Our Backyard – Aireys Inlet

Much of the media recently has centred on the banking royal commission and its findings which were released earlier in the week.

Since the royal commission began in March 2018, bank lending practices have been under enormous scrutiny. The negative publicity surrounding the banks forced them into action as they cracked down on borrowers living expenses by assessing their ability to repay their home loans.

The good news is that Kenneth Haynes final report into the finance sector did not recommend the banks further tighten lending practices. Many believe the findings of the report will bring about certainty to the market and will see lending return to a level playing field.

The fallout has begun in the banking sector already with both National Australia Bank chairman and chief executive sensationally resigning on Thursday night. No doubt there will be more to follow.

In more local news, 8A Anderson Street is under contract after less than one week on the market and the property I referred to in last week’s Sneak Peek is also under offer and acceptance prior to going to market. As I have been banging on about for a while, anything beach side of the Great Ocean Road under $1m (and correctly priced) is moving.

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James Worssam

james@greatocdeanroadrealestate.com.au

0418 585 815

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