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Property vacancies follow national trend

By Ben Faulks

Concerns have been raised recently that the nation could be suffering a property shortage, but the latest figures from SQM Research suggest this might not be the case. Releasing its July data, the group revealed that property listings have started to climb throughout the country.

On a national basis, the number of available homes has increased 4.2 per cent over the past year. Between June and July, the amount of properties for sale rose 3.8 per cent. Canberra's results aren't far from this level, as the capital posted a monthly increase of 4.8 per cent and a yearly rise of 4.1 per cent.

Although a number of factors are likely to have contributed to this trend, SQM Research's managing director Louis Christopher noted that changes in the investment market are starting to take effect.

"I believe the results do represent an indication that the measures undertaken by APRA in slowing investor demand are now having an impact on the market.

"At this stage it is too early to call the magnitude of the impact," remarked Mr Christopher.

Whether this continues to have an effect on the amount of real estate in Dunlop will become evident in months to come, but for the moment at least, there seems to be enough property available.

APRA announced at the end of last year that it would be taking action to kerb excessive amounts of lending to investors. Some analysts have suggested that this could be pricing other buyers out of the market at a time when they should be given all the encouragement they need.

As a result, loan affordability tests will be introduced for new borrowers, which will include an interest rate buffer of at least two per cent higher than the rate of the loan product.

If you want to buy or invest in Dunlop real estate, get in touch with the Ray White Belconnen team.

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