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Canberra Experiences Rise in Property Stock Levels

By Ben Faulks

There has been a rise in the amount of available property stock across Canberra over the course of the past year, the latest figures from SQM Research have shown.

On a national basis, Canberra recorded the largest increase in annual stock levels, growing 5.2 per cent since April 2012, suggesting that more Belconnen apartments could be on the market.

Compared to the previous month there was a decline of 1.9 per cent, although none of the country's capital cities saw a rise over this period, the Property Observer reports.

Louis Christopher, managing director of SQM Research, emphasised that Canberra's property market is likely to have been affected by a number of factors over recent months.

The expert noted: "It is becoming clear now that these results of late have been more influenced by seasonality rather than cyclical factors.

"That suggests to me that the forces of demand versus supply in the national housing market are reasonably balanced right now."

In recent days, it emerged that property in Canberra had become more affordable, with figures from Australian Property Monitors showing that prices fell 0.4 per cent in the March quarter.

Median unit prices also declined, falling by 3.5 per cent over the three-month period.

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