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.

Heatwave fatalities? Ambos' warn of heat stress danger

As the heatwave strikes, make sure you keep cool.

PARAMEDICS fear the looming Queensland heatwave could kill

Why old Telstra customers will lose service - permanently

TELSTRA will close its old 2G network on Thursday, December 1, meaning customers will need to upgrade to a more modern 3G phone.

What you need to know before Thursday

HEATWAVE: Towns to be scorched as temps pass 40°C

SUMMER is going to arrive at full force this week,

Local Partners

Car stolen from business

Police would like to talk to them in relation to a crime in Logan.

Man builds playground entirely out of packing tape

Artist Eric Lennartson is in the process of completing his huge tape sculpture at the Ipswich Art Gallery.

VIDEO:And here's where you can play on it.

Countdown to Woodford Folk Festival begins

ECONOMIC BOON: Woodford Folk Festival is celebrating its 30th anniversary this year.  Photo Contributed

The first larger-than-life inhabitants have stepped into Woodfordia

'I need to do what I can': 65km walk for cancer patient

Karlee Robinson is walking from Caloundra to Noosa for her cousin Aaron Parker, who has terminal brain cancer.

What do you do when someone you love has terminal brain cancer?

Jennifer Lawrence gives keys to new partner

Oscar winner Jennifer Lawrence

Oscar winner settling down with new partner

Rogue One star proud to lead new Star Wars film

Felicity Jones leads the new Star Wars film

Star Wars lead proud to be in front in sci-fi

What's on the small screen this week

Ernie Dingo stars in the TV series Going Places with Ernie Dingo.

ERNIE Dingo stars in a new travel series and Seven airs the AACTAs.

Mandy Moore feels like she's 60

Mandy Moore sees herself as a 60-year-old rather than a 32-year-old

Goooodbye Hamish and Andy (from our radios)

Hamish and Andy

The pair have been on air since 2006

David Attenborough on facing his mortality

Sir David Attenborough in a scene from the TV special The Death of the Oceans.

Life without Sir David Attenborough is hard to imagine

INSIDE STORY: Disused pipeline stops hundreds from building

TRAIL OF TEARS: Route of the disused Santos oil pipeline which is stopping hundreds of Ipswich residents from building.

Santos responds but Tully says easements issue must be addressed

Chinese locked out of Australian property market

The rules are different if you're a foreigner

The buyer was from China - the trouble started right there

Morrison signs off on new affordable rental model

Australia's Treasurer Scott Morrison speaks during a press conference after a meeting of the Council of Federal Financial Relations at Parliament House in Canberra, Friday, Dec. 2, 2016.

Scott Morrison signed off on development of a new financing model

Coast high-flyer's fight back from bankruptcy, $72m debt

Scott Juniper went from millionaire developer to declaring bankruptcy in2012, now he is back on top of his game again with new developments including this one in Coolum.

'Apocalyptic lending storm' causes financial collapse.

Ready to SELL your property?

Post Your Ad Here!