First home buyer loans slowly increasing: PRD

First home buyers are creeping their way back in to the market, according to PRD Nationwide.

There were 26,250 FHB loans approved in the June quarter of 2019, still -7.6 per cent down over the last 12 months, however a much improved figure than the -11.6 per cent decline between the March quarter 2018 and the March quarter 2019.

PRD Nationwide's key market indicators Q4 2019 showed 8,500 of the 26,250 first home buyer loans came from Victoria.

New South Wales saw the second most FHB loans signed off (6,822) and Queensland in third with 4,755.

The first home buyer approval rate increase was combined with an improvement in home loan affordability, particularly in NSW and Victoria.

It was Western Australia however which saw the highest improvement in housing affordability (6.7 per cent) over the last 12 months to the June quarter of 2019.