Original article by Michael Roddan
The Australian – Page: 1 & 6 : 16-Nov-18
Apartment developers are increasingly having to seek funds from non-bank lenders as the major banks cut back on lending to the sector. The Reserve Bank’s deputy governor Guy Debelle says it is a trend that the central bank is keeping an eye on, warning that if it is overdone it could lead to a downturn in the housing market. Urbis recently reported that only 46 units were sold in new Sydney projects during the September quarter, compared to 381 sales of units in the previous corresponding period.
RESERVE BANK OF AUSTRALIA, URBIS PTY LTD