Lowe was born in Sheffield, Yorkshire, and moved to Australia with her family in 2000. In her early teens, she signed to Chadwick Models but quit modelling in favour of acting.
Lowe's first roles were the short films Kindle, in which she played the lead role Hayley; Mirage, which was screened at the Montreal World Film Festival, and He. She. It., as well as a number of television advertisements before she graduated from The McDonald College in 2008.
Lowe's first substantial role was as the lead, Kate, in Beautiful Kate, which was released in 2009. For her role in Beautiful Kate, she was nominated for an AFI Award for Best Lead Actress. Her other credits include Natalie in the thriller film Blame, which was released in 2010. Blame was screened and received accolades at Cannes Film Festival, Melbourne International Film Festival, the 35th Toronto International Film Festival, the 47th Chicago International Film Festival and Buenos Aires International Film Festival of Independent Cinema.
In 2013, Lowe and her fellow McDonald College alumnus Rhys Wakefield co-wrote, co-directed, and starred in the short film A Man Walks Into a Bar... The film was a finalist at Sydney's Tropfest short film festival. Lowe and Wakefield previously worked together in the 2013 film After the Dark.
From 2013 to 2014, Lowe starred as Alice in Once Upon a Time in Wonderland, a spin-off of the TV series Once Upon a Time. The series ended after one season.
On 2 June 2014, Lowe was cast in the role of Lena in The Returned.
In 2015, Lowe starred in The Beautiful Lie, an Australian television series broadly based on Leo Tolstoy's novel Anna Karenina, playing Kitty Ballantyne, and filmed Waiting for the Miracle to Come, the feature film debut of Australian documentary filmmaker Lian Lunson. In 2016, she joined the independent Australian film Bloom, and Philip Noyce's thriller Above Suspicion.
Lowe is also a singer-songwriter, originally performing under the alias SOLO. In December 2013, she released a five-song EP named after her alias, released by the online music retailer Bandcamp. The music video for the song "Dreaming", one of the songs from the SOLO EP, was directed by actress and After the Dark co-star Bonnie Wright. She later dropped the SOLO name and performed under her real name. In November 2015, she released her second EP titled EP2, with seven songs.
Speaking to the media in October 2015, Lowe said she had a two-fold focus. When she had free time between acting, she tried to do as much music as she could. She stated that she would not give up acting for the sake of her burgeoning musical career. "There's no way I'm not acting," she said, "because that's my life."