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1.Market Observations, 8.Was Sticky

24 Mar 2016 (AFR) – AMP ‘blacklists’ more than 140 suburbs for apartment lending

(24 March 2016, AFR, p71, by Duncan Hughes)

‘Apartments in more than 140 suburbs are on a confidential black list because of growing concerns about oversupply, off-the-plan sales, and, in some areas, falling prices, according to leaked documents. AMP Bank, the banking division of the largest financial services group that compiled the list, claims it is a “prudent” response to managing risks of “over-supply”, which could push down prices, rents and lead to defaults.’

Read more (and see the list of suburbs) at AFR.com (might need AFR login access, or try: AFR.com/trial)

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