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Banking royal commission impacting property prices as lenders tighten the rules

Article image for Banking royal commission impacting property prices as lenders tighten the rules

The banking Royal Commission is having an impact on property prices, as a result of tighter lending conditions.

Housing prices have dropped for the ninth consecutive month and are down more than 1% since last September.

Deloitte Chief Economist Chris Richardson tells Ross Greenwood changing behaviour by the banks is playing a role.

“These days the big banks are dotting I’s and crossing T’s in a way that they seemingly weren’t before and it means that you get the same borrowers… getting a substantially smaller loan.”

“No yet dangerous but certainly one of the things you should be keeping an eye on.”

Click PLAY below to hear the full interview 

Deborah Knight
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