THE value of residential real estate is almost $7 trillion, with the average Aussie home now worth $686,700, official data out today showed. The total value of Australia’s 10 million residential dwellings increased $92.9 billion during the December quarter to hit $6.9 trillion, according to the Australian Bureau of Statistics. Residential property prices rose 5 per cent compared to the same quarter last year, a marked slowdown given September’s result was 8.3 per cent and June 10.2 per cent. ABS chief economist Bruce Hockman attributed the change to tighter regulatory conditions and a slowdown in investor credit growth. “The results are in line with market indicators like falling auction clearance rates, and point to a continued moderation in annual property price growth across a number of Australia’s capital cities” Read More Here. By, Sophie Foster.