RBA sounds the alarm over off-the-plan properties

Have you bought a property off-the-plan or are you looking at property that is not yet complete?  Read on;

The Reserve Bank of Australia has warned that settlement risk on apartments off-the-plan may have increased as a direct result of the stricter criteria that the banks are now applying to investor housing loans.

Some banks have expressed concern about this settlement risk on pre-sold apartments, particularly in light of the recent regulatory measures aimed at moderating investor demand, they they have also noted that pre-sale defaults have been very limited so far.

The Reserve Bank said a number of banks have already responded to this, and the risk of oversupply more generally, by tightening lending standards to apartment developers in the more “at-risk” areas.

If you want to know more about all the changes to investor lending and how it affects you or maybe you just want a second opinion on your current home loan, call our office today on (02) 9527 2230.

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Sutherland shire suburbs

Alford Point, Bangor, Barden Ridge, Bonnet Bay, Bundeena, Burraneer, Caringbah, Commo, Cronulla, Dolans Point, Engadine, Grays point, Greenhills Beach, Gymea, Heathcote, Illawong, Jannali, Kangaroo Point, Kareela, Kirrawee, Lilli Pilli, Maianbar, Oyster bay, Miranda, Sandy Point, Sutherland, Sylvania, Taren Point, Waterfall, Woolooware, Woronora, Yarrawarrah and Yowie Bay.

St George area

Allawah, Banksia, Bardwell Valley, Bexley, Beverly Park, Blakehurst, Brighton Le-Sands, Carlton, Connels Point, Hurstville, Kogarah, Kyeemagh, Kyle Bay, Lugarno, Monterey, Mortdale, Narwee, Oatley, Peakhurst, Penhurst, Ramsgate, Riverwood, Rockdale, Sandringham and Sans Souci.

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Annadale, Ashfield, Balmain, Birchgrove, Dobroyd Point, Dulwich Hill, Enmore, Haberfield, Leichhardt, Lewisham, Lilyfield, Marrickville, Petersham, Rozelle, Stanmore, St Peters, Summer Hill, Sydenham, Tempe, Camperdown, Croyden, Croyden Park, Hurlstone Park and Newtown.

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Coastal

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Inner City

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