Australian Housing Worth Over $8 Trillion | Kanebridge News
Kanebridge News
Share Button

Australian Housing Worth Over $8 Trillion

As prices surge, so does the total value of the Australian residential real estate market.

By Terry Christodoulou
Fri, May 7, 2021Grey Clock < 1 min

For most it’s hard to visualise or consider $8 trillion, however, according to the latest estimations, the Australian residential real estate market sits just over that figure at $8.1 trillion.

According to analysts at CoreLogic, the surge in value follows the recent broad-based capital gains witnessed across the country, indicating many markets are now at their peak.

“The Australian dwelling market has reached fresh record highs for the past four months, but the end of April marked the first time the total value of Australian housing broke the $8 trillion dollar mark,” said CoreLogic head of research, Eliza Owen.

“This puts Australian residential property at around four times the size of Australian GDP, and around $1 trillion more than the combined value of the ASX, superannuation and commercial real estate stock combined,” said Ms Owen in a statement.

Pushing the value of homes over the $8 trillion mark is data showing that in the three months to April, national home values rose 6.8% – the highest quarterly dwelling growth rate since December 1988.

The increased valuation is good news for homeowners, now likely in a strong equity position, with the RBA estimating just 1.3% of housing loans to be in negative equity position, according to Ms Owen.

Alternatively, it means for Australians looking to purchase their first property, homeownership is being pushed further out of reach, despite record-low mortgage rates.

MOST POPULAR

Interior designer Thomas Hamel on where it goes wrong in so many homes.

Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.

Related Stories
By Robyn Willis
Fri, Aug 5, 2022 2 min

When people talk about making a seachange, chances are this is the kind of property on the NSW South Coast that they have in mind.

Open for inspection for the first time this Saturday, 24 Point Street Bulli offers rare absolute beachfront, with never-to-be-built-out north facing views of the ocean. Located on the tip of Sandon Point, this two-storey property is a surfer’s dream with one of Australia’s most iconic surf breaks just beyond the back wall.

On the lower floor at street level, there are three bedrooms and two bathrooms, including a family bathroom and an ensuite in the master suite. A fourth bedroom is on the upper floor, along with the main living area, and is serviced by its own bathroom. 

While this would make a spectacular holiday home, it is well equipped for day-to-day living, with a spacious gourmet kitchen and butler’s pantry set into the articulated open plan living area on the first floor. A separate media room to the street side of the property on this level provides additional living space. 

Every aspect of this property has been considered to take in the light and views, with high ceilings internally and spacious, north facing decks on both levels to take in views of rolling waves. If the pull of the ocean is irresistible, it’s just a 100m walk to feel the sand between your toes.

The house is complemented by a Mediterranean, coastal-style garden, while the garage has room for a workshop and two car spaces.

An easy walk to Bulli village, the property is a 20 minute drive from the major hub of Wollongong and just over an hour to Sydney.

 

Open: Saturday August 6 2pm-3pm Auction: Saturday September 3 Price guide: N/A but expected to exceed $5.3m paid in March for 1 Alroy Street 

Contact: McGrath Thirroul – Vanessa Denison-Pender, 0488 443 174