Investor and offshore buyers underpinned much of the inner-city apartment growth seen across the major capitals in recent years.PROPERTY investors will be welcomed back at banks and could even see interest rates drop after the national regulator APRA today confirmed an end to its clampdown on housing loan growth. The Australian Prudential Regulation Authority (APRA) announced in a statement this morning that it would remove a 10 per cent benchmark on investor loan growth it had placed on banks in 2014 but warned it would also enforce stronger lending standards.The action had been taken after major concern over the surge in higher risk lending across the financial system, according to APRA chairman Wayne Byres.More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours ago“The temporary benchmark on investor loan growth has served its purpose. Lending growth has moderated, standards have been lifted and oversight has improved,” he said.“However, the environment remains one of heightened risk and there are still some practices that need to be further strengthened. APRA is therefore seeking assurances from ADI Boards that they will maintain a firm grip on the prudence of both policies and practices.”Lenders were informed of the move today, the APRA statement said, but each would have to three main criteria first.“In summary, for the 10 per cent benchmark to no longer apply, Boards will be expected to confirm that: lending has been below the investor loan growth benchmark for at least the past six months; lending policies meet APRA’s guidance on serviceability; and lending practices will be strengthened where necessary.”But don’t expect the heyday of investor lending to return any time soon, with APRA warning that lenders must “maintain prudent standards and close any remaining gaps in lending practices”.Those lenders who don’t meet the APRA requirements won’t be allowed to increase investor lending, the statement said.
Press Association Two tries from back rowers Dominic Ryan and Jack Conan had Leinster 12-0 up in as many minutes, with Tom Heathcote replying with a lone penalty before half-time. Heathcote had a disappointing night with the boot, though, and man-of-the-match Ryan’s 52nd-minute try coupled with a Ben Marshall score put Leinster clear before Tomas Leonardi and Mick McGrath swapped late tries. The only sour point for the hosts was that centre Ben Te’o’s debut only lasted 19 minutes as he picked up a hand injury, while Wallaby lock Kane Douglas was also forced off in the first half. Edinburgh made the trip without 20 players, 18 of whom are out injured at present, and were given little hope of claiming their first victory in Dublin in nine years. Flanker Ryan sneaked over for the opening try from close range, catching the Edinburgh defence off guard after they had initially done well to halt a third-minute maul. Jimmy Gopperth missed the conversion but was heavily involved, running hard and kicking intelligently to create early attacking opportunities for Luke Fitzgerald and Zane Kirchner. The Leinster out-half opened his account with a much better conversion of Conan’s effort on the right, as the young number eight shrugged off Leonardi’s tackle to coast over. Heathcote pulled his first shot at the posts – a 16th minute penalty attempt – wide, and three minutes later rugby league convert Te’o had to make way. The injuries kept coming for Edinburgh with prop Allan Dell limping off, but they deservedly got off the mark thanks to Heathcote’s 23rd-minute penalty. The Scots began to get Tim Visser involved as they built through the phases, a snappy break from Sam Hidalgo-Clyne giving them further momentum before Heathcote blundered with a second poor penalty miss. Leinster pressed for a try just before the interval but prop Tadhg Furlong was stopped short from Luke McGrath’s brilliant blind pass. Fitzgerald ignited the Leinster attack on the resumption by jinking past three Edinburgh players, however both sides were guilty of some aimless play during a turgid third quarter. Leinster lifted the intensity to create a second try for Ryan, a close-in penalty and line-out resulting in the Ireland hopeful crossing for a seven-pointer from a well-executed drive. The visitors hammered away during a prolonged spell near the Leinster line, but Ryan came up with the turnover after Darragh Fanning had thwarted Edinburgh captain Andries Strauss. The bonus point arrived for Leinster in the 63rd minute when a quickly-taken line-out saw replacements Isaac Boss and Peter Dooley pile through, and Tom Denton’s pass off the deck put his second row partner Marshall over for a converted try. Edinburgh deserved their 75th minute try as replacements Greig Tonks and George Turner made headway up the right touchline before the latter’s pass out of a tackle sent Leonardi clear for the corner. Leinster made sure they had the final say though, Gopperth and Fitzgerald combining to good effect as they sent replacement McGrath over for his second PRO12 try of the season. Leinster made it four straight wins in all competitions with a bonus point success against injury-hit Edinburgh at the RDS.