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.

Coast amputee's progress has doctors stunned

A GoFundMe has been started for Sunshine Coast father, Jason Reynoldson, who lost his legs in a tragic accident last month.

Everything changed for Coolum man when he went fishing last month

Coast artist's niche, traditional 'hand carving' tattoo style

INK CULTURE: Artist Hori Kaz performs the traditional art of Japanese Tattoo, Tebori, at the Ink Attack Tattoo Convention.

Tebori means 'hand carving': this is what the tattoo looks like

Wilson's thrilling win at Tahiti ignites world title claims

CHAMP: Julian Wilson won the Billabong Pro Tahiti to move to fifth in the world rankings.

'I was already enjoying myself on tour but now even more-so.'

Local Partners