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The AFR has delivered another warning on how off-the-plan apartment buyers are in trouble following the effective speed limit placed on investor mortgage growth by APRA, APRA’s higher capital requirements on the banks’ mortgage books, and the tougher lending policies implemented by the banks:
Many property investors are considering forfeiting deposits rather than having to take out additional loans or find more funds to bridge gaps up to 20 per cent of the property value, warns Peter Ristevski, a partner with Chan & Naylor, a national advisory group.
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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.
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