Brighter And some

The Aussie property market just hit $10 trillion … again!

by Kate Watt, Marketing Manager 28 September 2023

Pop quiz: How many zeros are in the number $10 trillion?

We don’t know either!

But someone at CoreLogic can count that high, and they’ve recently reported the combined value of all Australian housing reached $10 trillion at the end of August.

Thinking you’ve read that headline before? You’re not wrong. In June 2022 Aussie property hit the $10 trillion milestone for the first time.

In some further big number news, Australia is now home to around 11 million properties, and the median home value in Australia has reached $732,886.

So how high will prices grow?

CoreLogic is thinking price growth is likely to moderate a little as buyers adjust to the higher interest rate environment.

Any rise in unemployment as economic conditions change could also affect borrowing ability, which would also soften price growth.

“CoreLogic is expecting some heat could come out of the recent recovery trend toward the end of this year, while a more robust recovery in housing values will be limited until credit conditions loosen,” they report.

Are your numbers telling you it’s time to make a move? View our current listings for sale or talk to us about selling.