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AMP Apartment Black List Suburbs FYI

Discussion in 'General Property Chat' started by jins13, 23rd Mar, 2016.

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  1. jins13

    jins13 Well-Known Member

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  2. Azazel

    Azazel Well-Known Member

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    None in ACT? Buy buy buy!
     
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  3. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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  4. WattleIdo

    WattleIdo renovating Premium Member

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    I really hope we don't lose our beautiful terraces in Sydney.
     
  5. melbournian

    melbournian Well-Known Member

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    i'm living in one of the blacklist :)
     
  6. Depreciator

    Depreciator Moderator Staff Member

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    Queensland is way out in front.
     
  7. Tony3008

    Tony3008 Well-Known Member

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    "Under the new lending arrangements, loan-to-value ratios are up to 90 per cent, there is a maximum of two apartments per borrower on any development, rental guarantees will not be accepted and a cap of 25 per cent of any individual development, or 10 units, which ever is the bigger."

    More like prudent lending than blacklisting IMO
     
  8. mcarthur

    mcarthur Well-Known Member

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    Go Logan - everyone for apartment's in Logan! (just don't jump over the line to Slacks Creek...)
     
  9. Tyler Durden

    Tyler Durden Well-Known Member

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    WAYYYY out in front. Don't have to be very good at mathematics to work it out either as the QLD government have kindly plotted it out. Would be even more telling if we had access to the Q3 and Q4 2015 numbers.

    Screen Shot 2016-03-23 at 5.36.26 PM.png

    Reports: Residential land development activity profile, local government areas (QGSO, Queensland Treasury and Trade)

    BCC, Moreton and Logan all make for interesting reading, especially for anyone who knows how much Queensland "built into the boom" during '07/'08. Councils, developers (big and small) and builders all know how to make hay while the dollars are flowing in. Check out the lot approvals for smaller projects in BCC - up 40 to 100% + on 2007 numbers.
     
    Last edited: 23rd Mar, 2016
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  10. Carrytrader

    Carrytrader Active Member

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    Their money, their rules.
     
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  11. Azazel

    Azazel Well-Known Member

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    Boy oh boy.
    I guess it's good for the economy - for now - but bad for purchasers or current owners.
     
  12. Warrenkh018

    Warrenkh018 Member

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    This list does not surprise me. I too have a property in the listed suburb - south Melbourne, except its a 2 bed house - one of those single front vic style one. Its hard, not able to increase rent for like 2 years now. Alot of competition from brand new apartments.
     
  13. Tekoz

    Tekoz Well-Known Member

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    Yeah, even they mentioned about Park Ridge QLD 4125 :cool:.

    It only applies to apartment not a house.
     
  14. Chilliblue

    Chilliblue Well-Known Member

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    I would hate to be a bank these days. You are criticized for giving money away like lolly water and when you believe that too much of your money is tied in area and stop financing additional properties based on your risk tolerance you get slapped around again.
     
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  15. melbournian

    melbournian Well-Known Member

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    Well south melbourne has been home to the 2 block series (park st and dorcas st). The one in park street is still selling for millions though that's not the norm.
     
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  16. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    I received an email from AMP last night in regards to this:

    What this is saying is they're still lending in these suburbs but they might require a lower LVR or deem the overall application too risky and decline it when considering other elements of the application.

    I haven't tested this recently.
     
  17. Plutus

    Plutus Well-Known Member

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    Bought in 4000 a few months back via NAB and got stung with LMI at 80% LVR. Happy with what I got vs what's coming on the market nearby (huge price premium) but somewhat annoying of them.

    For some "interesting" happenings in Brisbane have a look at the development map around Woolloongabba - what an amazing coincidence that there is so many projects in varying stages of approval and development around the Brisbane Metro south side pickup point (the red line), a $1.5b infrastructure proposal that was only publicly announced 2.5 months ago. A pessimist might wonder if these developers have access to insider info.
    [​IMG]