The Australian housing market is now worth a record-high $6.87 trillion

The Australian housing market is now worth a record-high $6.87 trillion after gaining almost $93 billion between September and December last year, according to new ABS data.

Average Australian residential property prices ticked 1 per cent higher over the three months to December, the latest Bureau of Statistics house price index showed, with Sydney price growth turning negative alongside Darwin.

The national annual average gain now stands at 5 per cent.