51% in Q3 2015 to 44% in Q3 2016, signalling that home buyers are increasingly aware of the importance of a deposit to secure a home loan.<\/p>\n First-time home buyers remain the most significant contributor to home loan volumes, making up 53% of all ooba\u2019s applications in Q3 2016, up by 1% from Q2 2016\u2019s 52%, and unchanged from Q3 2015\u2019s 53%, it said.<\/p>\n The average interest rate relative to prime on all business concluded by ooba in Q3 2016 was prime plus 0.45%, which is up from prime plus 0.32% in Q3 of 2015.<\/p>\n “This is indicative of increased bank risk and costs of funding,” ooba said.<\/p>\n More on property<\/strong><\/p>\n How much money the average house costs a first-time buyer in South Africa<\/strong><\/a><\/p>\n Buying a house in SA just got harder as banks raise deposit requirements<\/a><\/strong><\/p>\n![\"ooba-infographic\"](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/10\/Ooba-infographic.jpg\")
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