PHOTO: Banks have clamped down on lending to investors, under pressure from the regulator and the financial services royal commission. Photo: James Alcock
The number of new apartment approvals has fallen sharply as investors struggle to get bank loans and remain cautious about falling dwelling prices.
The amount of apartments approved dropped 49 per cent in the December quarter 2018, compared to the same period a year earlier, official figures on Monday showed.
It comes as banks have clamped down on lending to investors, under pressure from the regulator and the financial services royal commission.
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