Housing remains the nation’s largest asset class, well ahead of shares, superannuation and commercial developments, as residential property prices continue to rise.

The total value of residential real estate in Australia has reached $8.1 trillion, according to CoreLogic, followed by $3 trillion of superannuation, $2.7 trillion of Australian listed stocks and $964 billion of commercial real estate.

“The Australian dwelling market has reached fresh record highs for the past four months and the end of April marked the first time the total value of Australian housing broke the $8 trillion mark,” says CoreLogic head of research Eliza Owen.

“This puts residential property at around four times the size of Australian GDP and $1 trillion more than the combined value of the ASX, superannuation and commercial real estate stock.”

CoreLogic data suggests that in the three months to April, national home values rose 6.8%, the highest quarterly growth since 1988.