The Meeting Place

Shocking if true

I can't find any details to confirm this but a friend phoned last night to say that his postcode of 4671 is to affect his house sale price.

He has a property outside of Gin Gin Qld and because of the postcode, any potential buyer must have 40% deposit. Yet if he lived at 4670 postcode (Bundaberg and about 25-30Kms around it) the deposit is only 10%.

He is 55kms from Bundaberg approx, Gin Gin is 45kms and the another town of Sth Kolan is 24Kms.

A royal commission into the banks, now the Govt is jumping all over the banks to fix their rip offs and getting money for what they haven't done, so the Banks are going to pick on the little people. Sounds about the norm, little people getting screwed again.



Lenders assess loans differently depending on the location of the property being offered as security. They apply stricter lending policies in high risk locations to limit their risk.

Each lender has a guide that assigns a category for each postcode in Australia. There are typically five categories:

• Metro Plus: Established properties in well sought after metropolitan locations. Very low risk.
• Category 1: Metro areas, capital cities in each state & major regional centres with a large population. Generally considered to be low risk.
• Category 2: Medium sized regional centres. Considered to be low to medium risk.
• Category 3: Smaller towns with fluctuating property markets. Considered to be medium to high risk.
• No Category / National Locations: All other postcodes that aren’t included in the above categories. Considered to be a very high risk.
• High Density: Inner city suburbs or areas with high rise residential buildings. High density units in these areas are considered to be very high risk.

NB: The postcode calculator's response for 4671 "This is a high risk location."

More here ...

And it is not only bank loans this applies to but insurance too, regardless of your actual individual risk.

Statistics are a mathematical certainty.