Australia Tightens Lending Criteria in Favour of Reliable Borrowe


Property prices have begun to drop in all of the main Australian cities, including Sydney, causing banks to tighten up on lending. The Commonwealth Bank of Australia reduced its exposure to apartment developers by more than AU$1bn (£546m) last year, which equated to 23% of the market. Overall lending to property investors grew just 0.5% last year compared to 7.5% growth for owner-occupier loans which was 4.4% higher than a year ago.

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Created by gloriaperkins 3 weeks 6 days ago – Made popular 3 weeks 4 days ago
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