House prices in Australia are showing signs of a rebound.
The Reserve Bank of Australia again kept the official cash rate on hold last week, after cutting them six times in just over a year.
But Radio New Zealand's Sydney correspondent reports official data show house prices in the capital cities rose by 1.6% in the December quarter and were up 2% over the full year.
Perth was the top performing city again for housing, but Sydney also looks to be reviving. Once again, Tasmania is the laggard - house prices there slumped 6% last year.
In absolute terms, Sydney remains the most expensive city for residential real estate - the median price here is now over $A600,000.
