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