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Sydney and Melbourne house prices rising

Housing markets in Sydney and Melbourne could be looking up as prices around the rest of the country continue to fall.

Sydney experienced its first monthly increase in house prices since mid-2017.

Both Sydney and Melbourne recorded a slight rise in June, up 0.1% and 0.2% respectively.

CoreLogic Senior Research Analyst Cameron Kusher tells Ross Greenwood the results are a positive reflection of the housing market.

“Since the election clearance rates have jumped to the 60 per cent range, most weeks, in both of those cities.

“Generally, the economies of Sydney and Melbourne are significantly stronger than they are in other capital cities.”

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