No Go Lending Zones

Discussion in 'Loans & Mortgage Brokers' started by [email protected], 23rd Oct, 2019.

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  1. Paul@PAS

    [email protected] Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
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    18,485
    Location:
    Sydney
    Commercial finance provider Chifley Financial have indicated some lending concerns for developers in todays media:

    Sydney greenfield suburbs that are no-go zones for financing new developments include Schofields and Box Hill regions, Leppington, Badgerys Creek and Kemps Creek, Kurrajong Heights, Katoomba and Orchard Hills.

    Meanwhile in Melbourne, greenfield development sites in the suburbs of Plumpton to the Bacchus March corridor as well as Truganina to the west, Officer to the East and Cranbourne to the South are now off-limits

    This may also be a indicator for retail lenders for concerns about valuation due to over supply etc
     
    lixas4 likes this.
  2. Car tart

    Car tart Well-Known Member

    Joined:
    16th Sep, 2018
    Posts:
    832
    Location:
    Sydney-Melbourne
    I call BS on this article.

    Kurrajong Heights and Katoomba are definitely not Greenfield sites. So with such a glaring mistake and being heavily involved in Sydney’s North West where developers are buying up all the bargain land they can find, I feel the story is made up BS.