The Australian housing market has registered another rise in home values, with the total value of Australia’s residential real estate now worth $10.1trn, according to CoreLogic’s October Monthly Housing Chart Pack.

This latest rise is up from the $10trn recorded by CoreLogic last month, and a continuation of the housing recovery. Back to 2015, the residential real estate market in Australia was widely reported as being worth $6trn. In early 2021, values had climbed above $7trn and by the end of the summer in 2021 it had passed $8trn.

By October 2021, Australian house prices lifted again, with the market then worth $9trn and halfway through 2022, residential real estate broke the $10trn mark for the first time. Values began to decline throughout the remainder of 2022, but they have recovered already this year, passing $10trn again in September.

Compared to other asset classes in Australia, residential property reigns supreme as the commercial sector is only worth $1.3trn and the stock market $2.8trn.