Buoyant market conditions have produced a sterling result for Australia's property market with $2 trillion added to the market since 2009; this now brings the total value of the market to $6.0 trillion.
The Australian housing market reached a new milestone in July with the overall value of housing (excluding vacant land) breaking through the $6 trillion mark.
Prior to lunging into the detail about where most of this value is concentrated and how it has shifted, it is worthwhile refreshing ourselves on exactly what one trillion is. One trillion is a thousand billions or a million millions - we are talking big numbers here.Â
The debt held against that $6 trillion is only (approximately) $1.49 trillion (as at June 2015), so the value of the asset class is worth more than four times the debt held against it.