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Australia's housing market now worth $10 trillion: ABS

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The total value of Australia's residential dwellings has passed $10 trillion for the first time. 9News

Australian Bureau of Statistics

This means the average price of residential dwellings in Australia now stands at $941,900, up from $925,300 in the December quarter in 2021.ABS Head of Prices Statistics Michelle Marquardt said over the past year, growth in median prices in regional NSW and Victoria had outpaced growth in their capital cities for both houses and attached dwellings.

The ABS said the value of all dwellings in NSW combined is now $4.1 trillion, which is 40.1 per cent of the total value of dwellings in Australia.New data from the Australian Bureau of Statistics shows the total value of Australia's residential dwellings rose by $221.2 billion in the March quarter.

 

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It's all going to crash and burn soon, hope all those who bought at the top of the boom have some money set aside for when their property falls into negative equity and their banks come knocking on their door.

No, it’s not WORTH 10 trillion nor is the dollar worth a dollar anymore.

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