Mortgaged investors are gaining on first home buyers, when it comes to property purchases

CoreLogic data shows they made up about 23 percent of sales, in the first three months of the year - up from around 21 percent in the previous quarter.

First home buyers dropped one percent, to 25 percent.

Chief Property Economist Kelvin Davidson, says lower mortgage rates reduce the top-ups investors need to make, to cover the mortgage.

He says when rates were at seven percent - those top ups for four or five hundred dollars a week - but now rates have come down, those top ups may have halved.