Macquarie Bank has listed almost 50 risky postcodes for apartment buyers

Macquarie Bank is the latest to tighten lending for apartments, with a leaked list of “risky postcodes” throwing into question the viability of new projects in a long list of suburbs across the nation.

NAB has also cracked down on mining towns in Queensland and Western Australia, while Westpac has loosened its lending criteria to investors, bringing it back into line with the other banks. Home buyers planning to rent out their properties can now do so with a 10 per cent deposit with the bank, down from 20 per cent.

Finance Brokers Association of Australia President Peter White said Macquarie Bank’s list of risky suburbs may be more of a reflection of the diversity of the bank’s portfolio, and did not necessarily reflect the views of other lenders.

MACQUARIE’S BLACKLIST

NSW

Barangaroo 2000

Dawes Point 2000

Haymarket 2000

Millers Point 2000

Parliament House 2000

Sydney 2000

Sydney South 2000

The Rocks 2000

World Square 2002

Alexandria MC 2004

Eastern Suburbs MC 2004

The University of Sydney 2006

Ultimo 2007

Waterloo 2017

Zetland 2017

Concord West 2138

Liberty Grove 2138

Rhodes 2138

VICTORIA

Melbourne 3000, 3001, 3004

St Kilda Rd 3004

World Trade Centre 3005

South Wharf 3006

Southbank 3006

Docklands 3008

Chapel St North 3141

South Yarra 3141

South Melbourne 3205

QUEENSLAND

Brisbane 4000, 4001

Spring Hill 4000, 4004

Central Plaza 4001

Riverside Centre 4001

Waterfront Place 4001

City East (Brisbane) 4002

Wintergarden 4002

George Street 4003

Australia Fair 4215

Chirn Park 4215

Labrador 4215

Southport 4215

Benowa 4217

Bundall 4217

Chevron Island 4217

Gold Coast 4217

Isle of Capri 4217

Main Beach 4217

Surfers Paradise 4217

Broadbeach 4218

Mermaid Beach 4218

Mermaid Waters 4218

Nobby Beach 4218

Pacific Fair 4218

Aeroglen 4870

Barron Gorge 4870

Brinsmead 4870

Bungalow 4870

Cairns 4870

Cairns City 4870

Cairns North 4870

Earlville 4870

Edge Hill 4870

Freshwater 4870

More than 210,000 apartments are expected to flood into Melbourne and Sydney over the next two years, which is the equivalent to the existing number of apartments for sale, according to analysis by RP Data Core Logic, which analyses property sales and rents.