Australia's housing market is now worth $9TRILLION amid absurd rise in house ...

Australia's housing market is now worth $9TRILLION amid absurd rise in house ...
Australia's housing market is now worth $9TRILLION amid absurd rise in house ...
Australia's housing market is now worth $9TRILLION amid absurd rise in house prices amid growing mortgage fears Value of Australia's 10.7million homes rose by five per cent in September quarter The increase equals a rise of nearly $1 trillion in the past six months, ABS said Property Council of Australia has raised fears about impact on home ownership Has blamed chronic undersupply, excessive taxes and charges for price spike

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Australia's housing market surpasses $9 trillion for the first time, home owners are worrying about the outlook for next year.

The total value of Australia's 10.7 million residential dwellings rose by five per cent or $487 billion in the September quarter to $9.3 trillion, the Australian Bureau of Statistics said on Tuesday.

'The value of Australia's dwelling stock has risen by nearly $1 trillion in the past six months,' ABS head of prices statistics Michelle Marquardt said.

The value of Australia's 10.7 million residential dwellings rose by $487 billion in the September quarter to $9.3 trillion

The value of Australia's 10.7 million residential dwellings rose by $487 billion in the September quarter to $9.3 trillion

'By comparison, the previous increase of just over $1 trillion took 15 months, rising from $7.2 trillion in the December quarter 2019 to $8.4 trillion in the March quarter 2021.'

The ABS residential property prices index shows house prices rose 5.7 per cent in the September quarter, while attached dwelling prices rose 3.1 per cent.

The index also shows prices rose 21.7 per cent over the year, the strongest growth since the series began in the September quarter of 2003.

The Property

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