According to property researcher CoreLogic, the value of Australia’s residential housing market surpassed $9 trillion (U.S.$6.6 trillion) in September, just five months after reaching $8 trillion (U.S.$5.8 trillion). Housing prices soared 20.3 percent over 12 months since the Reserve Bank of Australia lowered the official interest rate to 0.1 percent in Nov. 2020, and the federal government provided a number of financial assistance schemes to buyers. “This puts housing values around 28.2 percent higher than the estimated value of superannuation, the ASX (Australian Security Exchange), and commercial real estate combined,” CoreLogic head of research Eliza Owen said. The average house price in Australia reached $719,209 (U.S.$525,000) in September, while the average unit sat at $586,993 (U.S.$429,000). March represented the peak month of growth, when houses increased 2.8 percent, and has since slowed as affordability issues emerged. The market has grown at a steady 1.5 percent for two months in a …