Australia’s property market has reached a new milestone, with the total value of residential real estate climbing to $11 trillion for the first time, increasing by $900 billion over the past 12 months, according to CoreLogic’s October Monthly Housing Chart Pack.
Despite this growth, national home values rose by just 1.0% in the September quarter, the softest quarterly rise since March 2023. The annual growth rate has also slowed to 6.7% from a high of 9.7% earlier in the year, indicative of a cooling market.
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