Australia’s housing stock could reach $10 trillion in December

The total value of Australia’s housing stock could break through the $10 trillion barrier in December as prices increase at the fastest pace in more than three decades.

CoreLogic data shows housing values increased by 1.5 per cent in September, taking this year’s total gain to 17.6 per cent.

Average prices in the most expensive state, New South Wales, have lifted by more than $193,000, to above $1 million.

Real estate chiefs are confident there will be continued growth next year but at a lower rate.