The numbers add up to more national property price pressure
Residential real estate underpins the nation’s wealth, valued at $9.7 trillion but is coming under immense pressure, with more spring listings set to apply even greater pressure on real estate prices.
Spring selling season threatens to put even more pressure on property prices as new stock hits the market. (Image source: Shutterstock.com)
If Australia was a homeowner, it would have paid off almost more than three quarters of its mortgage.
Residential real estate underpins the nation’s wealth, valued at $9.7 trillion and far outweighing the value of superannuation ($3.3 trillion) and listed stocks ($2.7 trillion). Commercial property is worth an additional $1.3 trillion.
The collective outstanding mortgage debt on the country’s 10.8 million dwellings is $2.1 trillion, translating…
