Indeed, this is a point of concern which we have been highlighting on this blog page for a very long time - Adelaide needs reinvigoration, job creation, investment and infrastructure. Absolutely the last thing it needs is more cuts.
Total employment growth in Adelaide has already been negative for a period of time closing in on five full years, even before the impact of auto industry job losses takes its hold.
- 65 percent of property investors with Westpac loans are ahead on their repayments
- 90 plus day delinquencies are just 0.47 percent for the portfolio and only 0.37 percent for investor loans
- Westpac uses a serviceability buffer of 180 basis points over the standard mortgage rate of 5 percent