<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australian </span><a href="https://www.9news.com.au/property" rel="" target="" title="property prices"><span>property prices</span></a><span> have climbed for a fifth consecutive month, edging up by 0.6 per cent in June.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The data from CoreLogic shows monthly gains were recorded across almost every broad region of Australia, with Hobart the only capital city or rest-of-state region to see a month-on-month fall, dipping by 0.2 per cent in values.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The last fall in national property prices was seen between November and January, when values dropped by 0.3 per cent.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/east-coast-low-fears-of-bomb-cyclone-sydney-nsw-coast/058a06e0-ee22-472d-acd8-79afe1046280" rel="" target="" title="Major airlines cancel flights as weather 'bomb' hits"><strong><span>Major airlines cancel flights as weather 'bomb' hits</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, falling interest rates had proved to be a clear catalyst behind the renewed momentum since then, Cotality's research director, Tim Lawless, said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The first rate cut in February was a clear turning point for housing value trends," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"An additional cut in May, and growing certainty of more cuts later in the year have further fuelled positive housing sentiment, pushing values higher.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/australian-house-prices-rise-for-fifth-month-in-a-row/7e9837e6-6fac-4a08-8d34-2efb76953765" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Although value rises have been broad-based, the pace of growth remains mild compared to mid-2023 when the quarterly rate of growth in national home values peaked at 3.3 per cent, and for that matter, positively tepid relative to the extreme 8.1 per cent quarterly peak growth recorded through the height of the pandemic."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Darwin has led the charge among Australia's capital cities over the last quarter, with dwelling values jumping 4.9 per cent. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In June alone, Darwin's property prices rose by 1.5 per cent, taking dwelling values to a new record high, finally surpassing the mining boom peak recorded just over eleven years ago in May 2014.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Outside of Darwin, the quarterly trend across the capitals was led by Perth, up by 2.1. per cent, and Brisbane, rising 2 per cent. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Prices in Sydney and Melbourne have both increased by 1.1 per cent over the last quarter.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Lawless said the current housing rebound was occurring against a backdrop of relatively low home sales. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Although demonstrated demand is tracking slightly below average, advertised supply is scarce, creating a more balanced market for buyers and sellers," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Improved selling conditions can be seen in auction clearance rates, which have risen to slightly above the decade average in the last two weeks of June, holding around the mid-60 per cent range."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Quarterly data suggested house prices across the country would rise by 5.8 per cent over the year, which is slightly above the decade average annual rate of 5.2 per cent, Lawless said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Given the upside risk that housing values will accelerate further from here as interest rates reduce, the reality is we will likely see home values rise by more than this over the coming 12 months," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"However, despite the prospect for lower interest rates, affordability constraints will likely temper the extent of a housing market upswing."</span></div></div>