Australian Housing Market Now Valued At $6 Trillion

Buoyant market conditions have produced a strong result for Australia's property market with $2 trillion added to the market since 2009, bringing the total value of the market to $6 trillion, according to

research by CoreLogic RP Data.

CoreLogic RP Data Research Director Tim Lawless has said the Australian housing market reached a new milestone in July with the overall value of housing (excluding vacant land) hitting the $6 trillion mark.

He explained the debt held against that $6 trillion was only (approximately) $1.49 trillion (as at June 2015), so the value of the asset class is worth more than four times the debt held against it.