Business
BoQ takes $175m provision for souring loans – The Australian Financial Review
Bank of Queensland modelled the impact of the coronavirus pandemic on employment, falling house prices and the “increased duration” of the economic downturn.
It expects property prices to have fallen 6 per cent over the same period, and a 5 per cent fall this financial year, before a rise of 5 per cent in 2022.
Commercial property prices are expected to have fallen 10 per cent , and a further 5 per cent over the coming year.
The lender has given a 20 per cent chance to a steeper 7.5 per cent fall in unemployment, a 10 per cent fall in property prices in 2020 that will extend to a further 7.5 per cent decline over the coming year, and a 15 per cent …
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