Aussie residential values reach $8.1t
Core Logic has announced the value of residential real estate in Australia has reached $8.1 trillion.
This followed broad-based capital gains across the country as many markets were trading at their peak and was the first time this size had been reached.
In the three months to April, national home values rose 6.8% which was the highest quarterly dwelling growth since December 1988.
CoreLogic head of research, Eliza Owen, said: “This puts Australian residential property at around four times the size of Australian gross domestic product, and around $1 trillion more than the combined value of the Australian Securities Exchange, superannuation and commercial real estate stock combined”.
“The increase in the value of residential real estate has put Australian home owners in a strong equity position, with the RBA estimating just 1.3% of housing loans to be in a negative equity position at the start of 2021.”
AUTHOR
Laura Dew
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
