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Signs show property prices may now be levelling off

As strong as the property market has been in Australia in the past two years, worries have almost constantly been airing - particularly lately - that the sector was accelerating at an unsustainable level.

In recent months, the nation has been named as one of the top three in the world when it comes to unaffordable properties. 

However, according to a new study released by the National Australia Bank (NAB), prices may start to mature and level off in the months ahead, with more homes being built and low interest rates helping to shut the supply and demand gap and allow more people to get on the ladder.

NAB global head of research Peter Jolly told Sydney Morning Herald: “A better balance should eventually also show up via a slowdown in house price appreciation,” saying that a better level of construction should help to make the market more sustainable.

In recent weeks, it has been reported that there are now apartments being built across key cities in Australia, which bucks the trend for larger detached homes normally seen in the nation, and allows for the supply and demand issue to be tackled.

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