'Restricted postcodes': NAB names suburbs where credit risk getting worse

Discussion in 'Loans & Mortgage Brokers' started by christos, 28th Sep, 2015.

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  1. Dazedmw

    Dazedmw Well-Known Member

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    According to SQM Research the vacancy rate in Post Code 3067 went from about 1.0% to 9.3% in the last 2.5 years. That would suggest a lot of building.
     
    Dazedmw, 28th Sep, 2015
    #21
  2. Gockie

    Gockie Life is good ☺️ Premium Member

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    How about postcode 2046? Different kettle of fish I'd bet.
     
    Gockie, 28th Sep, 2015
    #22
  3. Simon Hampel

    Simon Hampel Founder Staff Member

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    Seriously? Have you not see the amount of development through this region?

    Like I said in my previous post - most of the suburbs I saw listed are all ones where there are a lot of new unit developments.
     
    Simon Hampel, 29th Sep, 2015
    #23
  4. Waterboy

    Waterboy Well-Known Member

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    It could be that NAB is overexposed to these suburbs already. They just want to minimise risks.
     
    Waterboy, 29th Sep, 2015
    #24
  5. THX

    THX Well-Known Member

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    This sounds more likely than a sign of impending doom.
     
    THX, 29th Sep, 2015
    #25
  6. ej89

    ej89 Well-Known Member

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    Should we be worried if we have an IP in one of these cat B suburbs?
     
    ej89, 29th Sep, 2015
    #26
  7. charpj

    charpj Well-Known Member

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    With regards to Abbotsford, would have to be the number of current and newly finished apartments - as the risk, not the income side. I remember reading about the demographic, alot of young professional DINKS have moved in in the last 10+ years.

    The stock is the risk in this suburb, on that. When you venture towards Victoria Gardens - that green field site? has been at ground level for years, anyone have any info on this? Just in that direct area 1'000's of tiny apartments have sprung up in recent years.
     
    charpj, 29th Sep, 2015
    #27
  8. Tekoz

    Tekoz Well-Known Member

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    yeah, surprisingly no one mentions Edmondsons Park, Oran Park and Jordan Springs :D
    So I guess those area was the good deal for H&L package in South West Sydney despite auction clearance rate drops sharply.
     
    Tekoz, 29th Sep, 2015
    #28
  9. acorn123

    acorn123 Well-Known Member

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    @Tekoz:
    Yes, you can borrow 90% from NAB for Edmondsons Park, Oran Park and Jordan Springs, which are not NAB risky areas (~$ million H&L packages):D.
    Don’t forget “sarcasm ” in my post;).
    ----

     
    acorn123, 29th Sep, 2015
    #29
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  10. mrdobalina

    mrdobalina Well-Known Member

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    The Group A suburbs for WA are all mining towns. I'm surprised they would even go up to 70% lvr in those places. The risk is off the charts.
     
    mrdobalina, 29th Sep, 2015
    #30
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