APRA REMOVES 10% GROWTH RESTRICTION ON INVESTOR LOAN GROWTH

APRA has announced that it plans to abolish the 10 per cent investor loan growth benchmark, as it has “served its purpose”.

As of 1 July 2018, lenders that have been operating below the 10 per cent investor lending growth benchmark will no longer be required to do so, provided the Australian Prudential Regulation Authority (APRA) is satisfied with their policies and practices.

The benchmark, which was introduced in December 2014, was introduced to improve lending standards, APRA chairman Wayne Byres said in a letter announcing the change.

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