News

Bank could add towns to 'high-risk' home loan list

GLADSTONE has been stuck on the National Australia Bank's risky lending hotspot list for more than a year and now more postcodes in the region could be added to that list.

Although NAB has not officially released data on areas it has red-flagged as risky, it's understood those looking to secure home loans in Rosedale, Rules Beach, Bororen, Turkey Beach, Foreshores and Biloela will need to stump up 30% deposits to get a loan.

>>Gladstone on bank's mining town 'risky' home loan list

RISKY: NAB is adding more towns in the Gladstone region to its high-risk list.
RISKY: NAB is adding more towns in the Gladstone region to its high-risk list. Kevin Farmer

A NAB spokeswoman said the bank took into account a range of "economic factors" before considering an area risky for lending.

"NAB ... regularly monitors the performance of local markets to ensure we continue to lend responsibly and sustainably," she said.

"We recognise that no two suburbs are the same, and there are some geographic areas which have been impacted by local conditions.

"We adopt strategies in these geographic areas that seek to reduce the risk to customers and our business," she said.

LJ Hooker's Mark Spearing said the latest areas did not traditionally have a high number of sales and would have little effect on the general market.

"It shows an interesting policy change from the bank because when there was a perception that some of these areas were overvalued they couldn't lend enough money," he said.

"They were falling over themselves to lend and perhaps they should have showed this type of fiscal restraint back then."

Mr Spearing said the volume of sales in Gladstone had increased, with one agent selling five properties last week.

AUSTRALIA'S HIGH-RISK LENDING HOT SPOTS |

NAB high-risk regions where "significant deterioration in credit risk has been observed."

Queensland: 4210 Guanaba, Maudsland, Oxenford; 4211 Advancetown, Beechmont, Binna Burra; 4680 Gladstone; 4717 Blackwater; 4720 Emerald, Yamala; 4740 Mackay; 4743 Suttor, Glanden; 4744 Moranbah; 4745 Dystart; 4746 May Downs, Middleount; 4805 Bogie, Bowen, Gumlu;

Topics:  bank gladstone gladstone region high risk nab


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Ipswich health boss out as board moves in 'new direction'

NEW DIRECTION: Outgoing West Moreton Hospital and Health Service CEO Sue McKee.

West Moreton health Chief Executive's shock departure

Pauline Hanson fires up over burqa ban question

Pauline Hanson... unhappy with questioning.

Robin Bailey compares burqa to Christian wearing a cross

Blank round may have been responsible for music video death

Johann Ofner and partner Kati Garnett

Mr Ofner may have been shot at close range

Local Partners

Lion roars to straight to No 1 at Aussie box office

Nicole Kidman, David Wenham and Sunny Pawar in a scene from the movie Lion.

THE Australian-made movie a hit, while Rogue One nears record mark.

Ozzy Osbourne fell asleep during his driving test

Not a good idea to give Ozzy a Ferrari

Kristen Stewart to host SNL

Kristen Stewart will host a pre-Super Bowl episode of SNL next month

Louis Tomlinson celebrated his son's first birthday

Louis Tomlinson and Briana Jungwirth celebrate son's first birthday

Kylie Minogue will take husband's name

Kylie Minogue will take her fiancé Joshua Sasse's surname

Nicole reveals her biggest parenting challenges

Actress Nicole Kidman.

Nicole Kidman says her kids are ‘deeply attuned' to her moods.

Why investors are flocking to Moranbah

Moranbah homes are selling like hotcakes, creating a supply problem

Investors are scrambling to get into the market

Stockland's $150m pitch: Build it and they will come

Gladstone Marina. The Gladstone Regional Council offers a range of exciting job opportunities. Photo Contributed: Murray Ware.

Here's why we need to see Stockland upgrade start soon.

By the water's edge

Secure your seachange

HOT PROPERTY: Money to spend on land, buildings

File picture.

Sale, leasing of industrial real estate picks up in Mackay

Collapsed Coast company could owe up to $5 million

Staff, ATO, landlords among those out of pocket.

Ready to SELL your property?

Post Your Ad Here!