๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฆ๐ฐ๐ฎ๐น๐ฒ๐ ๐ฅ๐ฎ๐ฟ๐ฒ ๐๐ฒ๐ถ๐ด๐ต๐๐
In another sign of the rebound in the national property market, the combined value of Australian housing hit $10 trillion at the end of August, according to CoreLogic.
This is the first time market value has exceeded $10 trillion since June 2022. It comes after property prices increased for the six consecutive months between February and August.
CoreLogic said one reason property prices have been rising is due to stronger demand. This has been caused by a rise in net overseas migration and because buyers have used savings, equity and profits from previous home ownership to fund property purchases.
At the same time, supply has remained constrained, because a relatively small number of vendors have been listing their home for sale.
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