Australian house prices have slowly risen for the last consecutive four months, adding further evidence to the argument that the Australian real estate sector is improving.
The September RP Data - Rismark Home Value Index results have shown a 1.4 per cent jump in house prices across all capital cities over the month of September.
That 1.4 per cent jump is the largest single monthly rise since March 2010, with Adelaide performing the best of all capital cities, rising 2.4 per cent.
Research director of RP Data Tim Lawless said that this performance was promising, especially in Melbourne which performed better than expected.
"Since the May trough, Melbourne values have recorded a 4.0 per cent surge, which is the largest recovery so far across all the capital cities," he said.
The Real Estate Institute of the Northern Territory (REINT) said that these statistics are good news for the territory as it's a sign Darwin's market is beginning to stabilise.
The REINT told the ABC that this shows the market has found a comfortable medium between steadily rising prices and a greater number of properties on the market, a lack of which was causing the harsh rise in prices last year.
