Australian home prices increased by 0.7% in August to a median value of A$848,858, the highest monthly gain since May 2024. Prices rose across major cities, with Brisbane up 1.2%, Sydney up 0.8%, and Melbourne up 0.3%. Hobart was the only city to see a decline of 0.2%. Buyer demand was driven by increased borrowing capacity and low stock levels. Cotality attributes the rise to real wage growth and rising confidence. The trend follows interest rate cuts by the Reserve Bank of Australia, with further easing possible as inflation cools.

Read more at Yahoo Finance: Australia house prices climb in August as demand outstrips supply, Cotality says