What impact would a student loans have on property prices?

The well-flagged move towards a student loans system seems 99% certain to be following the Australian model, with reports over the weekend suggesting students would have leave college with debts of at least €21k.

What will this mean for the property market?

Presumably it will push first-time buyers back two or three years (if it doesn’t push them out of the country), so does this mean we can expect a period where there are fewer FTBs for a few years?

If, on average, people who started university last autumn might tend to buy around 2017 and the ones from this year buy in 2018, will the students who start in 2010 (with loans to pay at the end) not buy until 2021?
(I’m absolutely making these figures up for illustrative purposes - I don’t know what the real time from graduation-to-FTB is.).

Any thoughts?