Capital city home prices increased by 0.35 per cent in August according to PropTrack, to be 3.4 per cent higher than a year earlier.
Despite many doom and gloom forecasts, the market has been surprisingly resilient in the face of a large and rapid increase in interest rates.
Prices are slightly lower than a year earlier in Hobart (-4 per cent), Darwin (-1 per cent), and some parts of regional Australia.
Overall, thought, it's been a case of onwards and upwards for the capital city markets, with the next move in interest rates likely to be down, in the face of a massive dwelling shortage.
