Advertisement
From The Australian comes a warning from ANZ’s head of Australia, Mark Whelan, that the bank has dialed back lending to apartment developers in areas with an over supply, such as inner Melbourne:
“If you sit down here in the Docklands … and it gets to eight o’clock at night, there’s not many lights on in some of these apartment buildings so it’s a bit concerning. But we’ve been very cautious with some of those commercial developments for a long time”…
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement