AMP ‘blacklists’ more than 140 suburbs for apartment lending Article of interest

ljgrealestate

More than 140 suburbs have been blacklisted for apartment loans by a non-major lender following fears of oversupply, off-the-plan sales and falling prices. According to leaked documents obtained by the Australian Financial Review, AMP explains its ‘black list’ is a “prudent” response to managing risks of oversupply, which could push down prices, rents and lead to defaults.

The ‘black list’ is primarily concerned with apartment developments consisting of more than 10 dwellings built near capital cities and inner-suburban areas, where there is a high volume of new or soon-to-be-completed developments.

Even suburbs more than 10-kilometres from Sydney’s CBD, such as Homebush and Arncliffe, have recently been added to AMP’s list as more and more apartments are beginning to be constructed in those areas.

According to the leaked documents obtained by the AFR, AMP borrowers will face tougher terms on the amount borrowed, the number of apartments purchased in a single…

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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