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.

Person trapped after car crash in Stanthorpe

TRAPPED: Crews are working to free the person who remains stuck in the vehicle.

Crews are responding to two-vehicle crash

Town Hall toilets to take final flush

FINAL FLUSH: Southern Downs Regional Council have moved to demolish the public toilets in the Warwick Town Hall car park.

SDRC move to dump facility

Silver mine set to be revived

WATER WORKS: Man working at a sluice possibly relating to tin mining near Stanthorpe, ca. 1875.

The Granite Belt polymetallic project could soon be revived

Local Partners

Ben Stiller and Christine Taylor split after 17 years

BEN Stiller and his wife Christine Taylor have called it a day in a joint announcement.

Why The Voice hasn't produced a star

Boy George responds to Brittania Clifford-Pugh's heart-warming message.

It's the industry, not the show, says Boy George

These actors hated their movies and didn’t mind admitting it

Channing Tatum and Marlon Wayans in a scene from GI Joe: The Rise of Cobra.

Every year, Hollywood blesses us with plenty of God awful movies.

Miranda Kerr and fiance hang up backyard tent for wedding

The decorators and caterers are arriving for the final preparations for the wedding of Miranda Kerr and Evan Spiegel. Pictures: Splash

Evan Spiegel and Miranda Kerr are set to marry today

Book review: Mia Freedman's book meets her critics head on

I appreciated Freedman's blunt honesty in the book

Model Bella Hadid's see-through dress shocks in Cannes

US model Bella Hadid attends the Cinema Against AIDS amfAR gala 2017 held at the Hotel du Cap, Eden Roc in Cap d'Antibes, France, 25 May 2017.

It’s like she’s become addicted to shock value.

Man's amazing comeback from monster crisis

Pat O'Driscoll agents Penny Keating and Doug Webber sold 56 Agnes St, The Range at auction over the weekend.

NOT long ago, he sold his possessions to pay staff. Now he's back.

Report reveals progress on $319m airport upgrade

Aerials of the Sunshine Coast.Jetstar plane in front of the Susnhine Coast terminal, Sunshine Coast Airport.

Over two dozen government approvals needed for airport expansion

Lost dough leaves sour taste after company collapse

Kathleen and John Mahoney from Sugar and Spice Bakery were stung after the collapse of Cantro Pty Ltd and are still owed money.

Supermarket operator collapse leaves sour taste for bakery

Open for inspection homes May 25-31

Check out this weekend's homes open for inspection

How Toowoomba house prices compare in Australia

For sale sign in front of home.

Here's what $700,000 will buy you in Toowoomba, Brisbane and Sydney

Ready to SELL your property?

Post Your Ad Here!