While the fallout for the banks in terms of public relations and enhanced scrutiny thanks to underwhelming performances on the stand from senior figures and a myriad of allegations and confirmed misconduct will be long lasting, if anything from a structural and penal point of view, they seem relatively unscathed compared to the untold damage likely to be done to a swathe of small business should some of the recommendations of the report be upheld.
CFMG Capital have now completed the acquisition of the 6.4ha site that will become Lomandra Park, Bridgeman Downs. The site was contractually secured in 2017 and after a development application process during 2018, the $37million development was approved by Brisbane City Council prior to Christmas, allowing CFMG Capital to commence the settlement process.
A surge in property speculation by leveraged self-managed super funds amid sliding house prices in the nation’s biggest cities has sparked concerns among the powerful Council of Financial Regulators that many may be in over their heads.
Demand for house and land packages in the Gold Coast corridor is on the rise, as buyers look for traditional detached homes on family-sized lots and without the inner city price tag.
In the past 10 days alone, I’ve heard interest rates are rising, interest rates will hold for at least 2 more years and even that they could crash again to stimulate a soft market stuck in regulatory purgatory thanks to the Hayne Royal Commission.