The growing momentum slightly accelerated in August as compared with the 0.7 percent increase in July, but still lower than the 1.2 percent increase seen in May and 1.1 percent rise in June.
CoreLogic figures also show that the national HVI picked up 4.9 percent since bottoming out in February this year, adding approximately 34,301 Australian dollars (around 22,203 U.S. dollars) to the median housing prices.
Among the capital cities, Brisbane posted the highest increase of 1.5 percent in house value in August as compared with the previous month, followed by Sydney and Adelaide, each rising by 1.1 percent. Hobart, the capital of Australia's island state of Tasmania, was the only capital city recorded a slide of 0.1 percent in in house value in August.
At the combined capital cities level, house values has risen by 6.3 percent since bottoming out in February.
Sydney has led the recovery trend to-date with a gain of 8.8 percent since house values found a floor in January this year, said Tim Lawless, research director of CoreLogic. Brisbane has also posted a strong recovery with values up 6.2 percent since bottoming out in February.
Despite the positive trend, the housing values are diverse across the capital cities, with those on the other end of the scale are better described as flat, Lawless noted.
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