by Marshall Cobb - Head of New Projects
I hope you took a little time out on Wednesday to reflect on ANZAC Day, and also to enjoy the midweek break - wouldn't it be great if every Wednesday was a holiday!
Here are some interesting stories from around the traps...
> In great news for investors, APRA announced plans to remove its 10% benchmark on investor loan growth. The curb was introduced in 2014 as part of a range of actions to reduce higher-risk lending and improve practices. “In recent years, lenders have taken steps to improve the quality of lending, raise standards and increase capital resilience,” the regulator said. Read more.
> Property Investment Professionals of Australia has claimed that property is more affordable now than nearly 30 years ago, and said that other experts may not have been looking at the right numbers. Read more.
> The Banking Royal Commission continues, with the focus now shifting from how the bank treated consumers, to how they treated SMEs (small and medium enterprises). Unfortunately I expect that there will be more horror stories unfold over the next few weeks. Read more
Enjoy your weekend...
PS. We have some developer clearance sales this weekend in Carlingford and Thornleigh. Both projects just completed and there are a handful of properties that were unable to settle. The developers want them sold and the prices are very sharp! Don't hesitate to attend the inspections and negotiate hard.