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Royal Commission could spell promising news for first home buyers

The banking Royal Commission could see some good news for first home buyers, with lenders expected to tighten regulations on who can borrow funds.

It’s believed tightening lending criteria could make it harder for people to take out loans which would help push down property prices.

Head of Research at Core Logic Tim Lawless tells Ben Fordham it’s looking more promising for those trying to get into the property market.

“When you look the former numbers for first home buyers, proportionally they’ve doubled across NSW. They’re really taken advantage of the stamp duty concessions.

“When you look at the actual changes in home values across Sydney, we’ve seen dwelling values fall by a little bit more than four percent.

“Maybe the bad news here for first home buyers is that all this additional demand coming into the market around that lower price point is actually holding prices up.”

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