Fair call Nord, i'm certainly not at the coal face to comment on specifics, but anecdotally tightening has been occurring for far longer than a year. Post 2008 it's been tough to get LVR over 80% unless you want to pay a small fortune for LMI. Even then anything beyond 90% has been no chance from what i've heard.
Personally, Im not concerned about contagion if we have a 10% pullback. That's simply par for the course, we just haven't seen it in a while so easy to forget.
(20min delay)