The total value of Australia’s housing stock climbed to a record A$6.05 trillion ($4.6 trillion) in the second quarter, as the number of dwellings across the country rose, the statistics bureau said. The overall value of the nation’s residences has risen from about A$4.4 trillion back in late 2011, when the Reserve Bank of Australia embarked on monetary easing that’s since taken the cash rate to a record low. Still, the pace of price gains has moderated as affordability concerns have mounted and the scope for additional central bank stimulus lessens.
Australia’s Total Housing Market Value Tops A$6 Trillion: Chart
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