Australian Property

Banks pull Brisvegas loans as apartments tumble

David Llewellyn-Smith
Wednesday, 18 October 2017
Advertisement

Welcome to a little credit crunching, via Banking Day today:

Suncorp is tightening its lending standards for apartment buyers in the Brisbane property market following recent falls in real estate prices across the city.

In a memo sent to Queensland mortgage brokers on Tuesday, the bank said it would no longer accept investment applications for apartments in the Brisbane CBD and metropolitan area with loan to value ratios of more than 80 per cent.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
Twitter Share
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.