The total value of 10.8 million Australian residential homes has broken the $10 trillion (US$6.95 trillion) mark for the first time in the March quarter.
New data from the Australian Bureau of Statistics (ABS) indicated that the national dwelling value increased by $221.2 billion to $10.2 trillion during the period.
In addition, ABS head of prices statistics Michelle Marquardt confirmed that Australian home values surged by $1.8 trillion in the 12 months to March.
New South Wales (NSW) ranked first among the jurisdictions as the state accounted for 40.1 percent of the collective dwelling value, followed by Victoria at 26.9 percent and Queensland at 16.7 percent.
Separately, the Australian median residential house price rose to $941,900 from $925,300 in the December quarter of 2021….